A not so idle thought that occurred to me today as oil prices sink below $30 a barrel.

It was oil price inflation that introduced inflation to the world in the late 1960's / early1970's after the recessionary post WWII global economy.

What are the chances that in the current environment of spectacular oil (and other commodity) price collapses (the exact opposite of those inflationary times) that we'll see a significant reversal of value in currency terms across the board too?