NEW YORK ( ETF Expert) -- The Federal Reserve, as expected, announced its decision to stay on its ultra-accommodative course; that is, it will continue to print $85 billion each month to buy U.S. debt and to suppress intermediate-term interest rates.However, the central bank's rationale for avoiding the choice to taper its bond buying may not sit well with critics of quantitative easing (QE). Many maintain that the electronic creation of U.S. dollars is leading to a probable collapse in the currency. In truth, the Dollar Index is roughly in the same spot as it enjoyed back in January 2005. Long before zero-percent-interest rate policy, way before Bernanke's Fed began printing dollars to purchase U.S. Treasuries in December 2008, the Dollar Index registered a price of $80. That's nearly nine years of trading against different currencies of the world without a definitive longer-term trend of depreciation. Perhaps ironically, the real decline in the greenback occurred between the start of 2002 and the end of 2004. The USD Index fell 33% over those three years alone. Meanwhile, foreign stocks making up the iShares MSCI EAFE Index ( EFA) gained 40% while the S&P 500 picked up only 10%; most of the gain differential is attributable to the currency effect. And gold? The yellow metal via iShares Gold Trust ( IAU) gained 57%, in the three-year period (2002-2004).