I'm not half as concerned with the total amount of dollars my 401k is worth as I am the buying power of those dollars. It does no good for a portfolio to increase 10% if the currency is effectively devalued by 20%.

That's the problem with the printing of $1Trillion or more dollars against the "collateral" of the nation. All that happens is while the collateral remains fixed, the actual value (versus the face value) of the paper dips. This has been happening for decades, but this latest printing-panic is equal to dozens of years of inflation/devaluation in one short year.