With the government running a huge deficit, what investments will have good returns over the next four years?

Currently we are increasing the US deficit by $3.82 billion per day since September 28, 2007 (this does not include the state and local deficits or the federal government unfunded future liabilities of $47 trillion). This will lead to declining value of the $, inflation, and possibly the $ losing its place in the forefront of world currencies.

I would like to find a hedge against inflation and the declining value of the $ like I had with oil when oil prices went from $30 to $140 by using Canadian gas and oil trust companies (ie AAV, PWE, PWI). You got a greater than a 10% dividend along with share price growth (thanks FullStacks and Mr. C for telling me about the Canada Trust). These have become very good trading stocks over the last couple of years provided you know how to use the stop loss order. FullStacks made a lot of money selling AAV when oil hit $80 and buying when it got near $70.

I have started to look at commodity ETF index stocks as an inflation hedge, for example PowerShares DB Base Metals (DBB), DB Agriculture Fund (DBA) and other commodity funds. Is the better investment non US currencies like the BRIC countries? Please comment on what you think is the best approach.