How can the average investor hedge against the declining dollar?

Here are some funds which invest in foreign bonds, and which should do well if the dollar crashes:

BEGBX (Euro bonds, currency risk mostly unhedged)
PFUCX (PIMCO fund, completely unhedged)
IHHX (Templeton fund, foreign money funds, unhedged)

There is also Everbank.com, which sells foreign-currency denominated CDs.

I think these are better than international equity funds, since many foreign company shares will fall if their currency appreciates too much against the dollar.

Note that if the Bretton Woods II hypothesis is correct (see previous post), we may soon see the European Central Bank intervene to support the dollar. So, although macro trends point toward a dollar correction, it may not happen for years.