The high stock market is due to the dollar's devaluation

[Chimichurri]

I heard Thom Hartmann on The Majority Report talking about how the global markets are reporting the U.S. economy has been flooded with as much as 2 trillion newly printed dollars which has devalued the dollar up to around 50% causing the markets to post false gains. The market reaching 11,000+ should be assessed at the dollars accurate value making the stock market's true value at round half that (6,000 pts or so)

This is also why all other currency has gained value against the dollar. The dollar is the standard by which all other currency is valued.

Any economic wonks out there that can validate this in laymen's terms? If I understood him correctly, this explains why so many people are having a tough time making ends meet while the think tanks tought a vibrant economy.