Gold was ~$40/ounce in 1971 when Nixon closed the Gold window.
So the dollar has lost 98% of its value vs Gold over the ensuing 53 years.
Gold didn't change one bit. But the dollar sure did.
Imagine you were in a store in 1964 and bought $4 of stuff and paid with a $5 bill.
You had a choice to get a dollar bill in change, or 4 1964 quarters.
If you took the quarters, they are worth $19 today, because of their 90% Silver content.
The dollar bill would be worth....one dollar, not 19.
This, ladies and gentlemen, illustrates the difference between money and currency.
