Somewhat unfairly, the chart attributes the dollar's decline to the day forty years ago when President Nixon "closed the gold window" and made the dollar what economists call a fiat currency. Lewis Lehrman has a good op-ed on the subject in today's WSJ. Personally, I date the decline a bit earlier, as starting in the 1950s, and the result even shabbier: those 1950 dollars were each worth ten of ours. Blue skies! -- Dan Ford
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