An interesting comparison is the price of gold since `71 to the DXY and it tells the full story. I fully believe that Nixon thought that going off the gold standard was temporary because the government tried dumping gold on the market to suppress the price, but it never worked and we haven't seen $35 gold since. Even Paul Volcker has implied in conversations that many of the leaders at the time thought we'd eventually go back to a gold standard, but as we got further away from it and became reckless in spending, we couldn't return.
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