Forget the many historical instances of the sovereign debasing the coinage and unleashing hyperinflation - from Nero in ancient Rome to Mugabe in modern Zimbabwe. Look instead only at the relatively stable U.S. dollar. During the 34 years of the classic-gold-standard era in the U.S. (1880-1914), the dollar lost only 3 percent of its value. In contrast, during the past 34 years (since 1980) the dollar has lost 65 percent of its value. Even more revealingly, since the 1913 creation of the Federal Reserve - an institution designed and operated by Uncle Sam allegedly to maintain the purchasing power of the dollar - the dollar has lost 96 percent of its value.
via cafehayek.com