The dollar has declined 87% since 1971 - are you good with that?

In 1971, President Nixon shocked the world by abandoning the gold standard. He said it was temporary. The move made international waves but has largely been forgotten. But is it true that those things that cost $1 today could be bought for $0.13 in 1971? That's based on official government inflation statistics. And those are probably understated. And the Federal Reserve notes that you have in your pocket, they certainly buy a lot less than they did 50 years ago.

@ EconomicWarRoom