Before Nixon ended the Gold Standard, the direct convertibility of the US dollar to gold on 15th August 1971, many countries fixed their exchange rates relative to the US dollar, giving their currency a fixed value in terms of gold.
However since the end of the Gold Standard countries have been free to print as much money as they wanted with the resultant real value of most world currencies falling at an alarming rate.
The paper money itself having no intrinsic value only the future claim against real goods and services.
How does this swindle work?
Since 1971 countries have been free to increase amount of money in circulation, be it the number of US dollars or pounds Stirling. This then devalues the currency in terms of goods and services it can buy, meaning it takes more pounds or dollars to buy those same goods or services.
For example in 1971, six eggs cost 11p, today they cost 150p - 13 times more. A loaf of bread cost 10p in 1971, today it is 115p - 11 times more.
However a 10oz bar of Gold that would have cost $400.62 in 1971, was worth $18,800.00 last week a rise of 46 times.
Gold has risen in terms of currency by 46 times. The value and purchasing power of gold is exactly the same today as it was 40 years ago.
In contrast inflation and the devaluation of many world wide currencies is swindling their citizens out of the real value of the savings they hold in cash.
