A new Cointelegraph video delves into the persistent decline in purchasing power due to inflation, a fundamental aspect of modern monetary systems. The video traces the history from the 1944 Bretton Woods agreement, which pegged the US dollar to gold, to the 1971 "Nixon Shock" that transitioned major currencies to fiat systems. Since then, the dollar's purchasing power has significantly decreased, with a 1971 dollar now equivalent to over seven dollars today. The video also examines factors like energy shocks and supply chain issues that contribute to inflation, and discusses alternatives like gold and Bitcoin as potential hedges against currency devaluation.