Astonishing long-term inflation trend

I just saw the chart below and was shocked. So thought to share with you. I guess you don't need me to say too much about what it means. Yes, your and my money has been devalued continuously in a big way. You may notice that before 1970, the inflation was kept relatively mild. Starting from 1971, the inflation has jumped up steeply. Why? Because in 1971 the late President Nixon destroyed the gold standard for the US$ by decoupling the two with a fixed ratio. Before that, one oz gold equaled to $35 and everyone could legally go to the bank to exchange the US$ for gold. In other words, the US government could not freely print the paper money as much as they wish, because each dollar was backed up by gold. This is the only way to effectively control the inflation. As soon as this connection was cut, the paper US$ could be created from the thin air, which is more so nowadays. That's why our money has been devalued so much and our purchasing power has declined by 20 times in a short 40 years time. Friends, this trend is only deteriorating and worsening quickly every passing day. You may see another 20 times less purchasing power in no time. That's why I love gold and would like to buy more whenever there is a dip. I'm simply frightened and more so now!