the U.S. dollar was also gaining value against commodities whenever it was tied to gold, but lost value significantly when its connection to gold was severed, as was the case during the U.S. Civil War and the printing of greenbacks, and in the period after the 1934 devaluation of the dollar and confiscation of citizen gold. Figure 9 Price of commodities in gold and in U.S. dollars, in log scale, 1792–2016.
