Prices Provide a Misleading Measure of Dollar Devaluation

``We use the dollar to measure prices. Then we turn around, and attempt to use prices to measure the dollar. It's circular... There is a better way to measure the dollar: gold... If you're curious, J.P. Morgan was worth 3.4M ounces of gold [at his death in 1913]. Steve Jobs was worth 4.3M. Jobs was in fact richer, but only by 26 percent. Using consumer prices overestimated the gap.''