Tied into the gold window being closed is U.S. oil production peaking in 1971 in terms of ROI. Today's production is much more expensive to produce a similar level of oil. U.S. industry has never recovered, not even during the Alaskan oil boom.
Nixon closed the gold window but the devaluation of the dollar against gold had been going on for years. That's just when France called the US's bluff.
Tied into the gold window being closed is U.S. oil production peaking in 1971 in terms of ROI. Today's production is much more expensive to produce a similar level of oil. U.S. industry has never recovered, not even during the Alaskan oil boom.