hi doma,
the us has had a fiat currency only since 1971, hasn't it? at least, that's your normal argument: no fiat currency lasts more than 40 years, or words to that effect.
in the 1970s, oil prices drove inflation northwards. since then, nothing more than the odd blip.
the us central bank drove the expectation of ever higher labour costs out of the market.
basically the last 30 years have seen the least volatile rate of inflation in the last century. prior to that, when gold was used as a standard, prices were more volatile, not less. here's the chart.
http://www.usinflationcalculator.com/inflation/historical-inflation-rates/
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