After the dollar began to float in 1971, both oil and gold soared.

FORBES: Oil Spikes, Double Dips And Dilapidated Dollars

Among the proposals he wrote about most frequently were: severing the link to gold and letting the dollar float, fighting inflation by reducing the growth of the money supply, ending the draft, abolishing wage and price controls, and cutting taxes.

FORBES: We're In Milton Friedman's World

Therefore, I believe that gold offers protection from central bank currency debasement and that adding a float shrink strategy can help diversify your portfolio and give you exposure to the substantial corporate profit distributions through buybacks.

FORBES: Buy Gold And Float Shrink