The GBP chart reflects declining value, measured in US Dollars over time. In fact, all are measured against other assets. Whether gold or Yen, Euro or Sterling. Nothing has absolute value. And so we measure the ability of an asset to store value in another asset, always some currency. A homeowner in Britain likely saw the value of her home rise over the last decade that is in the number of GBP the home was worth rose. That however is only half the story. If the GBP lost value against other currencies, in other words had its value eroded because of inflation, then the home, as a store of value, did not deliver. This is in point of fact exactly what occurred in the case of the GBP or assets denominated in GPB, like our homeowner’s house.