Corona virus, China major city lockdowns, etc.

[digitalShaman]

The US effectively got off the gold standard in 1933. Nixon changed the rules for foreign countries.

https://www.mentalfloss.com/article/...-gold-standard

Well thats quibbling. The dollar was still bound to gold at a fixed rate. Even though that rate was later increased, it enforced appropriate frugal policy. however, the fact that this rate later had to be increased and Nixon finally dropping it completely were already symptoms of living beyond means.