> The US thanks to the Federal Reserve, they were pretty disciplined about it up until 1971. They were quite disciplined in the early 1930s as well, which grea

> The US thanks to the Federal Reserve, they were pretty disciplined about it up until 1971. They were quite disciplined in the early 1930s as well, which greatly helped the Great Depression to arrive: * http://www.nber.org/chapters/c11482 http://www.nber.org/chapters/c11482 And it's not like the gold standard helps with financial/currency stability either: * https://archive.today/FWKcL https://archive.today/FWKcL / https://www.theatlantic.com/business/archive/2012/08/why-the-gold-standard-is-the-worlds-worst-economic-idea-in-2-charts/261552/ https://www.theatlantic.com/business/archive/2012/08/why-the... Further, 1971 isn't some magic year, as inflation was already rising in the mid-1960s: * https://www.federalreservehistory.org/essays/great-inflation https://www.federalreservehistory.org/essays/great-inflation And if you're trying to make a link to inflation, the spikes that the US (and others) saw in the 1970s had little to do with monetary/fiscal discipline, but with commodity prices: * https://en.wikipedia.org/wiki/1970s_energy_crisis https://en.wikipedia.org/wiki/1970s_energy_crisis * https://en.wikipedia.org/wiki/Cost-push_inflation https://en.wikipedia.org/wiki/Cost-push_inflation