The chart included a link. The gold standard was in place as a deterrence to over spending. There was a limit in place. Eliminating that should have absolutely no effect to spending....that is if those in power had temperance. They of course don't.
You do not need a gold standard. You just need educated and knowledgeable adults with morals to keep the limitation in place.
Given from what has transpired ... a posteriori evidence of idiocy and ineptness is what is.