Yes, gold does put a limit to the debt growth but, we had deficit spending during the time we had the gold standard because the fed is still charging interest on the money, regardless of when it was gold backed or fiat. The fiat currencies that got hyperinflated many times can be traced to the currencies being "floating" and determined via the "market" but then are essentially short saled by hedge funds...Soros is famous for doing this. But with regards to Hitler, the WAS technically fiat currency, because it was backed by the intangible production of the German people and thus was credits for work done. This is what I am saying actually controls inflation, money that responds accurately to the production needs...and also it was issued not as debt, unlike anything we've had in this country besides when Lincoln inserted greenbacks and Kennedy briefly attempted silver-backed US notes...So anyways I do agree that what money should be backed by is the peoples productivity but also a very important part, is the money should not be lent from private sources