Except there wasn't. Governments had no problem driving nations into ruinous debt when the currency was actualy made of gold, let alone just being tied to some paper and then fractionally reserved.
Only that gold is a faith based commodity the same as paper. Lashing one to the back of the other does nothing.value has gone up from $250 to $1330. Or if you want to go back further, it was originally at $20 and $35. What does that prove?