[lowkey]

My understanding is that the only defect of a gold standard for countries was that they couldn't easily debase their currencies, which historically has been the easiest way to fund wars. Currency debasement hurts the citizens, particularly savers so the individuals never benefit from currency debasement.

For dishonest governments who wish to spend without limit but don't want to raise taxes, fiat currencies allow debasement which benefits dishonest politicians. It does not benefit the people - ever.