Quite why gold bugs think that the Gold Standard prevents asset bubbles and excess debt is beyond me. The 1920s saw US debt levels surge to around 300pc to 350pc of GDP. It is very similar to what occurred in our own Noughties up to 2008
A gold standard cannot succeed if the politicians subvert it. That is what happened after 1913. The gold standard is not magic -- it's just better than the paper money trap we've fallen into.