[Verse 1] In nineteen seventy-three, August came Nixon closed the golden window pane No more dollars backed by shining gold A promise that was centuries old The Bretton Woods system fell apart Changed the economic beating heart [Chorus] When the golden standard fell away Fiat money came to stay Floating rates and endless print Everything changed in that moment's hint No snap back, no return New rules we had to learn [Verse 2] Before that day, each dollar bill Was tied to gold upon the hill Fixed exchange rates, stable ground Now they float up and down Central banks got printing power Changed the game from that very hour [Chorus] When the golden standard fell away Fiat money came to stay Floating rates and endless print Everything changed in that moment's hint No snap back, no return New rules we had to learn [Bridge] Inflation became the hidden tax Oil crisis, economic cracks Canada followed the US lead Global markets felt the need To adapt to this new world Where paper money was unfurled [Verse 3] Structural shifts that still remain Deficit spending without pain Asset bubbles, boom and bust In central bankers now we trust The old constraints were swept away We're living with that choice today [Chorus] When the golden standard fell away Fiat money came to stay Floating rates and endless print Everything changed in that moment's hint No snap back, no return New rules we had to learn [Outro] Seventy-three was the break From which we never could retake The golden anchor's stable shore Those days exist no more
← When the Golden Rules Cracked | Nixon's Dollar Falls Apart →