[Verse 1] Nineteen seventy-three, the walls came tumbling down Bretton Woods was history, gold standard hit the ground Nixon closed the window, currencies set free Dollar's anchor severed, floating on the sea [Chorus] When the golden rules cracked open wide Re-anchor expectations, nowhere left to hide Credible policy, painful medicine Trust the central bankers, let adjustment begin Golden rules cracked, golden rules cracked No more fixed exchange, there's no going back [Verse 2] Oil embargo striking, prices through the roof Stagflation's double punch, economic proof Old Keynesian wisdom couldn't solve this maze Inflation plus recession marked these troubled days [Chorus] When the golden rules cracked open wide Re-anchor expectations, nowhere left to hide Credible policy, painful medicine Trust the central bankers, let adjustment begin Golden rules cracked, golden rules cracked No more fixed exchange, there's no going back [Bridge] Canada watched closely as the system bent Fed and Bank of Canada, their credibility spent Volcker's shock treatment, interest rates sky-high Squeeze inflation's fever, make the unemployment fly [Verse 3] Regime change demands courage, sacrifice and pain Central banks must signal they won't print again Expectations matter more than money supply Convince the markets truly, or watch currencies die [Final Chorus] When the golden rules cracked open wide Re-anchor expectations, nowhere left to hide Credible policy, painful medicine Trust the central bankers, let adjustment begin Golden rules cracked, golden rules cracked Monetary regime change, there's no going back [Outro] Seventy-three's the break point When the old world slipped away New era of inflation Changed the economic game
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