Yes. Exactly.

And would you look at that, the US's growing debt due to yet another war precipitated abandoning the gold standard (from this link - https://owninggold.com/gold-standard/):

The gold standard remained in place until 1971. In 1970, the growing cost of the Vietnam war and a trade deficit caused the United States to make the decision to print more money. Other countries began to question America’s ability to actually cover all the American currency in circulation with gold.

The first county to actually leave the Bretton Woold system was West Germany. Seeing this move, and fearing that American currency they had invested in would lose value, other countries began demanding that the Unites States turn over gold in exchange for our currency.

President Nixon made the decision to take the country off the gold standard to prevent an economic meltdown.

It's the same playbook over and over again.