This is a completely reasonable take. You don't have a right to live in a city that requires $50/hr to live comfortably. $21/hr is an amazing pay rate for what is essentially unskilled labor
A version of the gold standard with the dollar pegged to gold for international trade partners was reintroduced in 1945 post WWII and that's what's Nixon suspended. Just like a true gold standard, it put a check on how much dollars the government could print