[Dondilion]

Nixon in 1971 employed controls. He was a very pragmatic leader when dealing with economic issues. He also took the US off the gold standard which combined with the agreements with the major Arab oil producers resulted in the US dollar becoming the world reserve currency.

The present Democratic leadership is in a bad spot. To even raise the control kite would imply that the dreaded inflation is not transitory...a propaganda gift to the Republicans in an election year.

There are elements inside the Democratic leadership advising Biden that sanctioning heavily Russian gas (which is cheap) will have serious economic issues for the west. He seemed to realize this by not implementing the proposed sanctions against Nordstream 2 but then got hammered by the crafty Ted Cruze and associates who want to sell in a big way American gas abroad even if doing so hurts domestic users.