However, a gold standard system can make available any amount of currency, as is appropriate given economic needs and the fixed parity value.

FORBES: The Gold Standard, and the Myth About Money Growth

Argentina, Latin America's fastest-growing economy last year, has the most rigid exchange-rate system of all, with a currency board that fixes by law the value of the peso at parity with the dollar, and thus limits the money supply to the level of foreign currency reserves.

ECONOMIST: Latin America seeks shelter

Here you can see how the gold standard system can expand and shrink the money supply as appropriate, as part of the mechanism that maintains the value of the currency at its parity rate.

FORBES: The Gold Standard, and the Myth About Money Growth