A clever rhyme!
The pattern of the rhyme appears to be a cycle that describes how a society's economic and social dynamics can influence each other. Here's a breakdown:
1. **Weak men** create fiat money: A government or authority may create paper money (fiat currency) when it lacks economic strength.
2. **Fiat money creates bad times**: Unbacked currencies can lead to inflation, erode trust in the economy, and cause economic hardship.
3. **Bad times create strong men**: Economic difficulties can give rise to leaders who are more authoritarian or conservative, seeking to restore stability through strict control.
4. **Strong men create hard money**: These powerful leaders may introduce a new currency backed by gold or other valuable commodities (hard money) to provide stability and confidence in the economy.
5. **Hard money creates good times**: A stable currency can lead to economic growth, prosperity, and a sense of security among citizens.
6. **Hard money lasts forever**: The rhyme implies that a well-established hard money system can endure for generations.
This poem is often attributed to Sir William Jackson's 1713 work "The Currency Debate," but its exact origin remains unclear. Nonetheless, it effectively illustrates the cyclical nature of economic and social dynamics!