Throughout the past hundred and fifty years or so, especially in U.S. politics, a manipulated currency (“soft money”) was favored by left-leaning interests, in practice the Democratic Party. A gold-standard system (“sound money” or “stable money” or “hard money”) was favored by right-leaning interests and the Republican Party.
Along those lines, “soft” money was presented as the friend of the working man, while “stable” money was presented as the favorite of the bankers and capitalist class – a mechanism by which the Scrooge-like lenders stuck it to the hapless masses.
Read Full Article »