Description
Book SynopsisThe need for realism in reform of its monetary system is what makes Bernstein's story of the Power of Gold so timely. It is a compelling reminder that maintaining a fixed price for gold and fixed exchange rates were difficult even in a simpler financial environment.Peter Bernstein was reluctant to project the story of gold into the future. But to me his message was clear. Yes, gold will be with us, valued not only for its intrinsic qualities but as a last refuge and store of value in turbulent times. But its days as money, as a means of payment and a fixed unit of account are gone.
From the New Foreword by Paul Volcker This bestselling book reveals a record of human nature in the ubiquity of gold with a new foreword by Paul Volcker
In this exciting book, the late Peter L. Bernstein tells the story of history''s most coveted, celebrated, and inglorious asset: gold. From the ancient fascinations of Moses and Midas through the modern convulsions caused by th
Trade Review
"Bernstein's book is a fascinating read, especially in light of the recent run-up in the price of gold. Should gold once again be viewed as a currency, as so many commentators have suggested? Were he still alive, Bernstein might laconically answer, 'Read my book.'" (Seeking Alpha, May 2012)
Table of Contents
Foreword ix
Acknowledgments xiii
Prologue: The Supreme Possession 1
A Metal for All Seasons
1. Get Gold at All Hazards 9
2. Midas’s Wish and the Creatures of Pure Chance 18
3. Darius’s Bathtub and the Cackling of the Geese 38
4. The Symbol and the Faith 52
5. Gold, Salt, and the Blessed Town 66
6. The Legacy of Eoba, Babba, and Udd 74
7. The Great Chain Reaction 85
8. The Disintegrating Age and the Kings’ Ransoms 96
9. The Sacred Thirst 114
The Path to Triumph
10. The Fatal Poison and Private Money 135
11. The Asian Necropolis and Hien Tsung’s Inadvertent Innovation 158
12. The Great Recoinage and the Last of the Magicians 175
13. The True Doctrine and the Great Evil 198
14. The New Mistress and the Cursed Discovery 219
15. The Badge of Honor 239
16. The Most Stupendous Conspiracy and the Endless Chain 260
The Descent From Glory
17. The Norman Conquest 283
18. The End of the Epoch 306
19. The Transcending Value 328
20. World War Eight and the Thirty Ounces of Gold 346
Epilogue: The Supreme Possession? 367
Notes 373
Bibliography 397
Index 409
