The Power of Gold (ePub)

"The 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 the gold standard and its aftermath,
gold has led many of its most eager and proud possessors to a bad
end. And while the same cycle of obsession and desperation may
reverberate in today's fast-moving, electronically-driven markets,
the role of gold in shaping human history is the striking feature
of this tumultuous tale. Such is the power of gold.

Whether it is Egyptian pharaohs with depraved tastes, the
luxury-mad survivors of the Black Death, the Chinese inventor of
paper money, the pirates on the Spanish Main, or the hardnosed
believers in the international gold standard, gold has been the
supreme possession. It has been an icon for greed and an emblem of
rectitude, as well as a vehicle for vanity and a badge of power
that has shaped the destiny of humanity through the ages.

* Discusses the beginnings of gold as something with magical,
religious, and artistic qualities and follows its trail as we
progress to the invention of coinage, the transformation of gold
into money, and the gold standard

* Other bestselling books by the late Peter Bernstein: Against
the Gods, Capital Ideas, and Capital Ideas
Evolving

* Contemplates gold from the diverse perspectives of monarchs and
moneyers, potentates and politicians, men of legendary wealth and
others of more plebeian beginnings

Far more than a tale of romantic myths, daring explorations, and
the history of money and power struggles, The Power of Gold
suggests that the true significance of this infamous element may
lie in the timeless passions it continues to evoke, and what this
reveals about ourselves.