The Power of Gold - The History of an Obsession

The Power of Gold - The History of an Obsession

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A historical perspective of how Gold has gained in value over the years.

Useless as a metal for most practical purposes, Gold originally held value as decoration and adornment for the wealthy ancients. Later, it was minted and used as coins by the Lydians in 635 B.C. That, Bernstein goes on to reveal, put Gold on a path from the concrete to the abstract, from evidence of wealth to the standard behind wealth in other forms, and finally to the tenuous place it holds in today's virtual world of credit cards and computer chips. Along the way lie wild stories of lives destroyed, fortunes won and quickly lost, and values transformed: the massacre by the Spanish invader Pizarro, whose small band of men decimated the formidable army of Emperor Atahualpa, "the Inca," through more duplicity than military skill; the roller-coaster ride of the 1890s, when the rippling impact of the Baring Brothers bank crisis in Britain sent the isolated United States into an economic meltdown; and the surplus of the Gold Coast natives of Timbuktu, who willingly traded their Gold for much-needed salt, ounce for ounce.

Hardcover: 304 pages
Publisher: Wiley; First edition. edition (November 5, 2004)
Language: English
ISBN-10: 0470091002
ISBN-13: 978-0470091005
Product Dimensions: 11.6 x 8.6 x 1 inches

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