The Power of Gold, Large edition (Gebundene Ausgabe)

The Power of Gold, Large edition (Gebundene Ausgabe)
von Peter L. Bernstein

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In the first chapter of his bookThe Power of Gold, Peter Bernstein quotes the immortal words of King Ferdinand of Spain, who once declared: "Get gold, humanely if possible, but at all hazards--get gold." As ensuing chapters reveal, man's obsession with finding, keeping, selling, and evaluating gold has rarely been a humane adventure and has always been a hazardous one. Digging deeply into history's treasury of torrid tales and complicated deals, Bernstein examines gold's lure with an economist's passion for quantification, a historian's eye for detail, and a sociologist's feel for its consequence.

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.

Bernstein is a great storyteller. His accounts of mythological, ancient, and recent history ooze with odd and entertaining details that bring each successive tale of obsession to life. If not for his skill, the sheer volume of events collected here--presented more anecdotally than systematically--would be overwhelming. In the end, though, it is Bernstein's fascination with the power of gold to entangle and entrap its possessors, and its ultimate ability to change the course of entire eras and civilizations, that makes his book as fascinating as it is informative. A dense but entertaining read. --S. Ketchum-- Dieser Text bezieht sich auf eine andere Ausgabe:Gebundene Ausgabe

Any business book with a testimonial on its cover from one Paul Volcker deserves at least a second glance. Not that the former chairman of the US Federal Reserve says much ("The story of gold--in all its splendour and mythology") but it's better than a poke in the eye with a sharp stick. Still, gold is a fascinating subject and one that most of us would probably agree we'd like to see a bit more of. They did in ancient times, according to Peter Bernstein. It was more plentiful then, and its use was "for adornment and decoration and not for coinage or hoarding". This is underlined by a swift retelling of Moses' descent from Mount Sinai with the newly minted Ten Commandments to find a golden calf being worshipped. Even as slaves, the chosen people had ample amounts of gold on their person. "It never occurred to them to use their gold to bribe their way out of captivity in Egypt, they would have found few takers."O tempora, o mores, one might think. From Moses in the desert to Montagu Norman at the Bank of England. From Kubla Khan to Maynard Keynes,The Power of Golddescribes itself as the history of an obsession. There's more to it than that. Peter Bernstein's sequel toAgainst the Gods, The Remarkable Story of Riskis a highly readable potted history of modern mankind, told through the development of money and modern economics. --Brian Bollen-- Dieser Text bezieht sich auf eine andere Ausgabe:Gebundene Ausgabe

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