e-book The Power of Gold: The History of an Obsession

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The Power of Gold: The History of an Obsession Paperback – October 16, In this exciting new book, Peter L. Bernstein, who chronicled the evolution of risk in his recent bestseller, Against the Gods, tells the story of history's most coveted, celebrated, and inglorious asset.
Table of contents

Now more than thirty ounces of gold would be needed to buy one share of the average. Those who believe that gold was a hedge against the uncertainties of life failed to understand that the pursuit of eternity is not to be satisfied by gold, or by anything else we choose to replace gold- dollars euros, whatever.

Gold as an end in itself is meaningless. Hoarding does not create wealth.

The Power of Gold: The History of an Obsession

Gold and its surrogates make sense only as a means to an end: to beautify, to adorn, to exchange for what we need and really want. What I really learned from this book- more than just the monetary history of the world- is what an absolute treasure Peter Bernstein was. He was 81 years old when he published this book! When he was 87, because why not, he wrote a book about the Erie Canal. Peter Bernstein was truly a renaissance man, I urge you to read his work.

The Power of Gold.

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Email address:. Every month you'll receive book suggestions--chosen by hand from more than 1, books. You'll also receive an extensive curriculum books, articles, papers, videos in PDF form right away. For decades, no central bank or government had maintained convertibility of its currencies into gold. Yet it had been shorn of monetary significance. Why is gold so desirable, initially as adornment and then as a form of money and then back to a status symbol or a store of value? Some of the reasons are the qualities of gold: malleable, imperishable, chemically inert, extraordinarily dense, soft as putty--and relatively scarce.

Almost all the gold ever mined is still around, if you include shipwrecks at the bottom of the seas.


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Bernstein notes that, if you piled all this gold in one solid cube, you could fit it aboard any of today's great oil tankers; it would weigh about , tons, compared with the U. With that as background, Bernstein traces the uses of gold through history--and a broad sweep it is! He starts with the Bible, which includes the use of gold as adornment, the golden calf, and the detailed description of use of gold in sanctuary and tabernacle. He then shifts to the use of gold in Greece, Rome, and Byzantium, initially as adornment but later as a medium of exchange.

The Power of Gold: The History of an Obsession – WorkLizard

Gold coins and bars were developed as a standard with a known fineness and weight to facilitate trade and commerce, as described by the historian Herodotus. But a society that uses metal for money is constrained by the supply of that metal, which, Bernstein points out, can be resolved in one of three ways: suffer downward pressure on prices, import gold by plunder or trade, or debase the coin by using the same amount of metal to produce a greater supply.

The reason Why HUMANs obsess about GOLD? /mystery of sumerian mythology from zecharia sitchin

All three methods have been used, with greater or lesser degrees of sophistication, and these developments are described in broad strokes. Skip to content Free download. Book file PDF easily for everyone and every device.

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