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"The need for realism in reform of it is monetary scheme is what makes Bernstein’s story of the Power of Gold so timely. It is a compelling reminder that sustaining a fixed price for gold and fixed interchange rates were difficult even in a less complicated 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 it is intrinsic calibers but as a last refuge and store of value in turbulent times. But it is 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 humane nature in the ubiquity of gold with a new foreword by Paul Volcker

In this stimulating 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 progressed convulsions caused by the gold standard and it is aftermath, gold has led a lot of of it is 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 humane 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 global 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 fate of humanity through the ages.

• Discusses the beginnings of gold as something with magical, religious, and artistic calibers and follows it is trail as we progression to the invention of coinage, the transformation of gold into money, and the gold popular
• 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 cash and power struggles, The Power of Gold proposes that the true significance of this notorious factor may lie in the timeless passions it proceeds to evoke, and what this reveals with regards to ourselves.

Review"Bernstein's book is a arousing and attention holding read, specially in light of the recent run-up in the price of gold. Should gold once again be viewed as a currency, as so a good deal of commentators have suggested? Were he still alive, Bernstein might laconically answer, 'Read my book.'" (Seeking Alpha, May 2012)

From the Back CoverPraise For The Power of Gold

"Mr. Bernstein has turned this story—not an evident golden prospect for even a writer of Mr. Bernstein's skill—into a real page-turner."
—The Wall Street Journal

"Bernstein . . . does full justice to his material. Almost each chapter holds a good deal of detail to surprise or delight. "
—Financial Times

"There are sugarplums allround the book. . . .The pleasure of the bookis in it is sheer number of unknown places and interesting episodes."
—The New York Times

"Bernstein's volume is a tour de strength with a satisfying conclusion: The charactersin this drama prove themselves 'fools for gold, chasing an illusion.'"
—Business Week

"Admirably written . . . a marvelously interesting view—not alone of gold but of thegreater economic history. Like other of his work, it is assured of a wide readership."
—John Kenneth Galbraith, Professor of Economics Emeritus, Harvard University

"The triumph of Peter Bernstein's book is that in the end you comprehend why and how it happened that the golden dog no longer barks. "
—The Boston Globe

"The range of exploration apparent all around the book is staggering. . . . Bernstein's ear for the telling quote is pitch perfect."
—USA Today

About the Author

The late Peter L. Bernstein was President of Peter L. Bernstein, Inc., an economic consulting firm for institutional investors he founded in 1973, after galore years of managing billions of dollars in person and institutional portfolios. Bernstein was also the author of ten books on economics and finance, including the bestselling Capital Ideas, Capital Ideas Evolving, and Against the Gods: The Remarkable Story of Risk. His writing combines the zest of a historian with the meticulous analytical powers of an economist.

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