Publisher's Weekly Review
Object of lustful desire, symbol of the divine, and representation of great temporal wealth, gold has clouded mankind's judgment for millennia. Here, with remarkable clarity, Hart (Diamond) reveals our historical and economic relationship with this beguiling metal. Drawing from solid research, Hart informs us that in recent years of economic uncertainty, demand for gold has surged, increasing both its price and its production. In fact, the total current global supply continues to grow at an incredible rate while being traded with unprecedented speed and ease. With discussions including the modern mines of South Africa, Pizarro's conquest of the Inca, the London Gold Fixing, as well as hedge funds and gold bullion ETFs, the work not only explores the world history of a commodity, but also provides keen insight into the mechanics of the modern gold markets and its driving players. Combining the engaging style of a travel narrative with sharp-eyed journalistic expose, Hart's lucid book should find an audience ranging from goldbugs and investors to market-watchers and everyday consumers curious to learn how gold has influenced world history and the present economy. (Dec.) © Copyright PWxyz, LLC. All rights reserved.
Kirkus Review
Overview of gold's perpetual dominance over modern and past societies, focused on historical and economic issues. Characterizing the preceding millennium's obsession with gold as "a murderous, cruel, intoxicating, brutal adventure," Hart (The Irish Game: A True Story of Crime and Art, 2004, etc.) moves swiftly from discussing current armed conflicts in South African mines to Francisco Pizarro's 16th-century assault on the Incan people, which filled Spain's imperial coffers and accelerated Europe's gold-based economy. The author's general approach is to flit between multiple elements pertaining to the topic. Several chapters examine the controversial concept of economies based on the "gold standard" of direct exchange: "The strict operation of the gold standard sent regular waves of misery through the world, as the vagaries of trade would drain a gold supply and lacerate an economy." This resulted in regular convulsions within the United States, providing grist for conspiracy theorists. Hart focuses on watersheds like the 1892 run on gold, Franklin Roosevelt's executive order barring gold hoarding, and the lesser-known account of Richard Nixon's suspension of gold convertability in a startling prime-time speech. Today, the author argues that shadowy gold trading groups like the British "Spider" (from SPDR Gold Shares) establish the market value of gold using complex methodologies not unlike those that precipitated the Great Recession. He also looks at how gold fever has seized post-reform China, the eccentric geologists whose innovations led to enormous strikes beginning in the 1950s, and pulpy tales of stolen gold. Hart is a fine close-in journalist, gathering many engaging facts and anecdotes about gold's production and endless manipulation within the world economy and human psychology, but the lack of a compelling central narrative makes the work feel less cohesive. Recommended for those determined to speculate in gold as an alleged hedge against economic tremors.]] Copyright Kirkus Reviews, used with permission.
Booklist Review
The financial crisis of 2008 pushed the price of gold to more than $1,000 an ounce, giving new allure to a commodity long considered precious, even sacred. Veteran journalist Hart begins with an astonishing chronicle of the arduous work of miners and thieves in a South African gold mine miles under the earth in a feverish hunt for the metal that seems to inevitably tie wealth to corruption. It's an old story Hart traces, from the Spanish conquest of Incan gold to the American gold rush of the 1800s to modern-day speculation in the face of financial uncertainty. Gold has figured prominently in international market booms and busts, monetary policy within nations, and debate about the virtues and drawbacks of the gold standard. Even as the U.S. dollar has come to dominate the global financial system, gold has never lost its glittering appeal. From deep within the gold mines of South Africa and China to corporate boardrooms, from miners and thieves to body guards and gold traders, Hart (Diamond, 2001) offers a fascinating look at the geology, geopolitics, and economics of gold.--Bush, Vanessa Copyright 2010 Booklist
Library Journal Review
Here Hart (Diamond) chronicles the story of gold, those who wish to find it, and those determined to profit from it. Broad in scope, this audiobook covers prospecting, processing, speculation, trading, and gold's impact upon the world's monetary system. Included are scenes from the author's research involving the mistreatment of individuals, the underhanded deals, and the calculation of world powers all in the name of possession of gold. Reader David Drummond uses expert pacing and unaffected diction to bring life to both the tales of individuals whose lives are affected by the mineral and the often intricate explanations of the processes involved in finding, mining, and selling it. verdict This title will appeal to history buffs and individuals interested in world economy. Though the work focuses on the history of gold exploration and its effects on those who strive to obtain the mineral, it does give a brief overview of investment opportunities and pitfalls. ["Business professors and students, investors, and general readers will find this an informative and fascinating study," read the review of the S. & S. hc, LJ 1/14.]-Lisa Youngblood, Harker Heights P.L., TX (c) Copyright 2014. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
