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Books > History > Asian / Middle Eastern history
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War and Gold (Hardcover)
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War and Gold (Hardcover)
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The world was wild for gold. After discovering the Americas, and
under pressure to defend their vast dominion, the Habsburgs of
Spain promoted gold and silver exploration in the New World with
ruthless urgency. But, the great influx of wealth brought home by
plundering conquistadors couldn't compensate for the Spanish
government's extraordinary military spending, which would
eventually bankrupt the country multiple times over and lead to the
demise of the great empire.
Gold became synonymous with financial dependability, and following
the devastating chaos of World War I, the gold standard came to
express the order of the free market system. Warfare in pursuit of
wealth required borrowing--a quickly compulsive dependency for many
governments. And when people lost confidence in the promissory
notes and paper currencies issued during wartime, governments again
turned to gold.
In this captivating historical study, Kwarteng exposes a pattern of
war-waging and financial debt--bedmates like April and taxes that
go back hundreds of years, from the French Revolution to the
emergence of modern-day China. His evidence is as rich and colorful
as it is sweeping. And it starts and ends with gold.
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