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The Story of Silver: How the White Metal Shaped America and the Modern World [Hardcover]

Item : The Story of Silver: How the White Metal Shaped America and the Modern World [Hardcover]
List Price  : $29.95
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Price : $24.99 (see below)
Category : Books
Author Author : Silber, William L.
ISBN-10 ISBN-10 : 0691175381
ISBN-13 ISBN-13 : 9780691175386
Publisher Publisher : Princeton University Press
Pages Pages : 328
Binding Binding : Hardcover
Item ID : 102808447

How silver influenced two hundred years of world history, and why it matters today

This is the story of silvers transformation from soft money during the nineteenth century to hard asset today, and how manipulations of the white metal by American president Franklin D. Roosevelt during the 1930s and by the richest man in the world, Texas oil baron Nelson Bunker Hunt, during the 1970s altered the course of American and world history. FDR pumped up the price of silver to help jump start the U.S. economy during the Great Depression, but this move weakened China, which was then on the silver standard, and facilitated Japans rise to power before World War II. Bunker Hunt went on a silver-buying spree during the 1970s to protect himself against inflation and triggered a financial crisis that left him bankrupt.

Silver has been the preferred shelter against government defaults, political instability, and inflation for most people in the world because it is cheaper than gold. The white metal has been the place to hide when conventional investments sour, but it has also seduced sophisticated investors throughout the ages like a siren. This book explains how powerful figures, up to and including Warren Buffett, have come under silvers thrall, and how its history guides economic and political decisions in the twenty-first century.

"One of the Financial Times' Summer Books of 2019: History"William L. Silberis the Marcus Nadler Professor of Finance and Economics at New York Universitys Stern School of Business. His many books includeWhen Washington Shut Down Wall Street(Princeton) andVolcker(Bloomsbury). He lives in Teaneck, New Jersey. The Story of Silveris the biography of America's first monetary metal. Biography is the word, as William Silber's colorful narrative is one of personalities as much as it is of ideas and events. Like gold, silver can preoccupy its fans to the point of obsession, as it didl£X

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