Central banks and gold : how Tokyo, London, and New York shaped the modern world /

Bob Marley once sang, "Don't gain the world and lose your soul: wisdom is better than silver or gold." Luckily, there is plenty of research in this book on central banks and their use of gold reserves--and it will not cost your soul. Truthfully, one should probably have a greater than average interest in central banks to appreciate this book. For those who find the work of central banks interesting and appreciate their historical significance, this book will be engrossing. It is surprising how much cooperation existed between the central banks in London, Tokyo, and New York in the early decades of the twentieth century. It takes no great logical leap to see the connection between these banks and the rise of global finance. Gold was the lowest common denominator connecting these institutions and helped define their geographic power (e.g., the world's three largest financial markets). This book is well written, clearly organized, and impeccably researched. Whether everyday readers will find it of interest is doubtful, but for central bank junkies and those interested in early financial history it is a fascinating read. Summing Up: Highly recommended. Upper-division undergraduates through professionals. --Robert H. Scott, Monmouth University