This episode covers the European lust for gold which led them to South America and the Spanish slaughter of the natives for their gold. Also covered is what the Europeans wanted the gold for, which was to trade with the East for spices and textiles. Interestingly, the favour was not returned with very little of the gold returning to Europe from the East. This episode also covers the rise of using gold as the basis for currencies and economies and the institution of the Gold Standard which was an agreement that the price of gold would be set to a certain amount of Pounds. This was the basis of the world's economy until the 1960s, in one form or another.