Silver Bears

by Paul Emil Erdman

THE SILVER BEARS involves a Swiss bank controlled by the Mafia, an ancient silver mine rediscovered in Iran, bullion smugglers on the Persian Gulf and an American speculator living in England. With his great storytelling gift and singular experience in world money markets, Paul Erdman takes us through the twists and turns of a complex plot to make a huge fortune in silver. As powerful men manipulate the market, one is reminded of 1979-80 when silver went from $5.00 to $50.00 an ounce.

Genres: Novels, Thriller, Fiction

464 pages, Paperback

First published January 1, 1974

About the author

Paul Emil Erdman was one of the leading business and financial writers in the United States who became known for writing novels based on monetary trends and historical facts concerning complex matters of international finance.

Erdman was born in Ontario, Canada, to American parents. He graduated from Georgetown University’s Edmund A. Walsh School of Foreign Service. He received his PhD from the University of Basel (in Switzerland). In 1958 he worked as a financial analyst for the European Coal and Steel Community. Between 1959 and 1961, he worked as an economist at the Stanford Research Institute at Menlo Park.

Erdman returned to Switzerland where in 1965, he founded and was the president of a Swiss bank - the Salik Bank. In 1969, the United California Bank in California bought a majority stake and renamed it the United California Bank in Basel. The bank collapsed after taking large losses speculating in the cocoa market. Erdman and other board members were accused of fraud and Erdman spent time in jail awaiting trial.

While in jail, he wrote his first novel - The Billion Dollar Sure Thing (1973). It received a 1974 Edgar Award from the Mystery Writers of America for Best First Novel and was published in the UK as The Billion Dollar Killing. He was released on bail and fled from Switzerland. He was subsequently convicted in absentia. His second novel, the The Silver Bears (1974) was turned into a 1978 movie of the same name, starring Michael Caine. His books were well researched and contain convincing details. Despite the underlying complexity of his novels, his lucid writing style had enabled readers to learn complex concepts such as interest rate swaps, and his novels had often been bestsellers. The information in The Swiss Account is credited with providing a basis for helping track down the assets of Jewish victims of the holocaust.

Reviews

[Fardokht Sn]

تمام داستان برای من گنگ و مبهم بود

[Henri Moreaux · Rating 4 out of 5]

This was the second novel written by Paul Erdman, it was written after he fled Switzerland when he was released on bail. It is his first novel outside of jail (The Billion Dollar Killing was written whilst incarcerated).

The novel is well constructed, although having read some of his other works you can see a definite evolution in complexity and plots in the later novels.

Unlike some books where the author tries to bumble their way through knowledge gaps with generalisations it is clear the author has a good understanding of the topic at hand. One would presume so after all considering he did go to jail for his part in the collapse of Salik Bank after it took large losses speculating in the cocoa market.

The story basically covers a group of Americans who decide to open a Swiss bank to hide their money. They get drawn into a deal on an Iranian silver mine amidst a skyrocketing silver price which then makes their new bank a target for a shady corporate take over by a billionaire who is trying to corner the silver market.

An enjoyable read on the commodity markets with some international finance intrigue thrown in, if you enjoy this I'd highly recommend The Crash of '79, Last Days of America and The Panic of '89 - these are later Erdman books which are slightly more refined and very enjoyable.

[Myth Liberated · Rating 3 out of 5]

متاسفانه کتاب رو نصفه خوندم اونم به خاطر اینکه کتاب رو پاره کرده بودن ولی مون صفحات رو که خوندم به نظر یه داستان عامیانه ماجراجویانه معمایی ساده هست تا به عنوان سرگرمی خوندش وگرنه چیز خاصی نداشت.نمیدونم از این نویسنده کتاب دیگری هم به چاپ و ترجمه رسیده یا نه اما اگه بقیه کتابها هم این طوری باشه چندان چنگی بدل نمیزنه

[Monzenn · Rating 5 out of 5]

Low five. The closest comparison for me would be one of the Jeffrey Archer books, where they try to swindle this rich guy through the markets. Overall I am fascinated by the story of silver and the machinations of the commodities market, so this is a good read for me.

[Cole Esleeck · Rating 3 out of 5]

Read this back in houston from quarter priced books and boy this was a decently fun on. I remember character names were hard to follow but at the end finding out they got so badly duped was hilarious.

Love a financial thriller when it comes to movies so makes sense id like this one

[Dryan1066 · Rating 4 out of 5]

Really fun story. Always enjoy the author

[Thrillers R Us · Rating 4 out of 5]

Resonating with the clarity and finality of the NYC Stock Exchange closing bell, Paul E. Erdman settles it once and for all; who are worse crooks in the late 1960s, the Mafia or the Financial Industry Juggernaut of the US. In THE SILVER BEARS, it is a time when bankers weren't gentlemen and corporate executives didn't live by the rule book. Needless to say, things haven't changed much since 1968. Perhaps it was a simpler time, when an eleventh floor 2-bedroom suite at the Istanbul Hilton was priced at $37 per night, and you could still take a .32 automatic onto commercial airliners. But as was true then as well as now, when high-speed finance and money is involved, shysters come a-crawlin' out of the woodwork.

Contrasted with the world of banking, marble floors, indirect lighting, hushed voices and dark blue suits, is the stark and sand-blasted province of Khuzistan, in the Southwest of pre-revolution Iran & darling of US oil and financial interests. THE SILVER BEARS launches the adventure with a recap of the Bible, silver production and Iran. Bears, Lions, Money - oh my! Included in the cautionary prologue is a dangerous myth that would give Howard Carter pangs of jealousy; there is evil connected with the silver in Elam, perhaps even a curse. With the regional (and biblical) legend of Daniel and the Lion's Den strengthening the spine, the plot goes all the way to Zurich, in the heart of gnomeland. In the mix are a sophisticated silver smuggling op, a Swiss bank, the Las Vegas mob and among others, a British engineer with ties to war-torn Rhodesia by the name of Ron Howard.

When money is flowing fast and loose, the operation is soon interfered with by strong arm tactics and blackmail. It would be unjust to blame this on the Mafia, as those ruling the financial centers of the world act more boorish than their Cosa Nostra associations. In fact, this mission is one of intrigue, requiring subtlety, cunning, and coolness, setting up a con that'll make the 'Year 2000 problem' look like child's play. Interspersed with money, lust, and power is a fine refresher course on international finance, going long, short, about futures, and buying on margin.

A simplified principle on human behavior with regards to the financial industry is that when nobody loses money, nobody cares. The commodities (futures) market, however, is a zero sum game; when someone wins, someone has to lose. And before that happens, readers of THE SILVER BEARS will bear the worming question of could the Bible be wrong and whether or not to take the cash.

[Ed · Rating 4 out of 5]

Finalist 1975 Edgar Award for Best Mystery.

Financial thriller - A Swiss bank controlled by the Mafia, an ancient silver mine rediscovered in Iran, bullion smugglers on the Persian Gulf and an American speculator living in England take us through the twists and turns of a complex plot to make a huge fortune in silver.

[WildernessGeneral · Rating 2 out of 5]

Paul Erdman can teach you more about economy than most schools, but this book didn't catch me like his other books have. I think the plot moved too slowly. Parts about the history and culture of Iran were very interesting.

[DS Kane · Rating 4 out of 5]

I read this right after I began working as a banker, and Erdman's book taught me most of what I needed to know about commodities trading. The Silver Bears is a fast read, a dash between the bank vault and the prison exercise yard. Great fun, entertainment and information at the same time.

[Paul · Rating 4 out of 5]

This is a solid tale where you're likely to feel for the characters and maybe learn a little history. Erdman is a talented writer, and this has pretty good pacing and a good plot. Recommended.

I really appreciate the copy for review!!