King Midas was a famous king from Phrygia in Asia Minor.  He was  a very rich king, but unfortunately his greed far surpassed his wisdom. King Midas's greatest desire was to be the richest man in the world, and this desire filled all his thoughts. 

One day an old satyr called Silenus came to King Midas' palace. King Midas recognized Silenus as a friend of the god Dionysus, and saw through Silenus an opportunity to increase his own wealth. King Midas invited Silenus into his palace and showed him great hospitality entertaining him generously. The god Dionysus naturally was quite  pleased with king Midas's hospitality.  In appreciation of the hospitality king Midas showed Silenus the god Dionysus offered King Midas a wish for anything he desired.  King Midas greedy as he was quickly wished without thinking that everything he touched be turned to gold. This would clearly make him the richest man in the world. 

King Midas at his court

The god  Dionysus kept his promise and as a result everything king Midas touched turned to gold. King Midas then went round his palace and in glee turned all he could to gold. King Midas then became hungry and decided it was time for him to eat, at this time his wish turned against him.. Whatever king Midas touched turned to gold .. even his food.  In his great hunger king Midas no longer longed for gold but for the most basic of foods.  The king begged the god Dionysus to take away his retched  gift.  The god Dionysus pitying the king told him his touch could be removed by bathing in the river Pactolus.  King Midas quickly went and bathed in the river, the river  then became golden as a result of  the kings'  body touching water.  Till this day the riverbank appears golden as a result of  king Midas's golden touch.

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For your interest take a look at: Greek Saying, Click Here! for a Greek saying that has origins in this myth.