Final answer:
The phrase from 'The Hobbit' suggests that it takes a bold or greedy person to fixate on gold, which can lead to unethical actions. It's not stating that money is evil, but warns about the love of money and the greed it can cause.
Step-by-step explanation:
The phrase 'The heart is bold that looks on gold' from the dwarves' song in The Hobbit signifies that it takes a courageous and possibly greedy person to fixate on gold or wealth. This line suggests that facing wealth can lead to boldness, but also implies that this boldness may stem from greed, which can corrupt. It does not directly align with the phrase 'money is the root of all evil,' but rather suggests that it is the love of money, or an obsession with it, that can lead to bold and potentially unethical actions. This sentiment echoes the biblical reference in 1 Timothy 6:10, which states that 'For the love of money is the root of all evil; which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.' The excerpt from The Hobbit does not claim that money itself is evil, but it cautions about the boldness and greed that the prospect of gold can inspire in the heart.