The crazy god Dionysus is traveling to Mount Timolus (somewhere in Turkey) with a large group of followers.
One of his companions, Silenus, gets drunk and loses his way. Not all that strange in the scheme of Dionysus-related happenings.
But things get exciting when some peasants find Silenus and take him to their king, Midas. (Yep, that's the Midas of the title.)
Midas recognizes Silenus as a follower of Dionysus and honors him with a ten-day feast, because apparently that's a big deal.
When Midas returns Silenus to Dionysus, the god of wine rewards Midas by offering to grant him a single wish.
Midas's wish? That everything he touches would turn to gold. (Sounds like a good choice to us.)
At first, Midas loves his new power, but when even the food he tries to eat turns to gold, he panics. (Hmmm, we didn't think about that part.)
When Midas begs Dionysus to take back the wish, Dionysus tells him to bathe in the river Pactolus.
He does, and the power of his golden touch flows out into the water, leaving gold nuggets in the sand. Ta-da—wish ungranted.