We have often seen requests to show the price of gold going back as long as possible. Tonight we can oblige, with a gold price chart, indexed in 2010 British Pounds, going all the way back to 1265...
...To the surprise of many, the early 1980s gold price surge is not the only time in history when gold exploded. It appears that based on the surge in gold back in the late 15th century, there was actually quite a serious need for Columbus to go forth and find a source of gold, because last we checked Ferdinand and Isabella did not have Bernanke's money printers back then. And yes, as Goldman says, there were no ETFs back in the 16th century to draw demand away from the real deal and into make believe exposure.
Ben Bernanke could not be reached for comment at press time.
Related: Introducing the Obama Financial Anxiety Index Level™ (O-FAIL for short)