Benzinga.com – Hedge fund manager Kyle Bass believes investors have yet to see the highs in gold. Bass cites a pattern that has been established among central banks, where fiscal deficits are monetized through the expansion of balance sheets.
“Call it what you want,” the founder of Hayman Capital tells CNBC’s Bob Pisani. “Call it LTRO, call it quantitative easing, or any acronym that the powers that be want to call it. I call it money creation out of thin air, and therefore, gold has got a lot further to go.”
Bass’s reputation as a gold bull is well-deserved. When Texas University invested $1 billion in gold, he advised its board to take physical delivery of the precious metal. According to Bass, the reasons for taking physical delivery were more practical than they may seem.