Back in April 2011, just before gold exploded to a record above $1,900 following the US credit rating downgrade, we first said - and Kyle Bass echoed - that the main reason behind our long-running, bullish view on gold is that the Fed can't print gold , unlike every other asset. Today, with a 9 year delay, Bank of America has caught up with where we were at the start of the decade, and repeating virtually everything we have said - consistently each day for over 11 years - says that while "the size of major central bank balance sheets has been stable at 21 to 28% of GDP in the past decade just like the gold ... (full story)