Felix Zulauf tells King World News:
"... [T]he fiat currency, paper currency standard, is in the final stage of the ‘super cycle.’ Fiat currency systems always collapse at the end. We are in that stage of the super cycle where things are accelerating.
"I don’t know how many years we still have, but you can assume that central banks will, as the ECB stated just recently, will do everything necessary to prevent a collapse of the system. That means they will even finance bankrupt governments, they will finance bankrupt banks, they will finance every bankrupt entity that is important to the system.
"That means they debase our paper currencies further and further, and in an accelerating way. This is very bullish news for all of the gold holders of course. A good year or so ago, gold had accelerated into a sort of a climax peak above $1,900. It has taken almost a year to correct that sharp advance.
"I think gold has absorbed the selling pressure very well, and has gone through a lengthy, cyclical corrective process, into the low $1,500s. There was always a risk that it could break down once more to make for a climax low, but I don’t think this is likely anymore. The odds of that happening have decreased. ..."