Marc Faber : I would Buy (Real Estate) for Cash , you understand my view is this , I think investors over the last thirty years certainly since the low of the stock market in august 1982 when the Dow Jones was at 800 , I have become accustomed at asset crisis whether it is real estate or equities or bonds always go up and I think we are in a period which it will end and I do not know when it will happen whether it happens tomorrow or in five years or in ten years but at some stage there will be a huge wealth destruction now as an investor , of course I have also long positions in equities not so much actually hardly in the US but equities here in Asia I have real estate in Asia and I have some cash and bonds and of course a large position in gold but basically I believe that we have to start to think what will protect us best from a complete wealth destruction in other words if the credit bubble really burst and everything collapses what is relatively safe , so I look at say , I was in Atlanta and I was in Phoenix , I look at homes they're selling say 70% below construction cost , yes they can still go down in value and may be they will but all I am saying is in a complete collapse they'll still have some value because people will have to live somewhere they won't be all empty where as equities and bonds who knows ? may be a lot of bonds will default and will pay you back in money that is worthless that's the real threat say in the United States , the US will always be able to print money and so if you buy a treasury for sure you get the money back the question is what will the value of that money be ? because as you may know Janet Yellen another genius that is at the federal reserve vice chairman she said it is possible we would take interest rates into negative territory I would be voting for that , well interest rates are negative inflation adjusted , your inflation is I think between five and ten percent per annum
