Marc Faber: Buy Real Estate To Protect Yourself Against Wealth Destruction

Marc Faber is interviewed on Yahoo Finance on the 9th of April 2012 where he explains that home prices in the south of the U.S., in Arizona, Georgia, Nevada and so fourth, are relatively inexpensive compared to other asset prices and recommend people to buy real estate to protect themselves - or as he puts it: "lose the least" - against massive wealth destruction when that happens. He further explains that he does not know when the collapse will happen, maybe when the Dow Jones is at 20,000, 100 millions or 100 billions depending on how much money Mr. Bernanke is ready to print.

He does not recommend buying real estate builder stocks however, as those have increased a lot recently and are likely to correct.

John Williams: US Deficit Is Really 5 Trillions US Not 1.3

VisionVictory interviewed John Williams of Shadow Stats. 

Mr. Williams explains that if the government used Generally Accepted Accounting Principles (GAAP) like corporations do, the US deficit would actually be close to 5 trillions instead of the announced 1.3 trillions for 2011. This number includes NPV of unfunded liabilities. That's a deficit corresponding to a whooping 30% of GDP...

He also says that the loss of confidence in the US dollar has already started, you don't want to be in the US dollar and buy precious metals (Gold, Silver) or strong currencies such as the Canadian Dollar, Australian Dollar and Swiss Franc. 

Finally, he recommended people to store food, as when (not if) the financial system and the US dollar collapses there should be supply disruptions.