Marc Faber talks about the recent market sell-off on CNBC on the 5th of August 2011 .
He thinks it is very unlikely that we reach new highs and he would be using rebounds has a selling opportunity whether Q3 is enacted or not.
He says Treasuries has still perceived as a safe heaven. His view is that gold and silver are overbought in the short term, but would buy again on any dips.
He also explains again his prediction of the total collapse of the economic system further down the road where cash and treasuries will be worthless, stocks will go down but still hold some value and precious metals should perform relatively well.