GUIText won't clear

I am using GUIText component to display debug info on the screen. But once the text is written it doesn't clear, if I change the text on the component property, it just overwrites the original text and is unreadable.

I couldn't find a solution and so I looked on the asset store for a tool that could do this job for me. I purchased SmartConsole. But guess what? it uses GUIText and does exacatly the same thing, ahhhhhh!!!

Even if I destroy the Object that GUIText is attached to, it does clear from the camera. see screen shot below.

I am using 4.6.1.

Is there a trick to clearing the camara GUI layer with text rendered from GUIText?

 

Is your UI camera's Clear Flags field set to Depth Only?

 

Thanks that fixed it.