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Murray Pollitt's final commentary: Money mountain
1:20p ET Monday, February 6, 2012
Dear Friend of GATA and Gold:
GATA has received word of the death yesterday of our friend, Murray H. Pollitt, president of the Toronto brokerage house Pollitt & Co. and longtime advocate of gold's monetary functions. His final market commentary, distributed last week, "Money Mountain," predicting that infinite money creation by central banks would inevitably flow into equities, is posted at GATA's Internet site here:
http://www.gata.org/files/MurrayPollitt-02-03-2012.pdf
Here's Pollitt's biography from the Pollitt & Co. Internet site:
http://pollitt.com/index.php?act=our-people
"Murray H. Pollitt received an engineering degree from the University of Toronto in 1963. He worked as a junior engineer for a couple of years before being introduced to the investment community in 1965 where he started off as a mining analyst for a major Canadian investment dealer.
"Shortly after, he was writing the weekly market letter in addition to his mining research. Murray became a student of the gold market during the latter stages of the Bretton Woods era. He found gold's function as both money and a commodity intriguing, both then and now.
"After five years he left to seek greater 'freedom of expression' and joined a smaller investment dealer where he was an analyst and stockbroker for the next 15 years. Trading gold futures on his own time, he put profits to work for him in Val-d'Or. where he acquired his first gold claims package for himself and friends.
"All of which led to the development, financing, and construction of four Canadian gold mines in which Murray was directly involved. Today two of those mines are operating in good health with over 300 employees.
"In 1984 Murray and two other partners co-founded their own investment firm, which is now known as Pollitt & Co. Inc. As the firm approaches its 25th anniversary, Murray continues to advise clients. He is still an avid writer, respected gold analyst, and president and director of the company."
Pollitt's death is a great loss for our side. Our condolences and gratitude go to his family and friends.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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