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A tribute to South Africa's 'Mr. Gold,' longtime GATA supporter Peter George
9:34p ET Tuesday, March 5, 2013
Dear Friend of GATA and Gold:
Peter George, the "Mister Gold" of South Africa who helped introduce GATA there and spoke at GATA's market-changing conference in Dawson City, Yukon Territory, Canada, in August 2005, died over the weekend after a long struggle with cancer. He was 70.
GATA has never tired of quoting his incisive remark to our video crew on the eve of the Dawson conference, which can be viewed at the 35-second mark in the first video frame at GATA's Internet site here:
"In the last 10 years," George said, "the central banks have effectively shown that when there is a real crisis, gold actually goes down. And it's so blatant, it's a joke."
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George was a South African patriot, sticking with his country throughout its transformation to multi-racial democracy, sharing GATA's belief that, because of imperialism and bad internal management, South Africa was a rich country insisting on being poor but that it could and must lead all of Africa to sovereignty, law, free markets, and prosperity.
GATA has requested some obituary information from George's family and friends and it's appended. A photograph of George making his presentation to the Dawson conference (taken by Stephanie Powell) is posted here:
http://www.gata.org/files/PeterGeorge-DawsonCity-08-2005.jpg
Our condolences go to George's wife, Alison, their children, grandchildren, and friends, and, really, to all of South Africa, which doesn't yet appreciate the power and promise under its own feet.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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In Memory of Peter George
Peter George was 70 years old when he graduated to higher service. He was married to Alison for 44 years. They have three children: Quinton, Chloe, and Susannah; and eight grandchildren.
Peter grew up in Natal, where he attended Cordwallis and Michaelhouse. Thereafter he studied his PPE (Politics, Philosophy, and Economics) at Oxford University in England. On his return to South Africa he completed an MBA at the University of Cape Town.
Having originally wanted to study medicine, he ended up as a stockbroker in Johannesburg. His gift in forecasting major market trends was legendary and he soon found himself in the late 1970s in the most significant bull market in gold and so his business was booming. It was only when the gold price started tumbling and he eventually lost his business and money that God arrested him as a confirmed atheist. He had a dramatic encounter with God that changed his and his family's lives forever.
He moved to Cape Town in 1991 and after a year promoted investment in the bond market. His timing was spot-on and interest rates started to drop. For many years Peter produced "Bulls & Bears," a weekly illustrated column in the Cape Times describing bond option strategies. Later, as the gold market got going, and based on his exhaustive research, he produced a regular newsletter called "Investment Indicators." The letters are a marvelous blend of Scripture, prophecy, and penetrating contrarian thinking.
During this time in their offices in Kenilworth he started a weekly prayer meeting with Paul van der Hoorn, a young Christian, keen to grow in the ways of the Lord; this gave birth to Round Tables of Prayer (ROTOP). This wonderful organization is one of the legacies of Peter George. This vision of strengthening men through prayer has helped many men through difficult times and has financed, encouraged, and blessed many families as they have grown in the ways of the Lord.
Peter had Smith Wigglesworth certainty of faith. He was a marvelous soul winner distributing his testimony to small and great, skelms and presidents, in season and out of season. He had a passion for worship. He truly was a mighty man of God, a genius, a man among men. The legacy of this mighty lion lives on in his family and all the people he cared for and loved.
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Peter made some brave calls on the rising price of gold and the strengthening of the South African rand.
He was convinced that the fiat money system (the printing of money without something backing it) was dishonest. He would refer to the passage of scripture (Proverbs 20:23) that says: "God hates false weights and measures." He was passionate about gold and silver being God's economy and therefore a true measure of wealth.
He pointed out that gold is mentioned many times in the Bible, but more importantly, in the very beginning of creation in Genesis 2:10–11, which speaks of the land of Havilah, "where there is gold; and the gold of that land is good." Peter argued, "If God says it is good, then it must be good and we ought to have it as our measure of true wealth."
Peter was passionate about helping people understand the role of gold in the economy and how to protect their investment portfolios when world markets were crashing. He bravely forecast the rising price of the gold market when gold went to $850 in 1980. South Africa's Sunday Times dubbed him "Mister Gold."
The rand collapsed in 2003 and South Africans panicked. They thought it was going to 30 per dollar. They were rushing their assets offshore. Peter boldly told them in his newsletter: Bring your money back because the rand will strengthen. People thought he was stark raving mad. His prescient call missed the rand low by only a week. Then the rand strengthened all the way back from 12 to the dollar to six!
Peter was on first-name terms with the who's who of the gold industry, past and present. Famously he counselled AngloGold in many urgent telephone calls to unwind its 11-million ounce hedge book while gold was in the $300s because higher prices were coming. He was scorned. When the company finally unwound its hedges at much higher prices, it cost nearly $3 billion and massively destroyedg shareholder value.
From the beginning Peter was a supporter of Gold Anti-Trust Action Committee, which fought tirelessly against gold price suppression. He was a speaker at a number of GATA's international conferences.
Jesus used Peter to save many businessmen going through deep and seemingly impassable water. Peter's passion was raising young men and Timothies, as he did with Chris Hall. Leading from the front by example he encouraged all ROTOP members to take young men under their wing.
Peter had a great passion for the African people. He adopted three black children and was never happier than when brothers from Khayalistha and elsewhere came to ROTOP.
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
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