A $1 million Wager for Gold Bears

[Arkie]

'I am sure Gold is headed for $1650'

Dear Comrades in Golden Arms (CIGAs),

In time like these I invite you to put your non-margined hand in my totally confident hand. Remain calm as we walk through the wildness of the gold market on our way to $1650.

I know gold is headed to $1650. If the voicing of my opinion alone is not enough for you today, then allow me to demonstrate my commitment to my view of gold.

We wish the Fed, the US Treasury and all other central banks well in this process as there is NO other alternative.

However, KNOW that there are consequences to the increase of un-drainable international liquidity created to craft the appearance that no further major international investment or banking companies will need rescuing.

My position in time and price is that Gold will trade at USD $1650 before the second week of January 2011.

I am offering a $1,000,000USD wager to a financially qualified party that this price will occur within the stated time frame.

Any party on Bloomberg, CNBC or CNN Business stating an opposite opinion on the price of gold should be informed of this challenge.

Please communicate to ANY vocal bearish (so called) gold expert that I challenge them to put their money on their views.

Any commentator unable to financially meet this challenge should not be opining. If they really knew the gold and currency market they could easily meet the challenge.

I am relying on all CIGAs to communicate this wager to any vocal bear and suggest that they stop flapping their lips and put their money where their mouth is.

It is one thing to type on a computer or be a talking head. It is another to bet the ranch on the view you espouse.

The technical procedure of a serious wager is:

Prove you can in fact wage the challenge through an attorney's letter.
Segregate the funds in cash or near cash in the hands of your attorney.
Execute an agreed upon binding contract stating the terms of the wager.
This offer is void in areas where wagering is illegal if any such areas still exist in our algorithm-geek casino world!

Respectfully yours,
Jim

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