Calling my bet with Turd [UPDATED]

Hullo, Screwtape types. It's been a long time. Did you miss me?

So, those of you with long memories will recall my post at the end of 2012, setting out the case for gold being about to enter a serious bear market. At the time, gold was at $1672/oz (woah - remember those days..?) and had put in rather a stinker of a year.

I pointed out the simple, almost trite, fact that anyone - ANYONE - who had advised you to buy gold during 2012 had been wrong. Not maliciously wrong, perhaps, but wrong anyway. And I thought that this fact should arm the future readers of the silverogosphere in 2013 when considering their next steps.

The Bill Murphy wager update

This is the correspondence between Bill and I regarding the wager. 
According to bill gold should be at $3200 shortly. Below is the original post which I sent bill in an email. See linky for original post


To: elpresidente@gata.org
From: Louiscypher
cc: GATA
Date: Tuesday, August 14, 2012

Dear Bill,

I read your piece via Zerohedge.com yesterday and 

was pretty much in shock. I assumed your account 

got hacked and some rogue hacker is now running 

around twitting, twatting, skit skating, spamming and flambéing with your good names. 

However, it's been 24 hours and there are no denials so I guess you guys really, actually expect the price of Gold to double in the next 90 days.

Now seeing as you have put this out there I'll assume you are going to buy some leaps and make some paper on this. 

Indeed (as newsletter writers like to say), as you are entirely comfortable having the general public make similar bets I have a proposal for you guys.

I will bet 1 Oz of 24K gold US mint issued coin that it will not double. I will also eat your shorts if it does double in the the next 90 days. If however it does not double in the next 90 days then you will give me a 1 Oz 24 K Gold coin issued by the US mint. 

Now I'll understand if you guys want someone to hold the coins and shorts in escrow. May I suggest the boys at ZH for the Gold and JPM for the shorts?

Sincerely,

Louis D. Cypher

Read Bill's reply below

GoldMoney replies

Readers may recall this post of mine on 17 February, in which I reported on the curious phenomenon of 'spikes' in the GoldMoney prices for gold in Pound Sterling (GBP).

Essentially, on days in which there is a big shift in the GBP/USD pair there is usually a corresponding spike (of up to £15/$20) in GoldMoney's gold price after trading closes. No such spike appears on any other website's charts, so it appears to be a phenomenon unique to GoldMoney.

GoldMoney has been in contact with me and this is their explanation, which I think only fair to reproduce here: