Goldbug Jim Sinclair's Silly Million Dollar Challenge

Here is something I can't figure out.

Allow me to introduce gold bug and financial advisor Jim Sinclair. A guy that is In Luv with gold as a profit play.
His big schtick has been to predict a price of $1650 an ounce.
He strokes his passion for the shiny stuff like a throbbing hardon. It seems to be the obsession of his whole otherwise empty life.

Most folks know Jim and his hard money website www.jsmineset.com has news and commentary I can honestly say you will find nowhere else.

He befriends his readers with reassurance in light of the recent downturn off 10% from its bull peak a few weeks ago. In other words, he's redoubling the bombasticity so as not to lose his customers.

His latest offer is in USD. A million USDs!!! BWAAA!! How much will they be worth three years from now?

Why not make the bet in GOLD, Jim? For a thousand ounces of gold! That's worth a million bucks USD right now.

His big offer is one big escape hatch for him to walk away without paying a dime. BFD!!!

I'm asking you goldbugs, wouldn't a bet in GOLD be much more interesting and popular and profitable, HMMMM??

[link to www.jsmineset.com]

My position on timing 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 will occur within the stated timeframe. 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 you CIGAs to forward this challenge to any vocal bear, suggesting they stop flapping their lips by putting up or shutting up. It is one thing to hide behind a computer screen. It is another to bet the ranch on the view you promote.

The technical procedure of a serious wager is:

1. Prove you can in fact wage the challenge by an attorney's letter.
2. Segregate the funds in cash or near cash kind in the hands of your attorney.
3. Execute an agreed upon binding contract stating the terms of the wager.