"put your money where your mouth is"

Grandich renews offer of million-dollar bet on gold's reaching $2,000 before $1,000

... Market analyst and mining company adviser Peter Grandich today renewed his offer of a $1 million wager that gold will see $2,000 before it sees $1,000. There have been no takers so far. Grandich's commentary is headlined "Put Your Money Where Your Mouth Is" and it's posted at his Internet site here:

http://www.grandich.com/2012/05/put-your-money-where-your-mouth-is/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

The above was at http://gata.org/node/11372

"I hereby challenge again the first gold bear to accept my $1 million dollar bet that gold will hit $2,000 without first hitting $1,000. I’ve once again asked the law firm of Lomurro, Davison, Eastman and Munoz of Freehold, NJ to stand ready to hold the funds in trust and shall keep this offer open until this Friday, May 18th at 5PM. And, if the world’s worst gold forecaster can actually grow some you know whats, I’ll make it $2 million with him (and his company can put up the $2 million, as I suspect based on his decade long poor performance he doesn’t have any real monies himself).

I’ve stated that most in the financial industry and the financial media hate gold. They are entitled to that and I have no problem with it. But, I do take great exception when some of the worst forecasters who have been constantly wrong for years and are little more than “broken clock” forecasters go unchallenged in their consistent calls for gold’s demise.

The mother of all gold bull markets shall continue in my opinion because:

• The former two largest negatives have been net positives for quite some time now and there’s nothing on the horizon to suggest this is about to change. Central bank selling and producers hedging are things of the past and not recognizing this has caused so many to miss one of the greatest investments in the last decade.

Central banks are not only printing more and more reasons to own gold but are buyers of large quantities of gold themselves. The bad news on this is you go to jail if you use printing presses to manufacturer money as they do. The good news is you can be like a central banker by imitating their asset purchases by buying gold."

The full read is at http://www.grandich.com/2012/05/put-your-money-where-your-mouth-is/