UPCOMING GOLD DEFAULT (by Jim Willie) -

[Selene]

Well, Silverman, since you've jovially presumed:

"Now since you [Selene] have not a single physical ounce of precious metals in your pocket I bet the following with you:

1. COMEX WILL DEFAULT UNTIL 31 MARCH 2009
2. CRUDE OIL PRICE WILL TRADE ABOVE USD 100 BEFORE X-MAS 2008
3. GOLD WILL TRADE ABOVE USD 1'000 BEFORE X-MAS 2008

Each time I am wrong you get 1 silver ounce (please click on link to see the picture of the coin)...."

I must say:

a) You are incorrect about my precious metals position(s).
b) I do not - as a matter of practice - ever discuss my own position(s) nor advise others in that regard,
c) My views on Willie's blog ideas do not preclude seeing stronger or weaker metals prices over the next xx months regardless, and
d) I have not presumed any link between oil and gold futures here.

Therefore,

I must regretfully - and in good humor - decline your playful bet , and look forward to your further metals postings.

(And - with apologies - wish you all good and peaceful night. It is past my bedtime! A demain!)

Cheers,
Selene