Wager Welt or All Fools' Welt
From the Stitch Description: This type of knitting owes its fame to an amusing little sidelight in the history of knitting. The “wager” was concerned with the question, out of eight pattern rows, how many rows are purled? From the appearance of the pattern it is very hard to guess, and so the French called it Puzzle Stitch and the Germans called it Dispute Stitch; but the English, who seemed to believe that only a fool could be stumped by the problem, called it All Fools’ Welt. The answer, of course, is “one.”
Location of Stitch: From page 16 of A Treasury of Knitting Patterns.