Shuck oysters and reserve liquor. Cook bacon, reserve fat, dice bacon. Peel the potato, cut into 1/4-inch cubes, and hold in water. In large saute pan, heat bacon fat; add shallots and saute. Add liqueur and flambe. Add the bacon and the spinach, and saute briefly. Add heavy cream, oyster liquor, potato cubes, white pepper, nutmeg and salt. Bring to a boil and reduce heat to low, simmer for 3 minutes. Adjust seasonings if necessary. Sprinkle with cheddar and serve with oyster crackers.
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