We call it Free Market Fundamentalism or militant economists. REH
----- Original Message ----- From: "Darryl and Natalia" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Monday, July 28, 2003 10:13 PM Subject: [Futurework] Fw: Socio-Political: Betting on Terrorism -- We've Just Entered The Twilight Zone > So, who remembers Poindexter? > The real terrorists are going legitimate--er, well... > And behind the scenes, when there's big money > involved, manipulation of outcome will be rewarding. > I'm sure people running things have done this all along, > and this is a trickle-down effect because they didn't > diversify. > > Shall we wager on whether or not it gets approved? > > Natalia > > ----- Original Message ----- > From: Larry Morningstar <[EMAIL PROTECTED]> > Sent: Monday, July 28, 2003 4:00 PM > Subject: Socio-Political: Betting on Terrorism -- We've Just Entered The > Twilight Zone > > > > >>Socio-Political Report > > > Betting on Terrorism -- We've Just Entered The Twilight Zone > > > > http://abcnews.go.com/wire/Politics/ap20030728_1660.html > > > > Senators Say Pentagon Plan Would Allow Betting on Terrorism, > > Assassinations. > > > > July 28th, 2003 > > By KEN GUGGENHEIM > > Associated Press Writer, Washington > > > > The Pentagon is setting up a commodity-market style trading system in > > which investors would be able to bet on political and economic events in > > the Middle East including the likelihood of assassinations and terrorist > > attacks. > > > > Two Democratic senators said Monday they want the project stopped before > > investors begin registering this week. > > > > > > > > The Pentagon office overseeing the program said it was part of a research > > effort "to investigate the broadest possible set of new ways to prevent > > terrorist attacks." It said there would be a re-evaluation before more > > money was committed. > > > > The Policy Analysis Market is intended to help the Pentagon predict > > events in the region based on investors' information or analyses. > > > > A graphic on the market's Web page showed hypothetical futures contracts > > in which investors could trade on the likelihood that Palestinian leader > > Yasser Arafat would be assassinated or Jordanian King Abdullah II would > > be overthrown. > > > > Although the Web site described the Policy Analysis Market as "a market > > in the future of the Middle East," the graphic also included the > > possibility of a North Korea missile attack. > > > > That graphic was apparently removed from the Web site hours after the > > news conference by Sens. Ron Wyden of Oregon and Byron Dorgan of North > > Dakota criticizing the market. > > > > "The idea of a federal betting parlor on atrocities and terrorism is > > ridiculous and it's grotesque," Wyden said. > > > > Dorgan described it as useless, offensive and "unbelievably stupid." > > > > "Can you imagine if another country set up a betting parlor so that > > people could go in ... and bet on the assassination of an American > > political figure, or the overthrow of this institution or that > > institution?" he said. > > > > According to its Web site, the Policy Analysis Market would be a joint > > program of the Pentagon's Defense Advanced Research Projects Agency, > > known as DARPA, and two private companies: Net Exchange, a market > > technologies company, and the Economist Intelligence Unit, the business > > information arm of the publisher of The Economist magazine. > > > > DARPA has received strong criticism from Congress for its Terrorism > > Information Awareness program, a computerized surveillance program that > > has raised privacy concerns. Wyden said the Policy Analysis Market is > > under retired Adm. John Poindexter, the head of the Terrorism Information > > Awareness program and, in the 1980s, a key figure in the Iran-Contra > > scandal. > > > > In its statement Monday, DARPA said that markets offer efficient, > > effective and timely methods for collecting "dispersed and even hidden > > information. Futures markets have proven themselves to be good at > > predicting such things as elections results; they are often better than > > expert opinions." > > > > The description of the market on its Web site makes it appear similar to > > a computer-based commodities market. Contracts would be available based > > on economic health, civil stability, military disposition and U.S. > > economic and military involvement in Egypt, Iran, Iraq, Israel, Jordan, > > Saudi Arabia, Syria and Turkey. > > > > Contracts would also be available on "global economic and conflict > > indicators" and specific events, for example U.S. recognition of a > > Palestinian state. > > > > Traders who believe an event will occur can buy a futures contract. Those > > who believe the event is unlikely can try to sell a contract. The Web > > site does not address how much money investors would be likely to put > > into the market but says analysts would be motivated by the "prospect of > > profit and at pain of loss" to make accurate predictions. > > > > Registration would begin Friday with trading beginning Oct. 1. The market > > would initially be limited to 1,000 traders, increasing to at least > > 10,000 by Jan. 1. > > > > The Web site says government agencies will not be allowed to participate > > and will not have access to the identities or funds of traders. > > > > The market is a project of a DARPA division called FutureMAP, or "Futures > > Markets Applied to Prediction." FutureMAP is trying to develop programs > > that would allow the Defense Department to use market forces to predict > > future events, according to its Web site. > > > > "The rapid reaction of markets to knowledge held by only a few > > participants may provide an early warning system to avoid surprise," it > > said. > > > > It said the markets must offer "compensation that is ethically and > > legally satisfactory to all sectors involved, while remaining attractive > > enough to ensure full and continuous participation of individual parties." > > > > Dorgan and Wyden released a letter to Poindexter calling for an immediate > > end to the program. They noted a May 20 report to lawmakers that cited > > the possibility of using market forces to predict whether terrorists > > would attack Israel with biological weapons. > > > > "Surely such a threat should be met with intelligence gathering of the > > highest quality not by putting the question to individuals betting on an > > Internet Web site," they said. > > > > Wyden said $600,000 has been spent on the program so far and the Pentagon > > plans to spend an additional $149,000 this year. The Pentagon has > > requested $3 million for the program for next year and $5 million for the > > following year. > > > > Wyden said the Senate version of next year's defense spending bill would > > cut off money for the program, but the House version would fund it. The > > two versions will have to be reconciled. > > > > ___ > > > > On the Net: > > > > Policy Analysis Market: > > http://www.policyanalysismarket.org > > > > DARPA's Future Map > > http://www.darpa.mil/iao/FutureMap.htm > > > > Copyright 2003 Associated Press > > > > ***** > > Courtesy of Richard Diamond > > > > Larry Morningstar > > Socio-Political Report > > [EMAIL PROTECTED] > > http://www.freeyourself.net/Prosperity4U > > http://www.gmtiassociate.com/larrymorningstar.htm > > > > > > Welcome! > > > > You have been subscribed to the > > > > > > *:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:* > > > > *:-.,_,.-:*'`` Socio-Political Report ``'*:-.,_,.-:* > > > > *:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:* > > > > > > News and Stories related to social and political issues. > > Not your run of the mill stuff. > > Low Volume: usually once a week or less. > > > > To subscribe to this list: > > just send a message with the words: > > "subscribe: Socio-Political eMail List" > > to: [EMAIL PROTECTED] > > To unsubscribe to this list: > > just send a message with the words: > > "unsubscribe: Socio-Political eMail List" > > to: [EMAIL PROTECTED] > > > > And remember... > > > > > > *:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:* > > > > "Whenever you find yourself on the side of the majority, > > it's time to pause and reflect." > > > > Mark Twain > > > > *:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:*'``'*:-.,_,.-:* > > > > > _______________________________________________ > Futurework mailing list > [EMAIL PROTECTED] > http://scribe.uwaterloo.ca/mailman/listinfo/futurework _______________________________________________ Futurework mailing list [EMAIL PROTECTED] http://scribe.uwaterloo.ca/mailman/listinfo/futurework
