Not that it vanishes the idiocy of this proposed project, as an intelligence gathering avenue not just a gov’t sponsored casino, but the papers have reported that this was abandoned and the next day it was announced that Poindexter would be resigning because of the credibility issues this latest project created.  Now, if we can only believe what we read in print from the Penatgon…KWC

 

Excerpts from http://www.nytimes.com/2003/08/01/politics/01POIN.html 

WASHINGTON, July 31 — The official who oversaw a plan for the Pentagon to run a terrorist futures-trading market is resigning under pressure, a senior Defense Department official said today.

 

John M. Poindexter, a retired rear admiral who was President Ronald Reagan's national security adviser, is stepping down "within a few weeks," the defense official said, after the disclosure of a proposal that outraged lawmakers and embarrassed senior Pentagon officials. The plan was to create an online trading parlor that would have rewarded investors who forecast terrorist attacks, assassinations and coups.

 

Defense Secretary Donald H. Rumsfeld did not personally fire Admiral Poindexter, but the defense official said that Mr. Rumsfeld agreed that the admiral had become too much of a political lightning rod and that it was time for him to go.

 

2   But Democrats suggested more shenanigans were afoot in the Pentagon that had not been uncovered. 

 

"The problem is more than the fact that Admiral Poindexter was put in charge of these projects," Senator Patrick J. Leahy, Democrat of Vermont, said in a statement. "The problem is that these projects were just fine with the administration until the public found out about them."

 

Senators Dorgan and Wyden said the outrage should fuel momentum to cut off all money to the Terrorism Information Awareness effort. "Even with today's announcement, the proposed T.I.A. program would still be the biggest spying and surveillance overreach in America's history, and it should be shut down," the senators said in a statement

 

Isn’t it bad enough that Reuters reported that the US Defense budget is driving the US economy?[KWC]   The only reason the unemployment numbers are down is because so many people gave up looking, and the best thing going is defense contracting?  This is good economic policy?  Not even Reagan claimed that, and Eisenhower denounced it. 

 

See Defense Spending Driving US Economy @ http://reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=3196574

 

And, for a revisit to a theme discussed before on FW, read George Monbiot’s column “Post 9/11 America is a Religion” @ http://www.alternet.org/story.html?StoryID=16516

Natalia asked:
Do you think it's going to evolve into real currency transactions with only 1000 registrants for Sept. 1?

(October 1st.)  Yes, I think they will get enough public attention for the "prototype" to work.

Surely it's just, er, educational fun. If so, I like it. How do you suppose the house can stay afloat with all the cynics who will be participating?

It's a real-life parody on the Pentagon's project.  I'd bet that the bets at AAM will be mere "shots in the dark", while the correct predictions will
NOT appear in the game, because the real insiders will keep quiet as they make much more money IRL if the outcome stays secret beforehand, and the
non-insiders don't have enough fantasy (or madness) to guess the outrages yet to come.    Same as it was in 9/11.....

Chris

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