July 29, 2003
Pentagon Terror Trading Market Draws Criticism!Sometimes Congress can surprise even Normal, Level Headed Americans (Most Of Us).
"The idea of a federal betting parlor on atrocities and terrorism is ridiculous and it's grotesque," Sen. Ron Wyden,D-Ore., said Monday.
Traders would buy and sell futures contracts-just like energy traders do now in betting on the future price of oil.
Holders of a futures contract that came true would collect the proceeds of traders who put money into the market but predicted wrong.
Quite normal economics, except for the fact the traders are betting on Terrorist Attacts and Assassinations among other items that one could bet on.
Save up your money now, since trading is to begin October 1st.
The market would initially be limited to 1,000 traders, increasing to at least 10,000 traders.
Already the Pentagon has spent $600,000 on the "Exchange" and has requested $3 Million for next year and $5 Million for the following year.
Pentagon Criticism.
What's Bill Bennett's take on this, by the way?
See DARPA's complete details below.
Regards,
Charlie