Just When I Thought There Was Hope
Jul. 29th, 2003 11:42 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
cassy_gThere are times that even I, as jaded as I am, can be astonished at the level of inhumanity and atrocity our society can obtain.
Beginning on Friday, August 1, investors will be able to sign up as futures traders in what is being called the Policy Analysis Market. This market will allow traders to buy and sell futures based off things that might happen in the future in terms of economics, civil and military affairs or specific events, such as terrorist attacks, or assassinations. It claims that it will only be interested in the Middle East's affairs, though a graphic that has since been pulled from their site (listed below) included North Korea.
For those of you that do not understand how futures markets work, the simplest explaination is that you set a contract on something that might happen, securing it with money. If it does, then you would "win" and collect proceeds from those who had predicted incorrectly.
Trading begins on October 1, with an initial number of 1,000 traders that will be increased to 10,000 traders by January 1, 2004.
But wait, there's more. This project is being funded by the Pentagon through a division called the Defense Advanced Research Projects Agency, or DARPA. To date, they have spent $600,000 on this project, with approximately $175,000 more anticipated to be spent this year. Next year, they have requseted $3 million, and $5 million the following year.
Ten million dollars. Ten. Million. Dollars.
Somehow, I always thought it would cost more than that to sell our souls.
Beginning on Friday, August 1, investors will be able to sign up as futures traders in what is being called the Policy Analysis Market. This market will allow traders to buy and sell futures based off things that might happen in the future in terms of economics, civil and military affairs or specific events, such as terrorist attacks, or assassinations. It claims that it will only be interested in the Middle East's affairs, though a graphic that has since been pulled from their site (listed below) included North Korea.
For those of you that do not understand how futures markets work, the simplest explaination is that you set a contract on something that might happen, securing it with money. If it does, then you would "win" and collect proceeds from those who had predicted incorrectly.
Trading begins on October 1, with an initial number of 1,000 traders that will be increased to 10,000 traders by January 1, 2004.
But wait, there's more. This project is being funded by the Pentagon through a division called the Defense Advanced Research Projects Agency, or DARPA. To date, they have spent $600,000 on this project, with approximately $175,000 more anticipated to be spent this year. Next year, they have requseted $3 million, and $5 million the following year.
Ten million dollars. Ten. Million. Dollars.
Somehow, I always thought it would cost more than that to sell our souls.
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Policy Analysis Market
Policy Analysis Market
