Wow, this has some serious implications. I am sorry I missed it when it occurred.
http://www.foxbusiness.com/on-air/stossel/blog/2012/11/26/government-crushes-innovative-online-prediction-marketIn a nutshell, gov't is using its power to regulate financial trading to shut down Intrade. The apparatchik said, "You are trading futures without a license. Stop or we will fine you $140k/event." Intrade said, "OK, we would like to apply for a license." Apparatchik said, "No license for you."
I have to agree with OV on this one:
The only way totalitarian governments can exist in the long run is by suppressing accurate information. Today, US government forced Intrade.com to close, removing one of the most accurate prediction devices recently developed. This is one of many recent steps designed to make us into the New World equivalent of the USSR.
The thing is, when gov't really, truly wants to find something or predict something, they have done exactly what Intrade did: set up a market/bettor system. They gave SMEs cash money and asked them to bet their money on the issue. We found at least one lost nuke sub this way.
The bottom line is, gov't does not want a competitor in the information market and is willing to murder those that threaten to provide a better, less-adulterated product.
Didn't someone used to end their posts with, "But we don't live in a police state?"
