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Doug Casey on Social Media: “Facebook enshrines stupidity”

“Just as Myspace was displaced by Facebook, I predict Facebook 2.0 will come along and replace Facebook.”

The Duran

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Authored by Joel Bowman via InternationalMan.com:


Joel Bowman: G’day, Doug. Thanks for speaking with us today.

Doug Casey: No problem, Joel. It’s a pleasure to hear your Australian accent come across the ether from Mexico.

Joel: Let’s dive right in. A week or two ago, Facebook registered the largest single day loss for any one company in stock market history – roughly $122 billion. CEO Mark Zuckerberg lost around $15 billion himself, as much as the annual GDP of several resource-rich, West African nations.

Looking back to 2000, during the go-go days of the dot.com boom, Intel and Microsoft both registered staggering single-day losses, too… $90 billion and $80 billion, respectively. And we know what happened next in that case…

So, investors want to know… is past prologue? What’s next for Silicon Valley’s tech darlings?

Doug: Talking about losing multiple billions in a single day, it’s really a sign of the times. I remember when the only billionaires in the world were Howard Hughes, John Paul Getty and John Beresford Tipton– the mythical billionaire on a 1950’s-era show called “The Millionaire.”

These days, however, it seems everyone’s a billionaire. In fact, there are several thousand billionaires roaming the planet today, with new ones being minted almost every day.

Of course, much of this so-called wealth is just paper. It’s not real. In fact, it’s pretty clear to me that we’re in a stock market bubble. Which is being driven by the bond market hyper-bubble. And that, in turn, is fueling a real estate bubble, which I believe is just now beginning to deflate in major cities around the world.

None of this augurs well for the stock market. You’ve got bubbles all over the place. Except in the resource market. That’s the one place that hasn’t inflated. In fact, it’s been going down since it’s last peak in 2011.

Getting back to Facebook, I hope it goes bankrupt. I hate it as an institution. I hate what it does. I don’t like its policies. I don’t like its management. I don’t like the fact that it’s causing people to destroy whatever privacy they have left. While turning their brains to mush sending out selfies all day.

Joel: You’ve put a lot on the table there, Doug. Let’s unpack a bit of that, starting with the general tendency toward cerebral rot…

Many younger readers may not remember this, but there actually existed a time before everybody knew everything, when people had to read books and discuss them, engage in healthy debate and rigorous dialectic in order to learn and develop intellectually.

Now that everyone apparently has plenty of time to Instagram their kale salads and “like” one and other’s cat pictures, are we to assume mankind has finally reached the End of Learning…some new Age of Enlightenment?

Or might Facebook and its (anti)social media cousins represent – in addition to the potential fallout for investors – another, hidden cost to society?

Doug: Perhaps humanity is bifurcating into the Morlocks and the Eloi at this point. It’s true that people used to go to libraries. But even the Library of Congress has only a tiny fraction the world’s data available; libraries are quaint and delightful, but they’re dinosaurs.

All the knowledge in the world is now at our fingertips on the Internet. The Internet is one of the greatest inventions in history, on a par with moveable type and the Gutenburg printing press. A few people are using it to educate and better themselves—but relatively few.

Most people just use it for trivial amusement, as you mentioned. Facebook adds very little value to the equation. In fact, I can’t see that it does much that’s productive. It’s basically a vehicle for gossip and watching cat videos.

Joel: And it’s less than that. Aside from the general degradation of public discourse, social media also represents a kind of unalterable historical record of bad jokes and regrettable moments, accessible to anyone who may wish to besmirch one’s character or skittle one’s reputation.

We’ve all said things we wish we hadn’t. To err is to be human, after all. What do you make of a world in which everyone’s worst moments are readily available to everyone else – including potential enemies – at the click of a mouse?

Doug: Facebook enshrines stupidity. A heavy Facebook user is, in effect, saying: “Look at me! I’m a thoughtless person who doesn’t have anything better to do with his time”. That’s on top of the fact that users are exposing their thoughts, actions, and whereabouts to the NSA, the FBI, the CIA and any of a hundred other nefarious agencies. In fact, there are credible allegations that Facebook, along with Google and Amazon, are willing tools of these intelligence agencies. No good can come of being a Facebookista.

But that’s about whether you should use Facebook. Whether you should own Facebook stock is a different question. Even after the recent selloff, Facebook still has a market cap of about $500 billion, which impresses me as a lot for a chat site cum advertising vehicle. Especially one where most of its growth is behind it. A lot of users are getting hip to the fact they’re not customers, they’re the product.

Facebook was a clever innovation ten years ago. But you know, there’s an old saying in the stock market: High Tech, Big Wreck!

Just as Myspace was displaced by Facebook, I predict Facebook 2.0 will come along and replace Facebook. My understanding is that kids now see Facebook as something used by old people– people over 21 years of age. So if it’s going nowhere with the younger generation, where’s it’s future? Maybe it picks up a billion new users in the Third World. Ultimately, what’s that worth?

Facebook may not be a terminal short sale, but I certainly won’t be putting any of my own money into the stock.

Joel: Assuming you’re correct and Facebook 2.0 does displace the current market leader, are you hopeful that such a platform may serve to promote a heightened level of discourse? Perhaps people might find their way into “phyles,” that is, subgroups based on commonly shared values that actually have real world meaning?

Doug: I hope that, in a year or two, International Man itself grows into a community of likeminded people with above average I.Q.s, libertarian values, and real world experience. IM might, itself, even branch off to become its own kind of Facebook. A private version.

I know there’s a lot of talk about regulating FB, or breaking it up. That’s a bad idea; the government should have zero to do with business in general—and areas related to free speech in particular. I’m disgusted by the fact FB has kicked Alex Jones and others off their platform. But they have a right to do so, as a private company. Although, on the other hand, they’re almost a creature of the State.

But that’s not an excuse for the government to “step in”. What will happen is that a newer, better Facebook lookalike—or a dozen of them—will replace them. FB will self-destruct. It’s a non-problem.

To be frank, you and I don’t really have that much in common with most of the 7.3 billion people on this planet. In fact, while I like many individual humans, I despise humanity in general. The more people you put together in a group, the more they act like chimpanzees. Big groups force down the lowest common denominator.

There’s some cause for optimism, but only on a person-to-person basis. I prefer the company of people who value free minds and free markets—and I suspect most people who are reading this now feel the same way.

Joel: That’s probably a very good note to end this conversation on, Doug. Thanks, as always, for taking the time.

Doug: Meanwhile, we’ll look for something with the potential of Facebook in 2008… and stay away from Facebook today.

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franz kafkaRick OliverJohn R. NolanVera Gottlieb Recent comment authors
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franz kafka
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franz kafka

When FaceBook first appeared I had to choose between joining, or putting my filing cabinet, with all my valuable records, tax returns, and memorabilia, out on the sidewalk for chance passers-by to do with as they willed.

I chose neither.

Rick Oliver
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Rick Oliver

Yep , I ditched FB about three months ago , because I`m very sure I was being monitored by either our local Secret Service or the FBI or even the CIA , because they are here in my country ( NZ ) manipulating and so – called teaching our Secret Service on how to spy on everybody , our prime minister of the time even admitted the network was spying on our own people and court cases regarding the Govt and the spy network have admitted it as well !!! Any was , as I was being watched , (… Read more »

Rick Oliver
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Rick Oliver

Part 2 ; Forgot to mention in my last vlog that getting rid of FB is not enough if you are on any sort of ” watch ” , they follow you through Google Gmail and You Tube as well , so really , you have to give up the whole lot and be very careful of what you purchase with your credit cards etc.

John R. Nolan
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John R. Nolan

‘Farce Book’ was an incredibly cunning means for the C.I.A., F.B.I. A.S.I.O., etc., to collect incredible amounts of personal data, on all those who have been roped into it’s evil clutches. Sadly, those who use it are only displaying how lonely, insecure, emotionally handicapped they are, for all the world to see, (if they want,) most don’t. The cognitive world recognize how many citizens, trapped in these types of ‘socialist’ therapy programs, are people to be pitied, citizens who are desperately lonely, emotionally handicapped, trapped at their keyboard, in search of some form of social recognition, according to how many… Read more »

Vera Gottlieb
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Vera Gottlieb

With more and more faces literally glued to a small screen, how much longer before these people won’t be able to recognize another human being? I distrusted FB from day one…and all the others too.

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Is this man the puppet master of Ukraine’s new president or an overhyped bogeyman?

Smiling to himself, Kolomoisky would be within his rights to think that he has never had it so good.

RT

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Via RT…


It doesn’t actually matter if Ukrainian-Israeli billionaire Igor Kolomoisky is the real power behind Volodymyr Zelensky – the president elect has to get rid of the oligarch if he is to make a break with the country’s corrupt past.

The plots, deceits and conflicts of interest in Ukrainian politics are so transparent and hyperbolic, that to say that novice politician Zelensky was a protégé of his long-time employer was not something that required months of local investigative journalism – it was just out there.

Zelensky’s comedy troupe has been on Kolomoisky’s top-rated channel for the past eight years, and his media asset spent every possible resource promoting the contender against incumbent Petro Poroshenko, a personal enemy of the tycoon, who hasn’t even risked entering Ukraine in the past months.

Similarly, the millions and the nous needed to run a presidential campaign in a country of nearly 50 million people had to come from somewhere, and Kolomoisky’s lieutenants were said to be in all key posts. The two issued half-hearted denials that one was a frontman for the other, insisting that they were business partners with a cordial working relationship, but voters had to take their word for it.

Now that the supposed scheme has paid off with Zelensky’s spectacular victory in Sunday’s run-off, Ukrainian voters are asking: what does Kolomoisky want now, and will he be allowed to run the show?

‘One-of-a-kind chancer’

Born in 1963, in a family of two Jewish engineers, Kolomoisky is the type of businessman that was once the staple of the post-Soviet public sphere, but represents a dying breed.

That is, he is not an entrepreneur in the established Western sense at all – he did not go from a Soviet bloc apartment to Lake Geneva villas by inventing a new product, or even setting up an efficient business structure in an existing field.

Rather he is an opportunist who got wealthy by skilfully reading trends as the Soviet economy opened up – selling Western-made computers in the late 1980s – and later when independent Ukraine transitioned to a market economy and Kolomoisky managed to get his hands on a large amount of privatisation vouchers that put many of the juiciest local metals and energy concerns into his hands, which he then modernised.

What he possesses is a chutzpah and unscrupulousness that is rare even among his peers. Vladimir Putin once called him a “one-of-a-kind chancer” who managed to “swindle [Chelsea owner] Roman Abramovich himself.” In the perma-chaos of Ukrainian law and politics, where all moves are always on the table, his tactical acumen has got him ahead.

Kolomoisky’s lifeblood is connections and power rather than any pure profit on the balance sheet, though no one actually knows how that would read, as the Privat Group he part-owns is reported to own over 100 businesses in dozens of Ukrainian spheres through a complex network of offshore companies and obscure intermediaries (“There is no Privat Group, it is a media confection,” the oligarch himself says, straight-faced.)

Unsurprisingly, he has been dabbling in politics for decades, particularly following the first Orange Revolution in 2004. Though the vehicles for his support have not been noted for a particular ideological consistency – in reportedly backing Viktor Yushchenko, then Yulia Tymoshenko, he was merely putting his millions on what he thought would be a winning horse.

Grasp exceeds reach

But at some point in the post-Maidan euphoria, Kolomoisky’s narcissism got the better of him, and he accepted a post as the governor of his home region of Dnepropetrovsk, in 2014.

The qualities that might have made him a tolerable rogue on TV, began to grate in a more official role. From his penchant for using the political arena to settle his business disputes, to creating his own paramilitary force by sponsoring anti-Russian battalions out of his own pocket, to his somewhat charmless habit of grilling and threatening to put in prison those less powerful than him in fits of pique (“You wait for me out here like a wife for a cheating husband,” begins a viral expletive-strewn rant against an overwhelmed Radio Free Europe reporter).

There is a temptation here for a comparison with a Donald Trump given a developing country to play with, but for all of the shenanigans, his ideological views have always been relatively straightforward. Despite his Russia-loathing patriotism, not even his fans know what Kolomoisky stands for.

The oligarch fell out with fellow billionaire Poroshenko in early 2015, following a battle over the control of a large oil transport company between the state and the governor. The following year, his Privat Bank, which at one point handled one in four financial transactions in the country was nationalized, though the government said that Kolomoisky had turned it into a mere shell by giving $5 billion of its savings to Privat Group companies.

Other significant assets were seized, the government took to London to launch a case against his international companies, and though never banished, Kolomoisky himself decided it would be safer if he spent as long as necessary jetting between his adopted homes in Switzerland and Tel Aviv, with the occasional trip to London for the foreseeable future.

But the adventurer falls – and rises again. The London case has been dropped due to lack of jurisdiction, and only last week a ruling came shockingly overturning the three-year-old nationalization of Privat Bank.

Smiling to himself, Kolomoisky would be within his rights to think that he has never had it so good.

Own man

Zelensky must disabuse him of that notion.

It doesn’t matter that they are friends. Or what handshake agreements they made beforehand. Or that he travelled to Geneva and Tel-Aviv 13 times in the past two years. Or what kompromat Kolomoisky may or may not have on him. It doesn’t matter that his head of security is the man who, for years, guarded the oligarch, and that he may quite genuinely fear for his own safety (it’s not like nothing bad has ever happened to Ukrainian presidents).

Volodymyr Zelensky is now the leader of a large country, with the backing of 13.5 million voters. It is to them that he promised a break with past bribery, graft and cronyism. Even by tolerating one man – and one who makes Poroshenko look wholesome – next to him, he discredits all of that. He will have the support of the people if he pits himself against the puppet master – no one would have elected Kolomoisky in his stead.

Whether the oligarch is told to stay away, whether Ukraine enables the financial fraud investigation into him that has been opened by the FBI, or if he is just treated to the letter of the law, all will be good enough. This is the first and main test, and millions who were prepared to accept the legal fiction of the independent candidate two months ago, will now want to see reality to match. Zelensky’s TV president protagonist in Servant of the People – also broadcast by Kolomoisky’s channel, obviously, would never have compromised like that.

What hinges on this is not just the fate of Zelensky’s presidency, but the chance for Ukraine to restore battered faith in its democracy shaken by a succession of compromised failures at the helm.

Igor Ogorodnev

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Roger Waters – The People’s Champion for Freedom

In February 2019, Waters showed his support for the Venezuelan Maduro government and continues to be totally against US regime change plans there.

Richard Galustian

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Submitted by Richard Galustian 

Roger Waters is one of Britain’s most successful and talented musicians and composers but more importantly is an outstanding champion for freedom in the world, beyond compare to any other artist turned political activist.

By way of background, he co-founded the rock band Pink Floyd in 1965.

A landmark turning point of his political activism occurred in 1990, when Waters staged probably the largest rock concert in history, ‘The Wall – Live in Berlin’, with an attendance of nearly half a million people.

In more recent years Waters famously narrated the 2016 documentary ‘The Occupation of the American Mind: Israel’s Public Relations War in the United States’ about the insidious influence of Zionist Israel to shape American public opinion.

Waters has been an outspoken critic of America’s Neocons and particularly Donald Trump and his policies.

In 2017, Waters condemned Trump’s plan to build a wall separating the United States and Mexico, saying that his band’s iconic famous song, ‘The Wall’ is as he put it “very relevant now with Mr. Trump and all of this talk of building walls and creating as much enmity as possible between races and religions.”

In February 2019, Waters showed his support for the Venezuelan Maduro government and continues to be totally against US regime change plans there, or any place else for that matter.

Here below is a must see recent Roger Waters interview, via satellite from New York, where he speaks brilliantly, succinctly and honestly, unlike no other celebrity, about FREEDOM and the related issues of the day.

The only other artist turned activist, but purely for human rights reasons, as she is apolitical, is the incredible Carla Ortiz.

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ISIS Says Behind Sri Lanka Bombings; Was ‘Retaliation’ For New Zealand Mosque Massacre

ISIS’s claim couldn’t be confirmed and the group has been  known to make “opportunistic” claims in the past, according to WaPo. 

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Via Zerohedge…


Shortly after the death toll from Sunday’s Easter bombings in Sri Lanka climbed above the 300 mark, ISIS validated the Sri Lankan government’s suspicions that a domestic jihadi organization had help from an international terror network while planning the bombings were validated when ISIS took credit for the attacks.

The claim was made via a report from ISIS’s Amaq news agency. Though the group has lost almost all of the territory that was once part of its transnational caliphate, ISIS now boasts cells across the Muslim world, including in North Africa and elsewhere. Before ISIS took credit for the attack, a Sri Lankan official revealed that Sunday’s attacks were intended as retaliation for the killing of 50 Muslims during last month’s mass shooting in Christchurch, New Zealand.

However, the Sri Lankan government didn’t offer any evidence for that claim, or the claim that Sunday’s attacks were planned by two Islamic groups (though that now appears to have been substantiated by ISIS’s claim of responsibility). The group is believed to have worked with the National Tawheed Jamaath, according to the NYT.

“The preliminary investigations have revealed that what happened in Sri Lanka was in retaliation for the attack against Muslims in Christchurch,” State Minister of Defense Ruwan Wijewardene told the Parliament.

Meanwhile, the number of suspects arrested in connection with the attacks had increased to 40 from 24 as of Tuesday. The government had declared a national emergency that allowed it sweeping powers to interrogate and detain suspects.

On Monday, the FBI pledged to send agents to Sri Lanka and provide laboratory support for the investigation.

As the death toll in Sri Lanka climbs, the attack is cementing its position as the deadliest terror attack in the region.

  • 321 (as of now): Sri Lanka bombings, 2019
  • 257 Mumbai attacks, 1993
  • 189 Mumbai train blasts, 2006 166 Mumbai attacks, 2008
  • 151 APS/Peshawar school attack, 2014
  • 149 Mastung/Balochistan election rally attack, 2018

Meanwhile, funeral services for some of the bombing victims began on Tuesday.

Even before ISIS took credit for the attack, analysts told the Washington Post that its unprecedented violence suggested that a well-financed international organization was likely involved.

The bombings on Sunday, however, came with little precedent. Sri Lanka may have endured a ghastly civil war and suicide bombings in the past – some credit the Tamil Tigers with pioneering the tactic – but nothing of this scale. Analysts were stunned by the apparent level of coordination behind the strikes, which occurred around the same time on both sides of the country, and suggested the attacks carried the hallmarks of a more international plot.

“Sri Lanka has never seen this sort of attack – coordinated, multiple, high-casualty – ever before, even with the Tamil Tigers during the course of a brutal civil war,” Alan Keenan, a Sri Lanka expert at the International Crisis Group, told the Financial Times. “I’m not really convinced this is a Sri Lankan thing. I think the dynamics are global, not driven by some indigenous debate. It seems to me to be a different kind of ballgame.”

Hinting at possible ISIS involvement, US Secretary of State Mike Pompeo said during a Monday press conference that “radical Islamic terror” remained a threat even after ISIS’s defeats in Syria.

Of course, ISIS’s claim couldn’t be confirmed and the group has been  known to make “opportunistic” claims in the past, according to WaPo. The extremist group said the attacks were targeting Christians and “coalition countries” and were carried out by fighters from its organization.

Speculation that the government had advanced warning of the attacks, but failed to act amid a power struggle between the country’s president and prime minister, unnerved citizens and contributed to a brewing backlash. Following the bombings, schools and mass had been canceled until at least Monday, with masses called off “until further notice.”

 

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