Next up is a Bill called the "Anti-Counterfeiting Trade Agreement", which among other things, legalizes and forces Internet Service Providers to monitor it's users, and to remove internet access, without due process, when the ISP deems it believes you are not following the law.
Think about this, suppose the phone company was forced years ago to listen in on all phone calls, and remove phone service if the topics you discussed where deemed illegal?
Without due process?
Citizens would revolt. But unfortunately, the aging baby boomers, don't get Tech, and will probably write it off as a necessary evil. Since the majority won't care, the minority that does will suffer for decade(s).
This isn't a financial event directly, but indirectly this slippery slope could cut off critical information flow. I could see a day that "private corporate documents" from wikileaks is deemed as a copyright infringement for example.
Already the number of corporations that control the majority of information companies in the US went from 50 to 5, controlling information flow. (see graph below)
This bill should not pass, due to the illegality of circumventing due process, and privacy. But my guess is in a few years, this will be reality. And less information flow puts the individual (small investor) at a greater disadvantage larger organizations (companies).
Once again, thanks to blog reader Ryan Swan for the video link.
|From WebSufinMurfs FinancialBlog2|