The Big Four tech giants control most of the world’s information flow, drug and food supply. Google and Facebook tried to manipulate the recent presidential election by prioritising, and sometimes burying content altogether. Throughout the history of human civilisation, including periods of ecclesiastical rule, no entity has had as much power to influence and control the social and political ideals of billions of people with zero oversight or regulation as these tech giants. Democracy’s only hope is for Google, Amazon, Facebook and Twitter to be broken up and regulated.
In 1949, George Orwell wrote the book 1984 in which he accurately predicted the future with Francis Bacon’s phrase “knowledge is power.” This is true today more than ever.
Facebook, Google, Amazon, and Twitter actively control information flow through their oligopoly of all readily available content on the internet. Amazon has even moved beyond the internet, not that it needed to because print is dead, and now owns The Washington Post. Additionally, Amazon seeks to control our drug and food supply. This unregulated oligopoly, which was initially narrowly focused on frivolous social media and consumer products, has grown rapidly and amassed the ability to decide what is “fake news” and what isn’t. And Facebook and Google have both been caught using algorithms to make those decisions via the manipulation of search results.
The old fogies in Congress do not understand the power of the internet or how successful the proprietary algorithms utilised by Facebook, Google and Twitter can be at manipulating public opinion while suffocating opposing views. The situation is a million times worse than the situation depicted by Orwell. For example, US Congressman Marsha Blackburn’s US Senate campaign advertisements were blocked on social media because the candidate is pro-life.
Power is controlling knowledge
Google and Facebook’s internet supremacy has far reaching implications; arguably, they endeavoured to manipulate the recent presidential election by prioritising, and sometimes altogether burying, content. Google’s Executive Chairman, Eric Schmidt was even on Hillary Clinton’s election committee. Facebook goes a step further than Google in individually curating content, segregating its users into political bubbles so the users only see their own ideals reinforced. The polarisation of political views means that users are likely to adhere to an entire set of campaign positions rather than consider that some positions on each side might be credible.
This drip-feed of the “narrative” breeds groupthink among its users (i.e. everybody with internet) who then regurgitate that narrative to the extreme, ostracising all who dare to disagree. (Who else lost friends as a result of the 2016 elections?) Burying content is burying content – whether it’s in a newsfeed or in search results, it means that only one set of political viewpoints are being presented by “credible” sources and the other set is buried or presented solely by authors wearing tinfoil hats. The biased presentation certainly affects people’s perception. However, the public was aided by subreddits such as r/The_Donald and r/HillaryForPrison, in spite of Reddit’s attempts to quiet its users, and saw how search results were manipulated by Google during the 2016 presidential elections. I’m sure that by the 2020 elections, Google and Facebook will have sufficiently honed their algorithms to manipulate content that will deliver the candidate of their choosing.
Throughout the history of human civilisation, including periods of ecclesiastical rule, no entity has had as much power to influence and control the social and political ideals of billions of people with zero oversight or regulation as these tech giants.
This is extremely dangerous and can end very badly.
These companies pose a danger to democratic society’s liberty and the West’s entire way of life.
Google and Facebook will never release or disclose how they are tweaking their algorithms to impact social movements or influence and suppress democratic process and liberty. The tech oligopoly swallows up any and all potential challengers, eliminating competition in a manner that the Sherman Antitrust Act was drafted to prevent. Will anybody, government or otherwise, try to enforce those provisions and promote the free market? It appears unlikely, as the tech oligopoly has already grown out of control.
This is David vs. an army of Goliaths.
Death of anti-trust
Microsoft, at the time of its break up by DOJ prosecutors, was smaller and far less influential than Facebook, Google, and Amazon are today. Ironically, Google supported the breakup of Microsoft because of Microsoft’s monopolistic practices around operating systems that were hostile towards competitor software. Google and Facebook currently do the same thing with their search engine and news feed respectively, but it’s about a thousand times worse—Microsoft controlled the market for software, Google and Facebook control the market for information. While the Federal Trade Commission has been charged with the responsibility of promoting consumer protection and preventing coercive monopolies, no regulatory agency has been provided the necessary firepower to effectively regulate or oversee the algorithms that control and censor Google’s search engine or Facebook’s content. Perhaps hell has frozen over, but this might be one situation where a grant of greater authority and resources to government regulators to review algorithmic trade secrets might actually benefit the general public.
Don’t count on our politicians to enforce the existing antitrust laws because these internet behemoths are too big, too connected, and contribute too much to the congressional coffers to have laws apply to them. Google and Facebook are two of the biggest companies in the world, and their lobbying dollars control the corrupt political system in Washington, DC’s swamp.
Recent disclosure forms show that Google spent $5.93 million between April 1 and June 30, 2017, more than any other corporation in Q2 2017. After wasting tens of millions (perhaps hundreds) on the Clintons, all of these Silicon Valley players need to buy new influence in Washington to prevent an antitrust action. Google will be this year’s top corporate lobbying spender in the US. Amazon’s spend is not far behind, and Facebook’s spending is right up there as well.
Washington’s pay-to-play government defines some monopolies as good and some monopolies as bad—and it has chosen to define these monopolies as good.
Unfortunately, the Supreme Court won’t be much help either. Without a David to bring the Goliaths to task, the Supreme Court cannot opine on the legality and the frightening consequences of allowing the algorithms of these internet companies to manipulate and control our lives, behaviour, and social values. When will our courts be able to act? As usual, they will decide to close the barn door after all the horses have bolted. Is democracy’s only hope that the European Court of Justice will rule against this too connected to prosecute army of the ‘Silicon Valley Goliaths?’
Systemic corruption by the deep state must end now.
Allies of the deep state
Facebook, Google, and Amazon are all close allies of the deep-state. Google and Facebook have both teamed up with national security agencies to spy on the public to control public sentiment as well as political, moral, and social values (click here). Facebook has experimented with and proved its ability to control its users’ emotions, and since receiving criticism that its behaviour was hubristic and other less savoury accusations, it claims it has stopped such experiments. Amazon has even entered into a $600 million partnership with the CIA and NSA to provide “cloud services.” Similar to the psychological operations implemented by the Central Intelligence Agency in the 1960s when they created the conspiracy theory program that maligned and discredited dissenting viewpoints, the tech oligopoly has reduced the Trump campaign and its supporters to puppets of the Kremlin, (click here), (and here).
Thanks to Washington’s corruption, the deep state’s interference, and partnerships with these internet-based providers to collect Orwellian data points on Americans, information flows are controlled and diversity of thought is stifled.
To be clear: the biggest existential threat to liberty, democracy, and freedom is Facebook, Google and Amazon and the money they pump into Washington’s swamp allowing them to grow even bigger and giving them control of all information flows. Is this freedom? Not on your life. It’s time to break up and regulate Facebook, Google, and Amazon.
Mitch Feierstein is CEO of Glacier Environmental Fund and author of Planet Ponzi: How Politicians and Bankers Stole Your Future.
Getting to know Mitch Feierstein:
- How do you spend your days?
In addition to acting as an advisor to several family offices I am a Managing Director at Storia Inc. a multi-media platform created to change the paradigm in digital content creation, delivery and consumption. Storia will leverage the generational shift away from traditional media to 'mobile and video first'.
-What in your answer to Q1 is especially important to you and why?
It is important to make an impact that can positively influence change.
The west has lost its way, capitalism and free markets have been bulldozed by the interests of .001% of the USA’s gargantuan Military Industrial Complex. Add in a dash of 'narrative designed to move forward specific political agendas', a controlled media, owned by six mega corporations and a cabal of reckless misguided academic central bankers - you have the perfect recipe for either:
1) The worst global economic depression in history, or
2) Civil war, as the left’s political repression of speech, thought and conduct has become 'nazism of the left,' which will end badly, or
3.) World war.
- What drove you to focus on finance & investment? Was there a particular moment you can remember that led you to this field?
Yes. When I was in college I was fascinated by everything 'Wall Street'. I was drawn in by the action and went to work in World Trade Center, Tower I in the very early 1980’s. OUCH.
- What drives you professionally?
Every day presents a different set of challenges.
-In your opinion what are the three biggest problems facing the developed and developing world?
1) Non-elected out-of-control rouge central bankers acting as risky, highly leveraged speculative hedge funds – picking market winners and losers.
2)Non-elected politicians in Brussels that want to strip EU citizens of sovereignty, liberty and democracy.
3) Extremism by the left: A 'social-justice' movement designed to end conservative thought. It seems like totalitarianism because it is. The left are only tolerant, accepting, inclusive if you agree with their opinions – when you disagree they become intolerant, violent fascists.
-If you hadn’t become an investor what would you have done?
Played golf on the PGA tour.
-If you look at recent history, can you identify a turning-point that explains how we come to face the peculiar challenges of today?
It was the excesses of the 1980’s and 35+ years of failed neo-liberal thought and policies that began with bill Clinton and ended with Obama. In reality, this was plunder, (financial fraud), on a massive scale that saw wealth inequality ratios skyrocket.
It started with Larry Summers and Robert Rubin’s convincing Bill Clinton to scrap Glass-Steagall – this allowed securitisations and use of derivatives as speculative financial instruments or weapons of mass financial destruction that allowed creation of massive credit, leverage and debt.
-What are the lessons we failed to learn during and since the 2008 crisis?
Nothing learned – we have re-inflated the same bubbles only larger – no meaningful deleveraging and risk assets are now even more risky.
- Name one measure we might implement immediately to improve the situation.
Immediately stop the central banks madness.
- If you were a President / Prime Minister what would your first three pieces of policy be?
1) Audit, shudder the Federal Reserve Bank, deflate the bubbles and jail the financial terrorists.
2) Disband and dismantle the deep state and shadow government operatives working on behalf of the military industrial complex en mass.
3) Maintain sovereignty – secure the nation- ensure democracy- end the policy failures and restore growth.
- What was your biggest & / or your most recent mistake?
Biggest mistake: owning a huge position on Lehman options.
Most recent: assuming central banks would act rationally.
- Name the book that changed you.
Alexander Hamilton by Ron Chernow
- What would you do differently if you were to start all over again?
Nothing, no regrets I move forward!
- Give our readers, members and subscribers a piece of advice that has served you well.
Never invest in anything you don’t fully understand and never, ever believe that 'it is different this time'.
- What is your main anxiety where you and / or your family are concerned?
How the coming global financial collapse unfolds and will DC be stupid enough to allow WWIII.
- What gives you hope for humanity?
As we near our darkest hour, a ray of sunshine will brightly illuminate the process in which we may begin to rebuild our crippled, corrupt and broken financial and political systems from the ground up… The revolution is coming prepare now…
Latest posts by Mitch Feierstein (see all)
- Pump, Dump & Blame it on Trump – 2018: What you need to know - January 3, 2018
- Google, Amazon, Facebook & Twitter are evil - November 27, 2017
- What happened - September 18, 2017