Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
AI Tech Stocks Earnings Season Opportunities - 28th Apr 24
S&P Stock Market Detailed Trend Forecast Into End 2024 - 25th Apr 24
US Presidential Election Year Equity Performance in the Presence of an Inverted Yield Curve- 25th Apr 24
Stock Market "Bullish Buzz" Reaches Highest Level in 53 Years - 25th Apr 24
Managing Your Public Image When Accused Of Allegations - 25th Apr 24
Friday Stock Market CRASH Following Israel Attack on Iranian Nuclear Facilities - 19th Apr 24
All Measures to Combat Global Warming Are Smoke and Mirrors! - 18th Apr 24
Cisco Then vs. Nvidia Now - 18th Apr 24
Is the Biden Administration Trying To Destroy the Dollar? - 18th Apr 24
S&P Stock Market Trend Forecast to Dec 2024 - 16th Apr 24
No Deposit Bonuses: Boost Your Finances - 16th Apr 24
Global Warming ClImate Change Mega Death Trend - 8th Apr 24
Gold Is Rallying Again, But Silver Could Get REALLY Interesting - 8th Apr 24
Media Elite Belittle Inflation Struggles of Ordinary Americans - 8th Apr 24
Profit from the Roaring AI 2020's Tech Stocks Economic Boom - 8th Apr 24
Stock Market Election Year Five Nights at Freddy's - 7th Apr 24
It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- 7th Apr 24
AI Revolution and NVDA: Why Tough Going May Be Ahead - 7th Apr 24
Hidden cost of US homeownership just saw its biggest spike in 5 years - 7th Apr 24
What Happens To Gold Price If The Fed Doesn’t Cut Rates? - 7th Apr 24
The Fed is becoming increasingly divided on interest rates - 7th Apr 24
The Evils of Paper Money Have no End - 7th Apr 24
Stock Market Presidential Election Cycle Seasonal Trend Analysis - 3rd Apr 24
Stock Market Presidential Election Cycle Seasonal Trend - 2nd Apr 24
Dow Stock Market Annual Percent Change Analysis 2024 - 2nd Apr 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Beware the TikTok Trojan Horse

Politics / Social Media Apr 12, 2023 - 07:15 PM GMT

By: Stephen_McBride

Politics

The truth behind the TikTok hearing… Your vacuum cleaner could be spying on you… Two words that make every American a suspect… This is what concerns me the most...

1.As you read this, politicians on both sides of Capitol Hill are trying to take away your freedoms.

I wish that was an exaggeration… but it’s not.

A new bipartisan law was recently introduced to Congress. If passed, you can wave goodbye to your right to privacy in your own home.



Because it will label every single American a potential threat to the state.

And give the government the right to monitor what you do in your own home at all times.

Of course, the media isn’t framing it this way.

They’re barely covering it at all. And when they do, they’ll label it something innocuous like…

2. The “Ban TikTok” Act.

US lawmakers recently hauled the CEO of popular social media app TikTok in front of Congress.

They grilled him on accusations that TikTok—which is owned by Chinese firm ByteDance—is spying on us through its highly addictive app that’s installed on most American teenagers’ phones.

TikTok can’t read your texts and emails directly. But it does a lot of other things.

It admitted to tracking journalists’ physical movements and sending the data to its Chinese parent company. It also collects your faceprints and voiceprints.

That’s why a contact of mine—who runs a venture capital fund—told me it’s the one app he doesn’t let his kids use. He went so far as to call it “fentanyl for the brain.”

Lawmakers already knew this before the hearing. If they wanted to ban TikTok, they could have done it years ago.

That’s not why this hearing took place. They did it to lay the groundwork for a new, alarmingly draconian law they’d like you to accept.

3. It’s called the RESTRICT Act.

Remember the PATRIOT Act?

It was a series of sweeping anti-terrorist laws enacted after 9/11.

Problem is… two decades later, the same laws designed to take down terrorists are now being used to surveil ordinary Americans.

For example, the FBI can secretly wiretap you without probable cause. Try withdrawing $10,000 (of your own cash), and you’ll be questioned like a terrorist and reported to the IRS.

The RESTRICT Act is the PATRIOT Act for the internet.

The Patriot Act allowed the government to secretly listen in on your phone calls, read your emails, and browse through your internet history.

The RESTRICT Act takes it one step further…

It was recently introduced to Congress by Senators Mark Warner (D-VA) and John Thune (R-SD). It’s supported by over 20 politicians on both sides of the aisle, including Democrat Tim Kaine and Republican Mitt Romney.

If voted into law, it would grant the government the right to access any device in your home connected to the internet.

And I’m not talking about just laptops and smartphones. A modern home has tons of devices connected to Wi-Fi. Home security cameras, baby monitors, robot vacuums, smart speakers, smart thermostats, cars…

Think how many devices in your home feature a camera or a microphone. The government will have legal rights to access them all. They’ll be able to see and hear everything you do in your own home.

4. I’ve read through the bill. It’s shockingly authoritarian and grants broad powers no government should have…

Hidden amid pages upon pages of lawyer-speak is Sec3(a).

It states the US government:

…is authorized to and shall take action to identify, deter, disrupt, prevent, prohibit, investigate, or otherwise mitigate, including by negotiating, entering into, or imposing, and enforcing any mitigation measure to address any risk arising from any covered transaction by any person.

Without getting into the legalese, here’s what you need to know.

The RESTRICT Act defines “covered transaction” as “current, past, or potential future transactions.”

That means if the government suspects you might do something bad in the future, it can spy on you.

The law defines the term “transaction” just as loosely…

It says the “acquisition of information” is a transaction. So, if you read a blog or watch a YouTube video from a “risky” source, you’re a suspect, and they have the right to spy on you.

Chilling, right?

This is one of the biggest power grabs in American history… under the guise of banning TikTok.

Now, please understand this is one of the oldest tricks in the book for a government to seize power.

Just like terrorism was a real problem… so too is Chinese spying.

That doesn’t mean we must forfeit our rights to solve it.

The same folks saying, “If you’re not for the PATRIOT Act, you’re with the terrorists,” are now telling us, “If you’re not for the RESTRICT Act, you’re with the communists.”

Don’t be fooled.\

5. Forgive me for getting fired up about this. I love technology and hate to see it weaponized by governments and turned against ordinary people.

President Biden says he’ll sign the RESTRICT Act if it passes through Congress.

Hopefully, it doesn’t make it that far.

It’s worrying that almost two dozen elected US senators and The White House support this crazy “nanny state” bill. But I don’t see it passing anytime soon.

There’s been strong pushback against the RESTRICT Act from the public since it was introduced. And passing any new laws with the current divided government is a tall order.

What concerns me is how laws like the RESTRICT Act could be pushed through during a crisis.

I’m sure you’ve heard the old Winston Churchill quote: “Never let a good crisis go to waste.”

Politicians are masters at pouncing on opportunities to pass new laws when some new crisis scares large swaths of the population.

Americans never would have put up with the PATRIOT Act if 9/11 didn’t happen. We would have balked at the idea of “lockdowns” if not faced with the “deadly” COVID virus.

It’s only a matter of time before the next major cyberattack… or some Chinese-related threat.

Uncle Sam could use this to push through the RESTRICT Act, which would end the era of the open internet.

Forewarned is forearmed. Be on the lookout for the next crisis, armed with the knowledge that it’s simply an excuse to take away your freedoms.

Stephen McBride

Chief Analyst, RiskHedge

To get more ideas like this sent straight to your inbox every Monday, Wednesday, and Friday, make sure to sign up for The RiskHedge Report, a free investment letter focused on profiting from disruption.

Expect smart insights and analysis on the latest breakthrough technologies, the big stories the mainstream media isn't reporting on, and much more... including actionable recommendations.

Click here to sign up.

© 2023 Copyright Stephen McBride - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in