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There is a reason that anti-trust law was put in place.  It makes unlawful, under ruinous monetary penalties and hard prison time, any attempt to monopolize a market or restrain trade.  You can read that law at 15 USC Chapter 1; the first two sections are particularly germane.

It does not require that prices rise for consumers for there to be a violation.

It does not require that you be able to discern at the point in time the event happens what the specifics of outcome will be or that they will be "damaging".

It declares the conduct a felony -- the mere attempt to monopolize a market or restrain trade -- because it was known at the time, more than 100 years ago, that those who do this sort of thing are sneaky, conniving jackasses who will make all sorts of arguments, and many will believe them, that these acts will "help" the common man, lead to "innovation" and be of "social benefit."

Our "Just-US" system in the US has willfully and intentionally ignored, along with unlawfully re-writing this body of law from the bench, over the last 100 and especially the last 30 years.

Specifically it is no longer considered "anti-trust" unless you can prove user-paid prices rose -- and often not even then.  But the law was never changed; it never has required any such event, nor does it today.  This act by the judiciary and prosecutors (the executive) is open sedition in that it is the deliberate overthrow of a republican form of government by subversion and literal deadly force, since such "agencies" issue firearms and use the ability to imprison those with whom they disagree.  Sedition is a specific federal felony and all in the alleged executive and judiciary who have practiced it in this regard must be thrown from office and jailed now while we are in the process of lawfully dismantling and jailing every single one of these corporate executives.

I will here focus of Facebook and the specific, actionable statements they are alleged to have made that if true proves their intent and felony violation of the law.

A senior Facebook executive has privately admitted Mark Zuckerberg “doesn’t care” about publishers and warned that if they did not work with the social media giant, “I’ll be holding your hands with your dying business like in a ­hospice”.

In extraordinary comments, Campbell Brown, Facebook’s global head of news partnerships, indicated to publishers and broad­casters in a four-hour meeting last week that despite Mr Zuckerberg’s view, she would help publishers build sustainable business models through Facebook.

 Note that this is in direct contravention to what Zuckerberg said to US Congress under oath, which makes it an act of perjury as well.

15 USC Chapter 1 exists for this exact reason; these firms believe they are entirely beyond the reach of the law and may do as they wish with their own motive being profit, irrespective of their legal obligations.  The law says otherwise but thus far nobody within the US Federal or State governments will take them on, just as they will not take on the medical monopolists who do the same damn thing.

Every one of these firms (not just Facesucker) must be destroyed using existing law that has been on the books for more than 100 years.  Imprisoning all of their executives for 10 years for each attempt and fining them $100 million for each such attempt will destroy all of them.

That is exactly what the law provides and what must take place right here, right now.

If the government will not enforce the law as written then we, as citizens are no longer bound by the alleged "laws" of said government as a contractual agreement to which one is bound requires consideration by both sides.  If one side (the government) repeatedly, continually and maliciously acts in bad faith and fails to uphold their end of the bargain the other has no further obligation toward same.

Period.

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2018-08-15 07:00 by Karl Denninger
in Corruption , 107 references
[Comments enabled]  

Read....

Several hundred Roman Catholic priests in Pennsylvania were accused of sexually abusing more than a thousand children, a grand jury report on Tuesday said, in an alleged “cover-up” described as “sophisticated” by the state’s attorney general.

Hundreds of priests in one state abused well north of a thousand kids.

Three hundred priests.

The Church not only knew about it they kept records of it and covered it up.

Multiply by 50.  How many priests and how many kids?  Uh huh.

Now go back and read this Ticker again, which I released just a few days ago.

Once you have, go get some coffee or a beer.

Consume it.

Now come back and read both articles again.

Repeat as many times as you need to until it sinks in what's been going on here and you understand that this is not limited to the Catholic Church; it in fact is the case throughout the entire government and not just in the US either.

It is why despite 100+ year old law making it a felony to in any way try to restrain trade or monopolize a business not one single medical provider has been indicted.

It is why despite virtually every large financial institution committing repeated felony level criminal acts -- in fact I wrote an article years ago documenting that essentially every large bank would have violated the "three strikes" laws in most states -- not one has been shut down nor has one executive gone to prison for life, as you would for theft at the same scale.

It is why despite multiple, repeated felony violations by pharma manufacturers, some taking place while being prosecuted for previous acts, not one executive from those firms has gone to prison nor have any of those firms been shut down.

It is why despite repeated apparent felony violations of 15 USC Chapter 1 among tech firms there have been zero prosecutions nor have any of those firms been shut down (nor have any of those executives gone to prison.)

It is why Elon Musk thinks he can get away with buying stock while holding material inside information on discussions with the Saudi Sovereign Wealth Fund, which, if he really did hold such discussions constitute a slam dunk insider trading case and, I remind you, they just busted a sitting Congressman for the very same thing.  Incidentally that act carries a 20 year felony prison sentence.

All of the above and more is why the Federal Government is running huge deficits and has for the last 20 years.  It is why you are getting screwed.  It is why jobs have been offshored relentlessly, illegal invaders pick all your strawberries yet not one farm executive or farmer has gone to prison either and middle-class America has been destroyed.

It is all illegal, it has all been covered up and the victims are not just a bunch of kids being sodomized by priests.

The victims are virtually every person in the United States except those who are rich and powerful enough to be able to do these things and not face decades in prison.

Were you or I was to do the same thing, we'd be behind bars right now.

Yes, the entire Catholic Church in the United States must be criminally prosecuted, due to the actual knowledge and cover-up of these acts all the way up to the Vatican.

The entire set of assets held by same in the US must be seized and everyone personally involved must be prosecuted and imprisoned.

But we must not stop there.

We MUST apply the same sanction to every single one of the above lines of business where any such acts occurred and ALL of their executives.

You either put a stop to all of this crap America -- not just the pedophile priests -- or sit down and shut up for you like fascism, you like being screwed, you like being bankrupted and you don't give a good damn about people breaking the law -- and thus when your family is personally victimized -- past, present or future -- I do not want to hear about it.

Are you ready to call and honor a general strike yet?

If not why not?

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2018-08-10 07:00 by Karl Denninger
in Corruption , 256 references
[Comments enabled]  

Explain it folks.

sitting Congressman is on the board of a publicly-traded company.

Granted, a company not based in the US, but nonetheless explain to me exactly how and why this is legitimate, tolerated, and permitted by the US House?

Now he's been indicted for insider trading and has refused to resign.  But that's not the story.

The story is how is it that he came to be in Congress and on the board of the firm at the same time?

Never mind his committee assignments, which included direct oversight of the industry in question.

This is rank corruption that at first blush appears to be on the scale of Feinswine having a Chinese spy as an office manager (no, not "just a driver"), and neither she or he have been arrested or indicted -- for anything!

But in fact it's much worse because this is the sort of conflict of interest that, had anyone in the House given a damn, would have been forced into the open and resolved long before any insider trading could have happened.  The obvious - - that his oath of office and possibly violations of the law are implicated simply by holding both posts at once due to the requirement that he, as a Congressperson, have undivided loyalty to his Congressional position, is bad enough.

What's worse is when he sits on regulatory committees with authority over that industry.

I have an answer to the "how" question coming up shortly on The Market Ticker folks... and it might -- just might -- be the most important article I have ever published.

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2018-07-29 07:00 by Karl Denninger
in Corruption , 203 references
[Comments enabled]  

Let's cut the crap eh?

Facebook has been caught "demotiing" things it doesn't like, while tolerating the same sort of abusive content (e.g. that which promotes Sharia) aimed at different people.  For example, you can't say "gays are bad" or "women should be slaves" without being accused of inciting violence and restricted or banned entirely, but you can talk about and be in favor of Sharia Law on their platform, which in fact is the same thing, because under Sharia Law women are slaves and gays would be literally imprisoned or slaughtered.

The firm has also been caught selling data -- personally identifiable data -- to third parties.  That's what "Cambridge" is all about; selling access to personal profiling capabilities for money.

Twitter has said they don't "shadowban" -- and then admitted at the same time they did, in that their search algorithm will not find content (deliberately) or even, in some cases, a person's Twitter handle if they are what Twitter considers a "****ty person."  What's a "****ty person"?  I guess that's whatever some group of people at Twatter say it is.

Are Facebook and Twitter free to do this under US law?  Yes, they are, provided they don't represent otherwise.  That is, provided they do not commit fraud by representing either openly or by inference that they are a place where freedom of speech is present they are free to set whatever rules they like.

But both platforms, along with most others, have committed fraud in this regard because they do represent that their policies are not arbitrary, capricious, or applied unevenly.

As a counter-example I point to the FAQ here on the The Market Ticker.  It explicitly says that your access here is a privilege, not a right or contractual obligation, that same can be withdrawn with or without cause, and that the owners (that would be me) can edit, move or remove content as seen fit with or without notice.  That's pretty clear.

But as soon as you represent that there is some process that's not arbitrary and is evenly applied you damn well better adhere to it -- in both letter and spirit.

Neither Face****er or Twatter do so and in fact they both have said exactly that in direct contravention of their claimed public position in their terms of service!

In response to all of this there have been myriad screams from various people, and now Gaetz (my district's Congressnake) has filed an FEC complaint saying that Twitter's misdirection on this amounts to unfair (and thereby illegal) subsidization of his opponents.

What Gates could do (but won't) is urge people to vote with their wallets.

An overwhelming majority of the people who live here are "deep red" politically.  If they, along with the rest of the people in this country that are hard-core "Red State" folks not only told these companies to screw off but also boycotted all their advertisers this problem would be resolved immediately.

It's not like that wouldn't completely destroy these firms.  It would.  Consider that they all survive by running advertising, since none of them charge users directly.  What happens to their market value if half the nation, which is roughly where the R/D split lies among partisan lines, actively boycotts any firm that advertises on either network?

Their advertising value goes to zero, that's what happens -- and so does the company.

So exactly how pissed off are you?  If the answer is "very pissed off" then fix it yourself, jackass.  It's not like these companies don't make known on a trivial basis who their advertisers are, since the ads are literally "in your face!"

Stop buying anything advertised on these sites and, if you have the opportunity to tell the company why you're boycotting them, do so.  If you're a politician and tired of this crap then advocate that your constituents do the legal, free-market thing.  DESTROY THESE FIRMS BY DESTROYING THEIR MARKET POWER THROUGH PERFECTLY LEGAL AND APPROPRIATE REFUSALS TO BUY ANYTHING FROM THOSE COMPANIES THAT ADVERTISE WITH THEM.

End of problem -- and end of Face**** and Twatter.

In short either nut up or shut the **** up Mr. Gatez.

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2018-07-28 11:25 by Karl Denninger
in Corruption , 482 references
[Comments enabled]  

I say this as an adult-confirmed (through RCIA, NOT as a kid) Catholic who no longer goes to Mass.

Nor will I, until this crap stops and the people responsible for it are all either in Hell where they belong -- or in prison (and headed to Hell) and all of the assets accumulated by those people and in their names are stripped from said so-called "faith."

This is not negotiable for me, as I made clear to the local Archdiocese more than a decade ago; men claim to be Pope, men claim to be Holy, men claim that building over there is a Church and the seminaries churn out Priests -- men of the cloth.  The entire system is intertwined through both act and money, and all of it is inseparable from the filth that flows from the top.

The fact is that's not a Pope (and hasn't been for a very long time), none of them are Holy as they knew damn well this was going on and turned the other way, or were involved themselves, that "Church" is a place of ritual sexual abuse of children and the seminaries have intentionally taken in gay men who like to **** little boys, which is the only possible way that you can wind up with that many sexually-abusive priests who like to go up the dirt road with kids.  This is not just a US problem -- it's has been a world-wide problem and still is.

And now we have this.

VATICAN CITY (Reuters) - Pope Francis on Saturday accepted the resignation of Cardinal Theodore McCarrick, one of the U.S. Catholic Church’s most prominent figures, who has been at the center of a widening sexual abuse scandal.

No, stripping him of his hat and public ministry doesn't do it.  Nor would de-frocking him, which I note they didn't do, but could have.

Asset-stripping every single penny that was accumulated under his watch and tossing his ass and everyone who knew about it and did nothing in prison might meet the standard.

Maybe.

But until then, no, I will not kneel before Satan, because to proclaim faith when in possession of knowledge of such acts by an inviolate, interwoven organization or to in any way support same, or any branch of same, is to do exactly that.

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