Terms, Cookies and Privacy Notice. I will be a long time customer for sure. In addition to these “Bitcoin ideas,” David explained that the creators of Libra “threw in a few ICO ideas,” such as “let’s have a token that you can buy to be an investor in Libra” and “let’s swing around trillions of dollars of reserve currency.”, In other words, “all of the things that you would see written on ICO papers in 2017.”, “The thing was, though, this is Facebook, and Facebook is huge,” David said. 119 were here. Therefore, regulators around the world, and particularly in the United States, feared that Libra could overtake the dollar’s role as the default international currency. In each episode we explore the science and spirituality of human consciousness and the very nature of our existence, with scientists and spiritual leaders from many walks of life. New Date ... Facebook is showing information to help you better understand the purpose of this event. And you can’t really do that, it turns out.”, For example, “they did ‘super-safe investments’ that turned out to be based on, say, mortgages, and then some of those mortgages went bad; this then led to the investments collapsing, and then the money market funds collapsing, and therefore, the people relying on the money market funds collapsing.”, What happened then? Facebook had. “It’s a potentially dangerous belief; it’s very disconnected from reality; I don’t really think we want more people getting into it,” he said of QAnon. “I have discussed the concept many, many, many times that vaccines destroy our connection to God and that we are in a spiritual war with Principalities of Darkness that have a death wish for our children, and humanity at large,” he wrote in one QAnon-inflected post. Perianne Boring Speaks, US Elections, COVID, Zombies, & Bitcoin: Miko Matsumura & Alex Mashinsky, Whatever Happened to Facebook’s Libra? Whether it was because of the spread of COVID-19, the tumultuous elections in the United States, the numerous natural disasters that plagued many parts of the world, things did not go as expected this year, trips were cancelled, events rescheduled; in the business world, fortunes were made and lost for completely unpredictable reasons. Reddit was significantly easier to use for the kind of crowd-sourced research and interpretation that forms the core of participation in QAnon, and the site was host to a large pool of potential recruits, such as the 1.2m members of the subreddit r/conspiracy. Today that group has grown to more than 90,000 members. And on 20 June, just before Trump’s campaign rally in Tulsa, Oklahoma, Trump’s adult son Eric posted a QAnon meme on his Instagram account. “It’s a weird little story,” David said. Social media bans are often difficult to maintain, but Reddit’s move was uncommonly effective. QAnon evolved out of the baseless Pizzagate conspiracy theory, which posited that Hillary Clinton was running a child sex ring out of a Washington DC pizza restaurant, and has come to incorporate numerous strands of rightwing conspiracy mongering. 112 were here. Thank you for registering to Finance Magnates. “Last month, we took down accounts, Groups, and Pages tied to this conspiracy theorist movement for violating our policies,” a company spokesperson said in a statement. “It’s an incitement to violence.”. The Singapore dollar is kept stable by two large sovereign wealth funds that add up to about $600 million or $700 million…that’s the whole reserve.”. In May, Republican voters in Oregon nominated a QAnon believer to run for the US Senate in November. Down The Rabbit Hole.Kefalonia, Argostólion, Greece. Valid or not, America has slid down a rabbit hole where some lawmakers and citizens question the integrity of voting. “What if all of those people get into Libra?”, After all, “Facebook would like them [to be a part of Libra.] 3K likes. “That’s a lot of money, it turns out,” he said. (Cook also uses the site to aggressively promote his various products and a subscription-only platform for “medical freedom patriots”. Down the Rabbit Hole with David Gerard. Yes. QAnon is hardly an organization, though as a movement it has certainly caused harm and could be considered dangerous. “In some ways, the second that Trump officially acknowledges QAnon is the second it becomes a partisan political issue that Facebook may not be able to take action against,” said Friedberg. That's dangerous. “Do the internet companies bear some responsibility? “So, when Facebook walked up with the Libra whitepaper, which basically had the same plan that led to the 2008 financial crisis, regulators weren’t happy with it.”, David called the whole thing “bizarre”: after all, “they have an economist, Christian Catalini. “[…] You can’t expect governments to really welcome that.”, Finance Magnates is a global B2B provider of multi-asset trading news, research and events “Ever since 2008, the one thing that regulators fear is someone trying to do this again. “So Eric Trump posted a pic with a ‘Q’ in the imagery,” an administrator of one of the larger QAnon groups wrote. Let us know below why and with whom you want to join the Golden Circle. Once he started searching, he couldn't stop. In 2017, David published his first book on the crypto space, dubbed Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts. The platform has created a ready-made digital pathway from public pages to public groups to private groups and finally secret groups that mirrors the process of “falling down the rabbit hole or taking the red pill”. The plan was that the interest in this reserve pile would be used to pay for the operational costs of the Libra network. Down The Rabbit Hole Theatre Co., Ridgeway Ontario. “It’s like dollarization, which is the word for when a country’s economy is totally overtaken by US dollars,” David said. “Every chance he’s ever had, he breaks privacy and leaks information, and then apologizes for it and does it again,” he said. Because we know how to move numbers on a computer, and Libra would have to be a part of the financial system if it was going to work with ‘real money’.”. Indeed, there have been numerous incidents of real-world violence linked to QAnon, and in May 2019, the FBI identified QAnon as a potential domestic terrorism threat in an intelligence bulletin. I love Down the Rabbit Hole! The life of Libra is a complex tale; we asked David to start at the very beginning. “That would be quite bad, because while the US dollar is maintained by the Federal Reserve for US interests…there is some sort of public service aspect to dollarization. To Friedberg, the window for Facebook to act on QAnon may have already passed. Today, QAnon remains unwelcome on Reddit, with the few subreddits that address it dedicated to either debunking the theory or providing support to people who have lost friends and family members to QAnon. Down The Rabbit Hole is allowed to give away 2 Golden Circle tickets on Facebook, allowing the band to see you at home and virtually get you into the show. The company did not provide evidence for this claim, which is contradicted by screenshots of pages and groups appearing in recommendations that were taken in May. 2 talking about this. Facebook has been reluctant to appear in any way biased against Republicans, and if (or when) QAnon reaches Congress, it will be even more politically difficult for Facebook to take a stand. “I’m starting to wonder if we’re just waiting for the next shoe to drop – another act of violence,” he said. The digital architecture of Facebook groups is also particularly well-suited to QAnon’s collaborative construction of an alternative body of knowledge, Friedberg said. Asked about this discrepancy, Facebook said that the pages and groups in question had been marked as “non-recommendable” as of 8 April 2020 for violations of policies against clickbait, viral misinformation and hate speech, but that a page or group can be restored to eligibility for recommendations if its behavior improves for several months. Let the games begin — Review: Alice in Borderland takes us down a deliciously bonkers rabbit hole Alice in Wonderland and Ready Player One meet Lord of … We’re closely monitoring this activity and how our policies apply.”. Despite this, Uscinski is skeptical of the idea that kicking QAnon off Facebook would help anyone. “They’ve misbehaved in so many ways, and they’ve broken people’s trust repeatedly,” David said. Facebook also provides QAnon with an even larger pool of potential recruits than Reddit could, especially for the somewhat older, Evangelical crowd that has proven susceptible to QAnon’s messaging. For example, Facebook was fined by the Federal Trade Commission in 2019 for breaking its 2012 settlement with the same entity on user data privacy matters. “The regulators looked at Facebook’s plans and said, ‘you are not doing this,’” David explained. David is known as a crypto sceptic, blockchain pundit, and the author of cryptocurrency and blockchain news site Attack of the 50 Foot Blockchain. The new book serves as a definitive volume on Libra’s birth, growth, and the massive change in plans that Facebook was forced to make in order to preserve the project’s life. Analyses by Gallagher, the social media researcher, and the New York Times demonstrated how QAnon groups fueled the viral spread of “Plandemic”, a 26-minute video chock full of dangerously false information about Covid-19 and vaccines. “It’s like Facebook did this coin, and it was a huge thing all over the news, and then, of course, the governments of the world slapped it down. Q’s initial commentary on the Facebook bans was concise: “Information Warfare,” Q posted on the website 8kun. Getting deplatformed is harmful, but the idea that it would somehow make this disappear is fanciful.”. “Once I started liking those pages and joining those groups, Facebook just started recommending more and more and more and more, to the point where I was afraid to like them all in case Facebook would flag me as a bot,” said Friedberg. Down the Rabbit Hole Outlandish! A man in the crowd holds a QAnon sign as crowds gather to attend Donald Trump’s campaign rally in Las Vegas, Nevada, 21 February 2020. “If Facebook flipped a switch and every Q post disappeared tomorrow, that probably would be harmful for QAnon,” he said. WWG1WGA is a QAnon catchphrase. Instead, QAnon groups on Facebook have continued to grow at a considerable pace in the weeks following the takedown, with several adding more than 10,000 members over 30 days. “Facebook is a unique platform for recruitment and amplification,” said Brian Friedberg, a senior researcher at the Harvard Shorenstein Center’s Technology and Social Change Project who has been studying QAnon for years. “Everything about our research suggests that these people are not irrational; they’re hyper-literate, even if they’ve come to beliefs that are empirically inaccurate ,” Partin said. “Singapore’s a tiny country. And he’s concerned about the free speech implications of censorship by tech platforms. We are your local purveyor of limited production, organic, boutique, artisanal, hard to … Q, whose cryptic messages and predictions claimed to be based on a high-level government security clearance, quickly decamped from 4chan to the even more extreme 8chan, where believers could read Q’s latest “crumbs” directly from the source. Therefore, when Libra first debuted on the global stage, regulators seem to have had good reason to react with distrust. Would it be better if they took it down? While anti-government conspiracy theories were not new, the bulletin stated, social media was allowing them to reach a larger audience, and the online narratives were determining the targets of harassment and violence for the small subset of individuals who crossed over into real-world action. “But there is resiliency built in. If the US abuses the power of the dollar, then people won’t want dollars quite so much anymore.”, However, the US is unlikely to want to abuse its power, because “the US gets really quite a lot out of having the dollar as an international currency. Facebook’s algorithms appear to have detected this synergy between the QAnon and anti-vaccine communities. The plan was to build a global financial system that could be used by everyone everywhere; however, things did not go as planned. QAnon is a movement of people who interpret as a kind of gospel the online messages of the anonymous figure, ‘Q’. McDermott: Hawley's populist demagoguery is a smoother form of Trumpism. The Guardian also continued to receive recommendations to join additional QAnon groups after its initial query to Facebook. The pages and groups that were removed in early May violated the company’s ban on “coordinated inauthentic behavior” – ie the kind of digital astroturf tactics that Russian operatives used to support Trump’s presidential campaign in 2016. Eric Trump deleted the image relatively quickly, but not before screenshots spread across the Facebook Q-sphere. While QAnon thrives on Facebook, another social media site took timely and decisive action against it. The company also claimed that “all of the Pages” and “the vast majority of Groups” documented by the Guardian had been removed from recommendation algorithms prior to the Guardian’s query. Partin said that he generally favored Facebook taking a “more aggressive approach to moderation”, including addressing the recommendation algorithms and trying to reduce the spread of misinformation out of dedicated conspiracy communities and into the mainstream. David also commented on the public perception of the individual leaders involved with the Libra project. Nothing is as it seems at Down The Rabbit Hole Cupcakery. No.”. The uniformity of the response was amazing.”. “I really do not think that QAnon as we know it today would have been able to happen without the affordances of Facebook.”. Meanwhile, “they hadn’t finished their software, and they hadn’t finished their economic plan, but they decided to release them anyway.”, Are Alternative Payment Methods the New Banking King?Go to article >>. An Emporium of delights! I always get a reply back within the hour, (which is unheard of in other groups). Cook has begun referencing the “deep state” and stoking fear of forced vaccination and “FEMA camps”. Perhaps one of the biggest changes in plans in the business world was the decisive shift in the course of Facebook’s Libra project, which was announced in the middle of 2019. Thank you. And while YouTube and Twitter have played an important role in providing a broadcast platform for QAnon content, the specific structures provided by Facebook are uniquely suited to the participatory “work” of engaging with QAnon. We do not store your information and we do not disclose our sources. For example, after reading more than 10 years’ worth of material “by and about him,” David Gerard said that “David Marcus strikes me as a completely sincere guy.”, “If David Marcus says that he thinks XYZ, he probably does think those things, and will act as though he does,” David Gerard explained. with special focus on electronic trading, banking, and investing.Copyright © 2020 "Finance Magnates Ltd." All rights reserved. “What would it do to smaller ones?”, For example, “I think they had a plan to put the Singapore dollar into the Libra reserve at some point,” he said. In early May, QAnon braced for a purge. “We’re watching a normalization process of these conspiracies, and I think the beast that is Facebook was really the answer to this all along.”. These groups and pages play a critical role in disseminating Q’s messages to a broader audience and in recruiting more believers to the cult-like belief system, researchers say. Another QAnon supporter, Marjorie Taylor Greene, is likely to be elected to the House of Representatives after she came first in a Republican primary in a conservative Georgia district on 11 June. Down The Rabbit Hole.Kefalonia, Argostólion, Greece. To enact a blanket ban akin to Reddit’s under its current rubric of rules, Facebook would likely have to designate QAnon as a “dangerous organization” – the category it uses to ban both terrorist and hate groups and any content published in support or praise of them. 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