Everything you need to know about the post about privacy that's all over your Facebook

You may have logged onto Facebook in the last few hours and noticed your news feed clogged up with the following post:

“Now it's official! It has been published in the media. Facebook has just released the entry price: £5.99 ($9.10) to keep the subscription of your status to be set to “private.”

"If you paste this message on your page, it will be offered free (I said paste not share) if not tomorrow, all your posts can become public. Even the messages that have been deleted or the photos not allowed. After all, it does not cost anything for a simple copy and paste.”

The post claims that copying and pasting the text as your status will prevent Facebook from using your photos, info or posts on the site.

This, of course, is a hoax - posting this status will have no effect on your Facebook privacy settings and may have just circulated after the social network suffered a massive outage this week

Speaking on behalf on Facebook, Andrew Noyes has reminded users that agreeing to the Terms and Conditions of the site means that you give them permission to use, share and collect your information.

Users have to ability to change this through their own privacy settings - Facebook does not own your content.

(Simply: If your post are set to public, Facebook are allowed use them)

"Under our terms , you grant Facebook permission to use, distribute, and share the things you post, subject to the terms and applicable privacy settings," he said.

"We have noticed some statements that suggest otherwise and we wanted to take a moment to remind you of the facts -- when you post things like photos to Facebook, we do not own them”.

Facebook also took to its own status to let us know that it has no plans to introduce a membership fee.

"Facebook is free and it always will be," they wrote.

Here are

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