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The existing laws are very clear about "fair use" of content: time shifting, parodies, quotations, etc.
If you go beyond "fair use" in copying and distributing content, you are already in violation of the laws.
What scares the shit out of the pirates is the loss of the DMCA safe harbor provision that allows them to say "I didn't know" and "It's not my fault" when their entire business model is based on distribution of other peoples intellectual property.
And, yes, you should know what is on your website.
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