Nope. This is still not a thing that is happening.

It seems these “Facebook is going public so copy and paste or else they’ll monetize your soul and turn you into a witch” hoaxes pop up every so often. And they’re never true.

Here's the latest:

Deadline tomorrow !!! Everything you’ve ever posted becomes public from tomorrow. Even messages that have been deleted or the photos not allowed. It costs nothing for a simple copy and paste, better safe than sorry. Channel 13 News talked about the change in Facebook’s privacy policy. I do not give Facebook or any entities associated with Facebook permission to use my pictures, information, messages or posts, both past and future. With this statement, I give notice to Facebook it is strictly forbidden to disclose, copy, distribute, or take any other action against me based on this profile and/or its contents. The content of this profile is private and confidential information. The violation of privacy can be punished by law (UCC 1-308- 1 1 308-103 and the Rome Statute). NOTE: Facebook is now a public entity. All members must post a note like this. If you prefer, you can copy and paste this version. If you do not publish a statement at least once it will be tactically allowing the use of your photos, as well as the information contained in the profile status updates. DO NOT SHARE. Copy and paste

Facebook has its own terms of service, which are readily available on their website. But in short, they don’t “own” your media. By agreeing to the terms and conditions of Facebook (which you did when you signed up and you continue to do every time you log in) you are granting Facebook permission to distribute information in accordance with your preferred privacy settings.

If you don’t agree to the policies, you can always stop posting or cancel your Facebook account altogether. Your choice. But copying and posting legal-sounding jargon isn’t going to do anything.

For more information, check out Snopes.com (and bookmark that in case this ever comes up again).