To Pin or Not to Pin?

So I have heard some controversy over Pinterest and pinning of copyrighted material. So I decided to look into their Terms of Service for a clearer look at their stance. The first bit I read really blew me away...

"b. How Pinterest and other users can use your content.
Subject to any applicable account settings you select, you grant us a non-exclusive, royalty-free, transferable, sublicensable, worldwide license to use, display, reproduce, re-pin, modify (e.g., re-format), re-arrange, and distribute your User Content on Pinterest for the purposes of operating and providing the Service(s) to you and to our other Users. Nothing in these Terms shall restrict Pinterest’s rights under separate licenses to User Content. Please remember that the Pinterest Service is a public platform, and that other Users may search for, see, use, and/or re-pin any User Content that you make publicly available through the Service."

So...... my photo gets pinned and Pinterest automatically have rights to full use of that content how ever they damn well choose. Wow, bold. But just wait there is more (how could it be any worse right?).

"8. Indemnity
You agree to indemnify and hold harmless Pinterest and its officers, directors, employees and agents, from and against any claims, suits, proceedings, disputes, demands, liabilities, damages, losses, costs and expenses, including, without limitation, reasonable legal and accounting fees (including costs of defense of claims, suits or proceedings brought by third parties), arising out of or in any way related to (i) your access to or use of the Services or Pinterest Content, (ii) your User Content, or (iii) your breach of any of these Terms"

Whoa, so not only do they automatically have the right to use your content in anyway they choose but they are having you agree they are not liable for any of the use of your content. I call shenanigans. Really that is downright ridiculous! I see that as two VERY good reasons not to use or be associated with Pinterest in any way.