Does Google own your words?

At first, everything is fine:





Google claims no ownership or control over any Content submitted, posted or displayed by you on or through Google services. You or a third party licensor, as appropriate, retain all patent, trademark and copyright to any Content you submit, post or display on or through Google services and you are responsible for protecting those rights, as appropriate.


But then something very troubling hits:





By submitting, posting or displaying Content on or through Google services which are intended to be available to the members of the public, you grant Google a worldwide, non-exclusive, royalty-free license to reproduce, adapt, modify, publish and distribute such Content on Google services for the purpose of displaying, distributing and promoting Google services. Google reserves the right to syndicate Content submitted, posted or displayed by you on or through Google services and use that Content in connection with any service offered by Google.





http://news.com.com/8301-10784_3-9768298...

Does Google own your words?
The way I read this (and I'm not a lawyer), you still "own" them, but you've essentially given Google license to use them any way they see fit. They can't, however, stop YOU from using them any way YOU see fit (including selling them), since you still have the copyright. (Yes, you have the copyright even without a copyright notice.)