No, he's doing it for insider trading purposes and to ruin the country for revenge.
this post was submitted on 03 May 2025
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I don't any reason for him to "reign in" the power of the owning class, especially since he and most other politicians are part of it. Its more likely that he is intentionally causing a recession to give the wealthiest an opportunity to consolidate even more economic control by creating conditions where less secure businesses will fail or be bought out. This functions in conjunction with creating a disenfranchised underclass that can be better exploited for cheap labor domestically and abroad by stripping marginalized groups of their rights. He is just looking out for his own in a country that was rapidly losing dominance of global geopolitics and trade.
Many of these oligarchs openly profess to believing in accelerationism
crash society so the mega wealthy can swoop in and buy up the state, directly replacing the government.
The funny thing is that their two great allies — the rule of law and their money — won’t serve them at all when it collapses.
I mean, that is true. Also what is true is that these people will be the ones who determine wealth afterwards, and those who help can still come out on the other end in a class they were previously below. There are a lot of people out there that will just go with it. Even trained combat forces. Because they are so internally structured to accept hierarchy. This isn't like a nuclear war wiping out most of humanity type collapse. This will be more like a USSR collapse. Those who know how the greater system works internationally, and who already had resources to invest in the turnover, now are the top dogs. It was people who were already elites, the highest order of the international mafia, and the higher echelon of the security/intelligence forces, like the KGB (though, I guess those qualify as elites), are the oligarchs over russia today.
I ultimately hope this doesn't happen, but if it does, I would enjoy seeing their PMCs turn on therm. However I also fear the resulting warlord system, or unified martial state, that could come of that, possibly more.
I’m no expert but I think a lot of warlordish thugs are the ones who oligarched their way out of the USSR’s collapse, not a bunch of doughy tech-bros.
Jeff may have shaved his head and Mark may do BJJ, but when there’s no penalty for murder I think those won’t do much against their body guards’ 9mm.
While that is true, and the absolute apex of oligarchy is ex-kgb, and the head of the mafia, there were a lot of elite, that had lots of, previously illegal, financial stuff going on abroad, and had many professional, and diplomatic contacts formed from years of working with other countries. They also swooped in and bought up massive stocks from people who didn't really understand their value, in the worst of the instability, but did so more from afar, until things started to calm a bit, then they moved back in, and started operating at home.
What could be different this time is that I don't think Europe will be in the mood to shield their assets in the meantime. Neither will China.
Eh, I will believe it when I see it. If this situation were to occur, I predict you would see a lot of bluster, and wind, blowing smoke around, about this, mean time the banks are all just doing their thing, making money, dealing with whoever.
My reading is that everyday europeans and european politicians are stunned by the Trump tariff situation, threats of invading Canada and Greenland, and are particularly furious at American tech oligarchs. They've already begun transitioning away from anything tainted with American tech. And it isn't new — they've been dragging it out in court with Apple, Google, Microsoft, and Meta for years.
Maybe they'll find someone friendly like Orban's Hungary or a tax haven micronation. That's not someone I would count on to safeguard billions of dollars of assets, though.
remember, even the Nazis found safe havens for their wealth. So, if we don't get a neo-nuremberg trial, I have little doubt their money will be safe somewhere. Even if they do, the places that stashed it will just enrich themselves with it.
absolutely and he can also warn his 1% friends about what tarrifs changes are gunna happen next so they can profit.