Oligarchy is a form of government where political power effectively rests with a small, elite segment of society (whether distinguished by wealth, family or military prowess). The word oligarchy is from the Greek words for “few” and “rule”.
Oligarchs keep their riches out of state coffers through the ‘Wealth Defense Industry.’ This is the cadre of professionals hired to lobby government and advise ways of hiding wealth, often through keeping it in tax havens.
The Wealth Defense Industry represents an army of lawyers, accounting firms, and high paid lobbyists, to keep records.
Russia has been labeled an oligarchy because of the power of certain individuals. Other countries like Venezuela uses dictatorship to strengthen the power to a group of “rich” who are using this to make investments outside of the country.
As today, the EU and USA will track down the Russians Oligarchs and freeze the assets as a result of the military aggression in Ucrania.
02-03-22
Windmush/Curt