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Cryptocurrency News Articles

The Dangers of an Oligarchy

May 10, 2025 at 05:19 pm

Not long ago I wrote about the dangers of an oligarchy, which is a government run by and for the wealthy.

The Dangers of an Oligarchy

Not long ago I wrote about the dangers of an oligarchy, which is a government run by and for the wealthy. The dangers are found in various forms of corruption. Corruption is the great temptation of people with power.

The Founding Fathers gave us a democracy, which is especially equipped to prevent corruption through free speech, free press, and free assembly followed by election of those found to be non-corrupt and able leaders.

Blatant and crass corruption began appearing very soon in Trump’s current presidency and it is important to make it known. Trump is offering a White House tour and private dinner to the top 220 investors in his personal $TRUMP meme coin. He launched the coin on Jan. 17, three days before his inauguration. The price of the coin initially spiked to $74, but dropped to only $8 the beginning of April. However, the value went back up upon news that the biggest $TRUMP holders get a dinner with the president of the United States.

This mind-boggling corruption tells the world that access to the president is available to anyone who wants to line his pockets. During his campaign for the presidency, Trump offered oil and gas executives to cut government regulations in exchange for $1 billion. These are examples of how power, especially the power of the head of the government, can be a means of making money.

Corruption has its effect on those least able to help themselves. In order to save money so that he can cut costly regulations on the wealthy, Trump has removed all support for USAID, which prevents poor children from starving and helps numerous people with serious health problems. Trump funding cuts are even threatening Meals on Wheels, a lifeline for many seniors.

The planned cuts to Medicaid will take away health care from millions of low-income people. About 60% of nursing home residents are covered by Medicaid, and the GOP’s planned cuts will shut down many rural hospitals and clinics. Trump wants to eliminate FEMA, which was very important in aiding the recovery from Tropical Storm Helene here in Western North Carolina and will be important in aiding future areas bound to be hit by hurricanes.

Trump has recently shut down Head Start programs, which provide early education assistance and food for many children of low-income families, along with school lunches. All that has been said shows that corruption in the government that gives special favors and access and privileges to the rich has practical effects. These include reducing aid to those in society who need special help so they can make use of opportunities to maintain their health and obtain the integration that will enable them to rise from poverty.

Because power and wealth so often bring corruption and corruption brings suffering to many, especially those least able to help themselves, our democracy is heavily dependent on the freedom of individuals and organizations to investigate and publicize the corruption they uncover.

The press and academic institutions must have freedom to find and publicize the corruption that those committing acts of corruption inevitably seek to hide. We already see the attempts of Trump to control the press and academia in their important work to publicize the truth. A major expression of opposition has already appeared in the numerous large protests to both Trump and his “first buddy” Elon Musk that are seen across America. However, individuals must also be brave to stand against both corruption and the attempts to silence exposure of corruption that people may not see.

The rise of authoritarianism in Trump’s presidency and its followers in the Republican Party is felt in the various attempts to extend control over others. It can even be felt in the supposed machoism and “tough man” expressions against those they call “radical left liberals.” The “party of fiscal responsibility” and “national security” has lost the empathy for suffering people that is necessary in a good government. Cruelty became a political strategy. The necessary strategy for Americans is elevation of the truth through the freedoms of speech, press, assembly, and in academia. In addition to making money, the corrupt seek control of the truth that exposes them.

The Rev. Robert L. Montgomery, Ph.D., lives in Black Mountain.

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Other articles published on May 10, 2025