The Grift Destroying America

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“Revolutions are the locomotives of history,” Karl Marx wrote. He was wrong about many things but not about this: In modern times, every major revolutionary movement has sought to change not just the politics of a single country but the international system itself. Napoleon marched the French Revolution across Europe. Lenin and Trotsky believed that their Bolshevik Revolution would succeed only when the Soviet Union was surrounded by other Communist states. Ayatollah Khomeini and his successors built proxy movements to spread their ideology across the Middle East.

The clan of predators currently in charge of the U.S. federal government is no different. Wrongly described as “isolationists,” many of its true believers don’t think of themselves as ordinary Republicans who won an election and will temporarily hold power until the next election. Nor are they mere appendages of Trump. They believe they represent something much greater: the vanguard of a movement that will alter not just America, but the world.

This revolution has special resonance in the democratic world that came into being after 1945, a world based not exclusively on law, but on a set of mostly self-imposed restraints. Inside this sphere, American power was largely derived from alliances that it refrained from exploiting. Long-term relationships were held to be valuable, because you never knew when you might need friends. U.S. politicians did not execute American foreign policy, or indeed domestic policy, in order to make money for themselves or children while they were still in office.

This world is fast disappearing, replaced by one in which ideologues inside the U.S. administration promote far-right parties who share their definition of “Western civilization” - and their dislike of independent courts, journalism and the rule of law - as well as foreign politicians willing to undermine the rule of law on behalf of American companies. Following the president’s lead, actors inside and outside the administration are seizing the revolutionary moment not to produce long-term stability or American prosperity, but to make money for themselves.

Most Americans probably don’t want to encourage the break-up of Canada, to pursue the occupation of Greenland by stealth, or to undermine democratically elected governments in Europe. But those are all projects very important to people in and around the Trump administration:

These include executives from the oil-and-gas, cryptocurrency, and rare-earth-mining industries, and above all big tech companies. Their motivations differ from those of the ideologues, but they share the belief that only power matters, and that only superior humans—richer, more intelligent, usually male and white—should have it. “We live in a world in which you can talk all you want about international niceties and everything else,” White House Deputy Chief of Staff Stephen Miller told CNN’s Jake Tapper in January, “but we live in a world, in the real world, Jake, that is governed by strength, that is governed by force, that is governed by power. These are the iron laws of the world that have existed since the beginning of time.” Miller’s words surely appealed to the business leaders who are delighted to see the tools of American government and diplomacy being redeployed, not to build a world that’s safe for democracy, or even safe for Americans, but to create a world that’s profitable for them.

Many of the unconventional figures who now act in the name of the U.S. are already working to make this dream real. In January, Steve Witkoff, the real-estate dealer turned U.S. special envoy, told a roomful of European presidents and prime ministers gathered in Paris to discuss support for Ukraine that he was already negotiating energy and mineral deals for American companies with Russia, to be implemented after the war. This surprised many of the meeting’s attendees, whose main concern was bringing peace to Ukraine. (A White House spokesperson denied that Witkoff made this statement.) Witkoff also specifically mentioned the role that the U.S. investment company BlackRock could play in the reconstruction of Ukraine, an unusual comment for a peace negotiator. But maybe not a surprising one: BlackRock CEO Larry Fink has sat next to Jared Kushner while he negotiated with the Ukrainians, according to The New York Times.

Trump’s Board of Peace, the quasi-governmental organization whose rules read like those of an exclusive golf club—Trump, as chair, has the right to name his successor, select the board, and determine the mission—presents the same dilemma: Is this organization, much of whose funding is not transparent and comes from member states in the Persian Gulf, designed to make peace, or make money? Does it represent the views of America, or of its funders? In the name of rebuilding Gaza, the board, according to The Guardian, has sought to grant itself the power to seize Palestinian land and buildings, perhaps paving the way for American companies to enact the “New Gaza” plan, a redevelopment project proposed by Kushner, a private citizen (and Trump’s son-in-law) who is of course a board member, as well as Witkoff’s negotiating partner on Russia.

Other projects are more narrowly designed to benefit family members and friends of the president. Last year Trump, along with Commerce Secretary Howard Lutnick, helped negotiate access to one of the world’s largest untapped tungsten reserves, in Kazakhstan, for a low-profile American mining company. The New York Times reported that the deal, which is supported by $1.6 billion in federal financing, benefits Trump’s sons, who are partial owners of an investment bank with a stake in the project. Lutnick’s sons oversee another company, Cantor Fitzgerald, involved with the deal. (Trump’s sons have said that they had no role in shaping the details of the deal. A spokesperson for Cantor Fitzgerald told the Times that the company’s executives were not involved in discussions of government funding.) But this is only one example: Trump’s children are also negotiating private business deals in the Middle East, Europe, and Asia, where local leaders have a clear interest in impressing their father. According to The Washington Post, Trump’s sons have also invested in numerous defense-tech companies that have received Pentagon contracts or other federal funding. “There are no conflicts of interest,” a White House spokesperson told the Post when asked about the report.

According to the Times, Trump himself earned an unprecedented $2.2 billion in the first year of his second term, much of it from cryptocurrency projects. But he also enjoys exercising power over other people, and uses the tools of government to do that. His tariffs give him financial and personal leverage over foreign leaders. His invasion of Venezuela gave him an apparent victory over an old enemy, but also opaque control of Venezuela’s oil, which he has bragged about repeatedly. His use of unconventional envoys helps him manage these various interests, many of which would have in the past been considered immoral or possibly illegal. Fiona Hill, a civil servant on the National Security Council during Trump’s first term, told me that even then, the president was surrounded by people who were “quasi-thinking that they were representing American interests, but they were also representing their own.” He still is.

Of course this dramatic change is producing a reaction. I’ve been hearing a lot about that too:

Outside the democratic world, where kleptocracy has long been the norm, no special changes are necessary to accommodate the new American regime. Pragmatism reigns: If American-government decisions are now for sale, then many will eagerly buy them. The Qataris did not give Trump a $400 million jumbo jet merely out of friendship. The Saudi public-investment fund did not commit $2 billion to Jared Kushner’s private-equity fund simply as a gesture of goodwill. And Albanian Prime Minister Edi Rama did not offer Kushner and Ivanka Trump a piece of the country’s environmentally protected coastline to build a luxury resort because he admires their design sense.

Sometimes, these kinds of contributions appear aimed at achieving very specific results. Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Emirati royal family, purchased a 49 percent stake in World Liberty Financial, the Trump family’s cryptocurrency venture, for $500 million. A few months later, the Trump administration agreed to let the UAE buy high-tech chips whose export the Biden administration had restricted.

Most governments in the old democratic world cannot compete in this race. Europeans, Canadians, Australians, and others can’t pay off the American president by investing in his children’s companies, because that would be illegal. Nor are they finding it easy to adjust to the new world of quasi-official, quasi-private diplomacy.

Instead they are beginning to look elsewhere for contacts, for technology, for trade. No one previously imagined that Canada would find it necessary to sign a defense pact with the EU, let alone to conduct defense-tech negotiations with Australia; it has now done both. The EU has just arranged a free-trade agreement with India, something that few people were interested in completing a few years ago, and another with Australia. In the first half of 2026, no fewer than 26 world leaders visited China, including the British, Spanish, German, and Canadian prime ministers. The French government is slowly removing Windows, Microsoft Teams, and Zoom from its computers, replacing them with open-source software or French-made alternatives. Some German regional governments, as well as the Danish and Dutch governments, are on a similar mission, as are some European banks and universities.

These changes are meant to be permanent. After all, even if a Democrat wins the White House in 2028, the companies empowered by federal money and the ideologues who have taken over institutions will continue to influence Congress and voters. Now that Trump has shown that it can be done, future presidents might also benefit from kleptocratic practices. “We cannot leave the security of Europe in the hands of voters in Wisconsin every four years,” France’s Europe minister has said

Anne Applebaum
anneapplebaum.substack.com - Empire of grift

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