To add a point to some of the other posts here. The oligarchy cannot afford to allow a default. It would drastically impact their power. People like to say that if the US falls the rich will just jump ship but the problem is, they are running out of places to jump too and any place left will have less of a military to defend them thanks in part to US imperialism. The US empire will cannibalize it’s vassals first, which we are already seeing. Where will the rich run to after that? As China grows in strength more nations join their influence. So with growing communism on one side, a decaying empire on the other, their only play is to retreat to the center and/or try to make one last break for dominance by taking down China. If/when they fail at taking out China their last efforts will be controlling the ever crumbling US via fascism. The US is their last refuge in light of growing global communism. It may be decades off yes, but as it grows their safe havens will shrink more and more. Private islands, tax havens, etc., are only safe if you have a big brother military to defend them for you.
We don’t know where these places are, but plenty of people who have a vested interest in taking these billionaires out most certainly do know. Not just state actors, either; billionaires work with cartels and other forms of organized crime, and these people can turn on you at the drop of a hat.
State protection is not just to save billionaires from the relatively far-off threat of revolution. These oligarchs have plenty of powerful enemies in the here and now, not to mention “friends” who will turn on them at the first advantageous opportunity.
To add a point to some of the other posts here. The oligarchy cannot afford to allow a default. It would drastically impact their power. People like to say that if the US falls the rich will just jump ship but the problem is, they are running out of places to jump too and any place left will have less of a military to defend them thanks in part to US imperialism. The US empire will cannibalize it’s vassals first, which we are already seeing. Where will the rich run to after that? As China grows in strength more nations join their influence. So with growing communism on one side, a decaying empire on the other, their only play is to retreat to the center and/or try to make one last break for dominance by taking down China. If/when they fail at taking out China their last efforts will be controlling the ever crumbling US via fascism. The US is their last refuge in light of growing global communism. It may be decades off yes, but as it grows their safe havens will shrink more and more. Private islands, tax havens, etc., are only safe if you have a big brother military to defend them for you.
They might stumble into it, unwillingly, no?
China? India?
They are also protected by the veil of obscurity. We’ve all heard of those giant villas and private islands, buy do we actually know where those are?
We don’t know where these places are, but plenty of people who have a vested interest in taking these billionaires out most certainly do know. Not just state actors, either; billionaires work with cartels and other forms of organized crime, and these people can turn on you at the drop of a hat.
State protection is not just to save billionaires from the relatively far-off threat of revolution. These oligarchs have plenty of powerful enemies in the here and now, not to mention “friends” who will turn on them at the first advantageous opportunity.