Writing by Dr. Dannielle Blumenthal

What started as a niche school of economic thought known as “Anarcho-Capitalism”—a philosophy advocating for the total replacement of the state with private property and free-market competition—has, in certain fringe corners of the internet, gone off the rails.

Antisemitic Anarcho-Capitalist Conspiracy Theory represents a significant departure from the “Non-Aggression Principle” that supposedly defines the movement.

It replaces logic-based critiques of the state with conspiratorial scapegoating.

What Is Anarcho-Capitalism?

At its core, standard Anarcho-Capitalism (or “AnCap”) is a technical argument against the monopoly of the state. Figures like Murray Rothbard argued that every service a government provides, from roads to courts, could be done more efficiently and ethically by private individuals.

Propelling Towards Antisemitism

However, as this movement moved into the Paleolibertarian sphere—an ideology designed to appeal to traditionalist and right-wing populists—the rhetoric shifted.

Instead of legitimately critiquing:

– the mechanism of central banking

– the structure of interventionist foreign policy

…a vocal fringe began to personify these systems as a deliberate plot by Jews.

They don’t directly say this but instead refer to:

– “elites”

– “Rothschilds”

– “central bankers”

– The “New World Order”

– “Zionists”

The social media post below, from an account using Rothbard’s name and likeneness as a profile photo, is a textbook example:

“I’m sure Iranians can’t wait to have a Rothschild central bank, 30% of their women posting on OnlyFans, gambling and pharmaceutical ads shoved in their faces 24/7, drag queen story hour, mRNA vaccines, transgender surgeries for children and glyphosate sprayed on all of their food when the next benevolent US-Israeli backed regime takes over.” – @ Rothbard1776, 2/28/2026 https://x.com/rothbard1776/status/2027844391025467465?s=46

In one post, we get a a litany of populist, conservative grievances—ranging from pharmaceutical ads and mRNA vaccines to “drag queen story hour”—framing them not as organic cultural shifts or market outcomes, but as manifestations of an evil, crawling specifically Jewish encroachment on humanity—in just the same way Hitler labeled Jews a disease on German society.

It lumps yesterday’s US-Israeli necessary intervention into terrorist Iran into the supposed reign of a cabal.

The Moloch Blood Libel

Not only that, but by using the image of Moloch, a Canaanite deity associated with child sacrifice, the post goes even further, into blood libel territory, promoting a centuries-old, false, and dangerous myth used to incite violence against Jewish people.

In this context, the deity Moloch is used as a metaphor for a demonic state that sacrifices the youth and traditional culture for the benefit of a hidden cabal.

What Makes No Sense

First, promoting any sort of traditional culture as an anarcho-capitalist is inherently contradictory. A truly free market inevitably prioritizes consumer demand and profit over the preservation of heritage.
Second, Rothbard himself was Jewish, yet his theories are now frequently co-opted by those who ape him and rely on antisemitic imagery to explain the world’s ills.

Conclusion

By framing global events through an antisemitic framework, AnCap thinkers move away from the goal of individual liberty and toward a worldview defined by paranoia and collective blame.

It serves as a reminder that even the most abstract political theories can be weaponized when they lose their tether to historical reality and human rights and enter the echo chamber of online hate, which frequently rewards extremism of all kinds, including hate, with clicks.

Written with the help of AI.