In 2023, [Henry Farrell and Abraham Newman] published an important book called Underground Empire, explaining how, during the War on Terror, GWB (and then Obama) weaponized global payment processing systems (most notably SWIFT) and other boring, technical systems, and then used them to wield enormous power around the world….
Lambert here: [sings] “We’re bringing the war / back home….”
Farrell and Newman’s point isn’t merely that this power was used unwisely or cruelly, but also that the co-opted systems had an actual, useful, important job to do – a job that was only possible if these systems were widely viewed as credibly neutral and apolitical. The book ends with a sobering message about the chaos on the horizon if (when) other countries walk away from these system, leaving infrastructure vacuums in their wake. In their new Lawfare piece, Farrell and Newman imply not just that Musk and Trump are fashioning a powerful weapon out of the nation’s digital infrastructure, but also that this could permanently undermine the vital national systems they’re seizing control over, with no obvious candidates to replace them.
Lambert here: This perspective similar to Tankus’s on payment finality. But i’m sure Palantir can work something out.

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