Nathan has posted this passage before - and I've pointed out that Bakunin had a very specific "privileged minority" in mind - "the parasitic Jewish nation" - who he thought Marx wanted to rule over the great masses of the people. Here's Bakunin, 1871. https://connexions.org/RedMenace/Docs/RM4-BakuninonMarxRothschild.htm

https://twitter.com/peterjgowan/status/1296503097989177346