squattocracy

Noun

 * 1)  Wealthy landowners (squatters) considered as a class.
 * 2) * 1862, Clara Aspinall, Three Years in Melbourne, 2010, Forgotten Books, |%22squattocracies%22+-intitle:%22%22+-inauthor:%22%22&source=bl&ots=Bmyynu0pgo&sig=t-ls0ziO2doPuWlOcHvmRE1vYCo&hl=en&sa=X&ei=6ARjUOL-L4WQiAfG3IGwDA&redir_esc=y#v=onepage&q=%22squattocracy%22|%22squattocracies%22%20-intitle%3A%22%22%20-inauthor%3A%22%22&f=false page 235,
 * Most of the Squattocracy are members of “The Club,” and therefore know who are the chief agreeable idlers (I mean gentlemen who are not oppressed with business) to whom to introduce a stranger.

Usage notes
Used to refer to the political and social power of squatters who had become rich exploiting illegally occupied Crown land.