The story
First attested in March 2002; formed as procto- (“anus”) + -cracy (“rule”); equivalent to a hypothetical Ancient Greek etymon of the form *πρωκτοκρατία (prōktokratía), from πρωκτός (prōktós, “anus”) + κράτος (krátos, “dominion”, “power”).
Etymology from Wiktionary, CC BY-SA 4.0.