It is thought this character design was based off the Moloch deity worshiped by ancient Sumerians and other Near Eastern groups. Often involved in child sacrifice, it was the patron deity to ruling elites, and is often implicated in conspiracy theories revolving around The Bohemian Grove in Northern California.
In 2015 Wikileaks released a cable from then U.S Secretary of State Hillary Rodham Clinton where she says
"With fingers crossed, the old rabbit's foot out of the box in the attic, I will be sacrificing a chicken in the backyard to Moloch . . ."