As you can probably tell by my username, I'm like, the most qualified to answer this.
The Anarchist perk deck is basically reverse Grinder. You trade 50% of your health in for 130% more armor (at the 7th card, anyway.) Every 1.5 seconds, whenever you deal damage, you regenerate your armor. When you don't deal damage, you very slowly regenerate armor, in short charges. The charges can take between 2 seconds (if using the two piece suit) or 17 seconds (if using the ICTV.) For just an idea of how much armor you gain, with just the two piece suit and a few Enforcer skills, I managed to get my total armor up to 403.7 points. With the ICTV, it gets up to about 440-480 armor points. Keep in mind that you trade in 50% of health for it. If you would like, I can also provide a specific build that served me very well, even on One Down (when that was still the actual difficulty.)