One example of this process, confusingly, might even be the United States in the 1920s, as Marriner Eccles (the brilliant Federal Reserve chairman under then - president Franklin D. Roosevelt) explained endlessly to an uncomprehending elite: if all the chips at the
poker table are held by the
same few players, the only way the rest can keep playing with them is to borrow chips, even though in the end they will not be able to repay the loans.