Another facet of the system is that, since the elites are constantly issuing money, debt and financial assets to benefit themselves, they need real economic growth to provide demand for these assets, or the system will eventually implode from lack of trust in the assets. So, led by the elites, everyone in the economy is incentivized to pursue profit at all cost, and here you see the roots of pollution, social alienation, addiction and psychological problems. (Now I'm not claiming I or anyone knows or should dictate the proper work/life balance for anyone -- I'm only saying the system creates a real bias away from what people would normally do, in favor of making money.)
I don't understand your infatuation with the notion that so-called elites want to benefit themselves. Everybody wants to benefit himself. Or do you think the so-called elites have a monopoly on the desire for profit?
One of the oldest practices in business is to use other people's money to invest and generate profits. Is that a conspiracy? Is that practice limited to so-called elites?
You understand that the masses demand that politicians create jobs, right? How would politicians create jobs sooner than later without relying on debt?
If it weren't for all that debt fueling demand and stimulating economic growth, billions of people in developing countries would be in even more impoverished conditions. There wouldn't be remotely enough job growth to match population growth.
Politicians cooperate with the so-called elites that peddle debt because the masses demand it, one way or another. Debt provides higher standards of living that the masses demand. If there is a conspiracy, the masses are involved enthusiastically in it.