I heard the big banks were trying something similar shortly before the '08 crash. And the Enron/Worldcomm crew right before 9/11.

Certainly possible they've got an exit strategy lined up. But the problem is that they're always just a little too greedy and too high on their own supply. During the '14 mini-recession, reinflating the bubble economy was a bipartisan goal. After the '20 COVID crash, there was broad consensus in cranking open the money hose and flooding the economy with cheap cash. '08, '14, and '20 set a big historical precedent for the "We'll never let you fail" policies of the federal government. And so we've diluted a lot of the short term pain of economic contraction into the longer term pains of currency inflation.

The enormous devastation to real physical capital all across these Mid-Eastern theocracies, combined with the socio-economic pressures of Climate Change induced heat waves, can and will push certain regions of the globe to a breaking point. At some point, you just don't have anything to spend all those excess dollars on.