With Reagan in office, the hard-core ideological capitalists running the White House used American might to leverage a global policy revolution along Hooverite lines. By shifting the balance of class power everywhere toward local elites, they triggered a virtuous cycle of financial growth, analogous to the one that drove domestic asset prices up. Overseas capitalists had to invest their profits, and since they were subject to the same global-historical pressures as American capitalists, their money tended toward the same financial sinks, a disproportionate number of which were headquartered in the United States. Instead of supporting allies with Marshall Plan funds and secret war-gold stashes, the United States and U.S.-led institutions offered these countries large loans, which could be paid by privatizing public assets and even forgiven in exchange for Hooverite reforms. Undemocratic leaders had plenty to gain from the loans (which supported extravagant lifestyles and loyalist coteries), the privatization (which offered opportunities for bribes and self-dealing), and the reforms themselves (which shifted the economic surplus in their favor). They could also afford plenty of American weapons, which helped make it possible for the regimes to protect themselves by attacking their own working classes. As capital concentrated in fewer hands, it grew easier to get everyone on this same page, a page later named the Washington Consensus.