If central bankers caused worldwide depression...

So, I'm just curious as to how exactly we would all be effected if the world central bankers decided to cause a massive global depression. Would everyone who has a loan out on something, such as a car or house, lose it to their lenders? And would the lender lose it to the Federal Reserve? And would the Federal Reserve lose it to whoever is above them? And if these few then owned such a vast amount of property, would they then be able to take over the government or something?

That's the story I'm getting from people, but it seems like that would be too simple. I mean, if at the drop of a hat these "elites" could own so much, why does nobody really worry about it? I'm finding it hard to grasp all this and could use somebody's "expert" opinion. I don't necessarily want to talk about the "whether-it's going-to-happen" of this theory. I just want to know IF it did happen, what would be the effect on me and the rest of us average Americans with financed cars and mortgages and jobs or college?