When I hear politicians say the words "democracy" I substitute it with the word "kleptocracy," and it whatever they are talking about makes more sense. https://en.m.wikipedia.org/wiki/Kleptocracy

Kleptocracy is different from plutocracy (rule by the richest) and oligarchy (rule by a small elite). In a kleptocracy, corrupt politicians enrich themselves secretly outside the rule of law, through kickbacks, bribes, and special favors, or they simply direct state funds to themselves and their associates. Also, kleptocrats often export much of their profits to foreign nations in anticipation of losing power