ETCD Backup script Fails with the error 'cannot create directory './assets': Operation not permitted'

Issue

• ETCD Backup script fails with cannot create directory './assets': Operation not permitted

$ oc debug node/master-0
Starting pod/master-0-debug ...
To use host binaries, run `chroot /host`
Pod IP: 10.0.0.1
If you don't see a command prompt, try pressing enter.
sh-4.2# chroot /host
sh-4.4# /usr/local/bin/etcd-snapshot-backup.sh /home/core/assets/backup
Creating asset directory ./assets
/usr/bin/mkdir: cannot create directory './assets': Operation not permitted

Removing debug pod ...