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Do it like the Fed: ECB raises key interest rates, creates money circulation loop for big banks and corporations

 
Inside the storm of inflation, the European Central Bank suddenly thought that it would be a good idea to raise key interest rates for the first time in 11 years. 

According to Deutsche Welle (DW) [emphasis added]:
 
                    The ECB raised its negative benchmark deposit rate by 50 basis points from minus 0.5% to 0%, lifting the bank's deposit facility out of negative territory for the first time in eight years. The announcement came as a surprise as the bank had initially hinted that it would hike the rate by 25 basis points only
 
It's remarkable that DW's analyst, Kristie Pladson, stated that "... this is a historic decision they've taken now - first hike in eleven years, so, on that level, it's a little bit unclear exactly what effect it's going to have ..."
 
However, one thing ECB's move will surely affect, is money access for most of the Europeans. As Pladson says: 

                    ... what we do know is that this means that borrowing is going to get more expensive for banks. So, banks that want to take a loan out from the European Central Bank, it's going to cost them more, they're going to pass those costs on you, on me, anyone looking to get a loan for a house, a loan for a car, businesses, as well, looking to take out loans. Those interest rates make it more expensive for them right now.
 

In other words, it is quite uncertain that ECB's move will manage to restrain soaring prices, but it is certain that it will make cheap money access almost impossible for consumers and small-medium businesses. And all this, at a time where the working class is crushed by everyday raises in the prices of basic goods and services. 
 
Most of the new money will be circulated among big banks and corporations. And as we saw in previous article, this loop, combined with stagnated wages, (or minor wage increases well below inflation rate), will make sure that the value of money will remain high for the benefit of the elites.

At this point, let us remind you ECB's central role in the establishment of the European Financial Dictatorship:
 
In 2010, Ireland experienced Frankfurt's political blackmail. On the 18th of November, where there was a governing council of the ECB in Frankfurt. The governor of the Irish central bank who sat on the governing council, called "Morning Ireland" which is the most important radio program in Ireland, to say that Ireland will need what he called a loan. He didn't warn the government about it and this created a massive panic.
 
Then, the next day, there was a letter written from the then president of ECB, Jean-Claude Trichet, to Brian Lenihan, the minister of finance at the time, saying that 'if you don't apply the so-called bailout program, by this opening of the markets the following Monday, we're going to cut off access to Emergency Liquidity Assistance (ELA)', which obviously would have collapsed the Irish banking system.

The ECB used the liquidity weapon in order to impose its terms on the Irish government: austerity, privatizations, labor market deregulation. The ECB enforces fiscal policy, which is not what a central bank should do. And it does this by denying ELA, or, by providing liquidity, or not providing liquidity. The ECB had basically taken over the government. In Ireland, they forced the government to bailout the banks at huge cost to the Irish population. They blackmailed the country with shutting its banks.

At the beginning of the crisis in Europe, which came as a shock wave from the United States, the ECB tested its strength and power on Ireland through this silent coup.

Italy and Greece became ECB's next targets. Well, they are now the most heavily indebted countries in the eurozone and in much worse situation than in 2010.

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