I think the substack article linked here [0] is pretty good at addressing what you need to know.

It used to be that money - capital - was used for value creation like a better product or service or some public good in the commons. Now the most crucial use of capital is to generate (further) wealth for those already wealthy. And since "conventional wisdom" of the economics kind blames higher wages as an impetus for inflation, "hurting" those wage earners is the key via higher rates to reign in said inflation. But real wages are and have been falling. Thus, because the economy is biased towards enabling and sustaining the making of money with money, in other words continuing to generate and increase wealth for the wealthy at the expense of others, the system will continue to reward the needs and wants of the wealthy.

Just my take on things. I'm learning as we go.

[0] https://news.ycombinator.com/item?id=35260210

Great observation and interesting timing. Your post was right after this article was posted. https://news.ycombinator.com/item?id=35260210 https://annpettifor.substack.com/p/banks-as-collateral-damag... The author actually touches on your point of supply side commodity speculation causing inflation instead of wage increases. She does an adequate job of putting into words the flip side of the coin where by raising interest rates and taming inflation it puts a real deflationary effect on wages. This is to satisfy a small group of creditors over the larger group of debtors. Its an interesting read and leaves a lot unexplained but I think captures the heart of the matter.