On the Political Nature of “Market domination” in the energy sector (the 2008 Crisis)

This is the second article in the series. The first was devoted to the recombination of the world monetary model (Bretton Woods) 1971–1973. The trigger point for the recombination was the Nixon Shock (rejection of the gold fixing of the dollar). There was a replacement of the world equivalent of value (gold for oil), which remained “unnoticed” (not noticed) for a long time. 2008 cashed out the replacement. 1971 and 2008 cannot be considered independently of each other. This is not about cyclic failures (they are linear), but about the basic (cause of failures) flaw in the model. The reason is not a situational shortage of resources for growth, but the discriminatory nature of law as such, international law (regulations for disposing of growth effects based on parity of forces) in particular. 1971 and 2008 — déjà vu matrix, where the trigger (a factor that exacerbates a chronic disease) is a unilateral undermining (Nixon Shock and QE) of the regulations that determine the functioning of the world economy (devaluation of the norm). On both occasions the US played va banque. In 1971, the flaw was legalized, a new (G7) international format or “oil consumer cartel” arose. In 2008, it was proposed to institutionalize the flaw, to recognize it as an integral part of the overall model of growth. The proposal did not suit developing countries (primarily Russia and China). The crisis, which began as a financial breakdown, turned into a deep political confrontation.

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