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Nopec stands for Gold-Hausse

Saudi Arabia's princes are pissed off. If they are fired against Opec, which is dominated by them, they lose influence. This could damage the US dollar and bring gold to the fore.

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Nopec could represent a turning point in the global oil market. A US law has been drafted under this term to make the cartel agreements in the Opec group, the oil-exporting states, punishable. The law hasn't been passed yet. Whether it even comes to that is still in the stars. Saudi Arabia is doing everything it can to prevent Nopec.

If it was a question of German car manufacturers or Chinese mobile phone producers, price and quantity agreements would immediately be subject to high penalties, and these would also be implemented - for the benefit of US citizens...or better for the benefit of the US state. This is not so easy with oil. Saudi Arabia has weight - and a joker in its hand: the US dollar. So far, the Kingdom has settled its oil trade with foreign countries in US dollars. Saudi Aramco, the state-owned oil company, exports oil for around 356 billion dollars a year. Therefore, historically, the bulk of oil trading is in dollars.

But now the Kingdom has declared that the Nopec Act, which would virtually dissolve the oil cartel (Opec), would come into effect if the oil bills were no longer issued in US dollars. That would be a severe blow to the status of the world's number one currency. In addition, Saudi Arabia would probably liquidate a large part of its investments in the USA, currently around one trillion US dollars in equivalent value, as well as at least parts of its assets held in US bonds, currently around 160 billion dollars.

So there could be a fall in the dollar in the case of Nopec. But even if the USA does not dare to oppose the oil power of Opec and thus Saudi Arabia, the dollar is suffering more and more damage. For it is becoming apparent worldwide how vulnerable the world's leading currency has become. A further and possibly stronger reallocation of currency reserves worldwide from the dollar to gold could, indeed should, be the consequence. This should benefit the gold price in the medium to long term. Which in turn should support the shares of companies with gold projects. Investors could rely on it as portfolio diversification. Examples are Caledonia Mining and Cardinal Resources.

Caledonia Mining - https://www.commodity-tv.net/c/search_adv/?v=298787 - owns the Blanket gold mine in Zimbabwe, produces highly profitably and pays dividends. Production is expected to increase to 80,000 ounces of gold per year by 2022.

Cardinal Resources - https://www.commodity-tv.net/c/search_adv/?v=298772 - is also active in Africa, but in Ghana. The Company does not yet produce but owns the prospective Bolgatanga and Subranum gold projects located in granite greenstone belts in northeastern and southwestern Ghana, respectively.

Current company information and press releases from Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp.html).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the English version of these messages applies.

Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/ 

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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