Simon Shares

• Transaction Capital (JSE code: TCP) results where pretty much as expected. Management have essentially thrown the kitchen sink at everything. H2 will be tough but likely a little better. FY24 a clean slate. But market does not agree with me.
  • Nutun doing good
  • WeBuyCars under pressure, no surprise, consumer cracking
  • SA Taxi real ugly, but as detailed in trading update

• US unemployment 3.4%. April CPI 4.9%.

The end of the US$

Bretton Woods essentially created teh US$ as a reserve currency

Now all commodities trade in US$

The end of the US$ is as old as time, really kicked off with the advent of the Euro in 1999.

But who take over?

• China, no?
• BRICS, that’s only China.
• Euro, but they don’t want a strong Euro and the world doesn't want the Euro either.

That said, the US$ will lose influence over time. It has been and will continue to do so. One day it may well be over, but we're a very long way from that.