Danish pension fund divesting US Treasuries • Hacker News Board

Re: Danish pension fund divesting US Treasuries

#181

Post by packetlost » Tue, Jan 20, 2026, 4:19 PM UTC

whimsicalism wrote: post #156

hightrix wrote: post #138

Earlier quoted context omitted.

Do you have any criticisms to the parent comment? As an American, they seem pretty spot on to the current climate. I'd argue we've never been closer to civil war than we are today[0], primarily due to trumps regime invading cities around the country, kidnapping citizens utilizing a bounty program, and killing people in concentration camps. Ediot: [0] - Since the last civil war. I thought that was obvious, but it seem…

[flagged]

I think you misunderstand who participates in a civil war, at least initially. It's not always the citizens, in this case it's the state militia and the federal government. We are dangerously close to that.

I agree that it's silly to say "we're as close as we ever have...", but the rest of GPs point stands. Things are bad, and just because you're not seeing it and are rich enough to not care doesn't mean it's not happening.

Re: Danish pension fund divesting US Treasuries

#182

Post by vld_chk » Tue, Jan 20, 2026, 4:19 PM UTC

afavour wrote: post #42

It's symbolism. But it's important symbolism. Far more notable, I think, is Macron saying this morning that Europe needs more investment from China. Canada signing a deal with China to allow their cars to be sold in the country. It's all a sliding slope until it reaches a breaking point and falls off like a cliff. EDIT: to quote the Canadian PN earlier today: “American hegemony in particular helped provide public goo…

If this is a symbolism, then why 30YR Treasuries are YTH despite FED rate cuts throughout the year?

Re: Danish pension fund divesting US Treasuries

#183

Post by HarHarVeryFunny » Tue, Jan 20, 2026, 4:20 PM UTC

moogly wrote: post #104

afavour wrote: post #42

It's symbolism. But it's important symbolism. Far more notable, I think, is Macron saying this morning that Europe needs more investment from China. Canada signing a deal with China to allow their cars to be sold in the country. It's all a sliding slope until it reaches a breaking point and falls off like a cliff. EDIT: to quote the Canadian PN earlier today: “American hegemony in particular helped provide public goo…

In a "might makes right" world, Europe clearly needs more might, and then it makes sense to improve relations with China; not a lot of options.

The US and France are both nuclear armed, including nuclear armed submarines, which are the ultimate defence deterrent.

It's hard to see any country wanting to get into conventional war with China, regardless of size of army and airforce - even the US is not going to do it unless actually attacked. At the end of the day if China seizes Taiwan (something Trump has made more likely by his seizing of Venezuala, now talking about Greenland, Cuba ..), then the US will just complain, create trade sanctions and/or tarrifs etc.

Re: Danish pension fund divesting US Treasuries

#184

Post by rjzzleep » Tue, Jan 20, 2026, 4:20 PM UTC

alphazard wrote: post #94

afavour wrote: post #42

It's symbolism. But it's important symbolism. Far more notable, I think, is Macron saying this morning that Europe needs more investment from China. Canada signing a deal with China to allow their cars to be sold in the country. It's all a sliding slope until it reaches a breaking point and falls off like a cliff. EDIT: to quote the Canadian PN earlier today: “American hegemony in particular helped provide public goo…

> It's symbolism. It's not. This is where the financial rubber meets the road, actions have consequences, and the rest of the world is looking at the US as increasingly unlikely to pay above inflation on its debts. The people managing the pension funds (if they are acting in good faith) really want to generate yield, and really want to preserve capital for the Danish people. They don't want to symbolically do those t…

The EU threw all its baskets into a war it didn't need to fight, destroyed its energy independence, it's weapons, it's airdefense and huge parts of its air force. I don't think they have a lot of cards to play.

There an interesting analysis on whether the EUs threats on financial markets actually bear any meaning here:

https://x.com/Kathleen_Tyson_/status/2013314168250675456

Edit: March 2022 peace deal that Boris Johnson sabotaged

https://www.nytimes.com/interactive/2024/06/15/world/europe/...

Re: Danish pension fund divesting US Treasuries

#185

Post by toomuchtodo » Tue, Jan 20, 2026, 4:20 PM UTC

drstewart wrote: post #175

toomuchtodo wrote: post #133

Earlier quoted context omitted.

Maybe you'd trust Blackrock's CEO instead? I live in the US and I have rotated away from US equities and treasuries to derisk from volatility of poor governance (both this administration and long term fiscal policy). BlackRock CEO delivers blunt warning on US national debt - https://www.thestreet.com/investing/blackrock-ceo-delivers-b... - January 18th, 2026 The U.S. Deficit Will 'Overwhelm This Country': BlackRock C…

>Fink is still a big believer in the U.S. economy and argues things are looking mostly constructive at this point. He feels the bull story is still intact, but its durability matters a lot more. So do you believe him? Let me guess: you'll pick and choose the parts

I agree with his statement you quote. I believe that the US still has some growth ahead purely out of existing demographics and population, but that due to go forward geopolitics and global trade reconfigurations, more growth will be had internationally than in the US over the next 5-10 years (and this is the same guidance I share with the HNW individuals I advise from geopolitical safety and portfolio strategy perspectives). Where has most growth been in the US recently? The Mag 7, AI, data centers, etc. Will this growth last? No one knows. What happens when it stops? Sadness.

Global markets outperform the U.S. in 2025 - https://www.youtube.com/watch?v=6DERutj8lfY - December 30th, 2025

2026 Outlook: International Stocks and Economy - https://www.schwab.com/learn/story/international-stock-marke... - December 9th, 2025

(not investing advice, I am simply very curious and a degenerate gambler)

Re: Danish pension fund divesting US Treasuries

#186

Post by throw0101a » Tue, Jan 20, 2026, 4:20 PM UTC

afavour wrote: post #42

It's symbolism. But it's important symbolism. Far more notable, I think, is Macron saying this morning that Europe needs more investment from China. Canada signing a deal with China to allow their cars to be sold in the country. It's all a sliding slope until it reaches a breaking point and falls off like a cliff. EDIT: to quote the Canadian PN earlier today: “American hegemony in particular helped provide public goo…

> It's all a sliding slope until it reaches a breaking point and falls off like a cliff.

"How did you go bankrupt?"

"Two ways. Gradually, then suddenly.”

* https://www.goodreads.com/quotes/102579-how-did-you-go-bankr...

Re: Danish pension fund divesting US Treasuries

#187

Post by moogly » Tue, Jan 20, 2026, 4:20 PM UTC

alephnerd wrote: post #120

moogly wrote: post #104

Earlier quoted context omitted.

In a "might makes right" world, Europe clearly needs more might, and then it makes sense to improve relations with China; not a lot of options.

The EU can't mend ties with China without giving up on Ukraine as China's FM Wang Yi has stated [0] on multiple occasions [1]. Additionally, in the Chinese foreign policy space, the EU is viewed as weak [2], and largely through the lense of the US-China rivalry (which is how the US views the EU as well now). [0] - https://www.scmp.com/news/china/diplomacy/article/3316875/ch... [1] - https://www.reuters.com/world/chin…

Well then us Europeans are fucked regardless I guess.

> Beijing did not want to see a Russian loss in Ukraine because it feared the United States would then shift its whole focus to Beijing

How does this statement make sense though? I don't see the A -> B. The US pretty clearly does not want to see a Russian loss either, and seems more fine with Ukraine losing.

It should depends on how much the US wants Europe?

If the US does not want more of Europe, and Russia wins, the US could let Russia take over Europe -> focus shifts to China.

If the US wants more of Europe, and Russia wins -> focus would be off China.

If the US does not want more of Europe, and Russia loses -> it's mostly whatever, but perhaps focus shifts to China.

If the US wants more of Europe, and Russia loses -> focus would be off China.

Perhaps I'm just really daft.

Re: Danish pension fund divesting US Treasuries

#188

Post by Retric » Tue, Jan 20, 2026, 4:20 PM UTC

epolanski wrote: post #144

mym1990 wrote: post #130

Earlier quoted context omitted.

It will also be a global problem and not just US citizens, as the dollars underpins a vast amount of global wealth and trade.

Of course it would have consequences, but US has had multiple huge waves of inflations and very high interest rates, we've all survived.

The US has never dealt with hyperinflation.

Re: Danish pension fund divesting US Treasuries

#189

Post by PartiallyTyped » Tue, Jan 20, 2026, 4:20 PM UTC

mym1990 wrote: post #145

epistasis wrote: post #81

Earlier quoted context omitted.

When you say "nearly limitless" source of borrowing, the limit is the gain in global wealth. The US has been siphoning off a huge chunk of world wealth by printing dollars to serve as the currency for that wealth. All the people complaining about "US Debt" and $26T of "net investment" or whatever don't realize that this is/was the benefit of the US being stable, strong, and friendly. When the US is unstable, weak, an…

Its baffling that you think the collapse of the USD would have no negative ramifications on the rest of the world...

It will suck, and then it will get better.

Re: Danish pension fund divesting US Treasuries

#190

Post by [deleted] » Tue, Jan 20, 2026, 4:20 PM UTC

adventured wrote: post #136

epistasis wrote: post #81

Earlier quoted context omitted.

When you say "nearly limitless" source of borrowing, the limit is the gain in global wealth. The US has been siphoning off a huge chunk of world wealth by printing dollars to serve as the currency for that wealth. All the people complaining about "US Debt" and $26T of "net investment" or whatever don't realize that this is/was the benefit of the US being stable, strong, and friendly. When the US is unstable, weak, an…

The US is more stable than the powers of Europe (which have constant political upheavals, snap elections that completely remake the political landscape, etc). You're confusing Trump's mouth with how the US political system actually functions. Just because the US changes political direction, that doesn't equate to instability. Its aims are changing, like it or not, good or bad. The US deciding it wants Greenland is no…

[deleted]