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Danish pension fund divesting US Treasuries

reuters.com

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Re: Danish pension fund divesting US Treasuries

#681

Post by x-complexity »

epistasis wrote: post #370
monero-xmr wrote: post #270

Earlier quoted context omitted.

Single most accurate and astute comment on the entire page. Not everyone can be a net exporter, of course…

Think one step further. When a different currency becomes the reserve currency, the currency rises in value, the holders become far wealthier, get their imports for cheaper, and suddenly they can even subsidize their local industries that rely on exports to the point that it's a smooth transition to more of a consumer economy.

> subsidize their local industries that rely on exports to the point that it's a smooth transition to more of a consumer economy.

There's an implication here that the country *wants* to become a consumer economy, and not remain an export economy.

Furthermore, it relies on the leadership wanting to wind down that production, and not use that subsidy to further bolster their industrial capacity & crush global prices, in an attempt to wash out the others & only have their country be the sole remaining place capable of meeting demand at that subsidized point.

Re: Danish pension fund divesting US Treasuries

#682

Post by xwolfi »

coolspot wrote: post #494
sekai wrote: post #131

Earlier quoted context omitted.

> The EU can't mend ties with China without giving up on Ukraine as China's FM Wang Yi has stated [0] At the end of the day China cares more about Europe than Russia. Because that's where the real money is.

> China cares more about Europe than Russia. Because that's where the real money is. “Real money” aka resources are very obviously in Russia, not Europe.

Resources to fuel factories to sell to who ? They don't care about resources if they lose their clients.

Re: Danish pension fund divesting US Treasuries

#683

Post by boothby »

epistasis wrote: post #601
mym1990 wrote: post #571

Earlier quoted context omitted.

If you think the US is going to decline slowly, fade into history and not try to go out with a bang, I guess that is certainly one world view!

What do you think the US is going to do for that bang? How could a bang ever bring the wealth and peace that its prior friendship with allies brought? The US doesn't have the cards to play, because the current US Government doesn't even understand where the wealth has come from. That US Government has risen to power by tricking the public into thinking that the very things that make the US wealthy and powerful are ac…

> How could a bang ever bring the wealth and peace that its prior friendship with allies brought?

It won't.

Re: Danish pension fund divesting US Treasuries

#684

Post by estimator7292 »

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…

Shocking how the US has pushed all global allies into putting more trust in China. And by shocking I mean the thing where everyone saw it come screaming a mile off.

Re: Danish pension fund divesting US Treasuries

#685

Post by xwolfi »

kwanbix wrote: post #232
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 crazy to see how Trump has made the U.S. look like a worse partner than China, or at least just as bad.

Way worse. I live in China but I'm French and I was saying to my gf yday night, to my own surprise: "China has never humiliated, insulted or threatened in such a gross, childish, pointless way. We might be better off supporting a Taiwan reintegration and abandon Ukraine to Russia for an Eurasian alliance, than let the US talk to us like that - even frigging Putin never crossed the line to mockery as often as Trump and his goons".

Maybe I overreact, but what a change of opinion from my grandad who saw the US land in Normandy... This credit we gave them is running out and I'd rather have a cold calculating dictator that tells me the population is too stupid to vote (common feeling in China) than an unstable mercurial dictator whining he didn't get a pretty prize.

And if Trump wants to talk about boats 500 years ago, how long does he think we've been in friendly contact with Russia and China ?

Re: Danish pension fund divesting US Treasuries

#686

Post by alephnerd »

xwolfi wrote: post #682
coolspot wrote: post #494

Earlier quoted context omitted.

> China cares more about Europe than Russia. Because that's where the real money is. “Real money” aka resources are very obviously in Russia, not Europe.

Resources to fuel factories to sell to who ? They don't care about resources if they lose their clients.

EU-China trade only represents around 13% of total trade between China and partners, and is easily substitutable by China by a mix of ASEAN (most of whom have an FTA or GATT FTA with the EU), Japan, South Korea, Taiwan, Australia, Russia (RU-China trade has a higher dollar value than DE-CN trade, which itself is 2x FR-CN or NL-CN trade), or even India.

As long as (eg.) France continues to support Dassault, Safran, and Thales - all of whom continue to support Indian [0][1] and Vietnamese [2][3] military modernization against Chinese aggression, CN-EU ties will never recover [4].

And that's just the tip of the iceberg depending on EU member state. Germany [5][6], Netherlands [6][7], and other individual EU states have similarly crossed Chinese redlines over the past year.

The DGSI is also actively prosecuting French nationals with ties to PLA adjacent institutions (public, private, and SoEs) for potential espionage risks [8]. Selon vos relations, vous pourriez également figurer sur cette liste, surtout après ce qui s'est passé en Nouvelle-Calédonie [9].

[0] - https://www.capital.fr/entreprises-marches/rafale-dassault-a...

[1] - https://www.lesechos.fr/industrie-services/air-defense/bombe...

[2] - https://www.intelligenceonline.fr/europe-russie/2023/06/27/a...

[3] - https://www.intelligenceonline.fr/asie-pacifique/2025/12/15/...

[4] - http://www.iis.whu.edu.cn/index.php?id=2986

[5] - https://taz.de/U-Boot-Deal-geplant/!6144706/

[6] - https://www.welt.de/wirtschaft/article247750774/Ruestung-Tai...

[7] - https://www.nu.nl/economie/6372336/china-is-boos-op-nederlan...

[8] - https://www.intelligenceonline.fr/asie-pacifique/2026/01/14/...

[9] - https://www.intelligenceonline.fr/asie-pacifique/2025/02/26/...

Re: Danish pension fund divesting US Treasuries

#687

Post by Nevermark »

bluGill wrote: post #626
epistasis wrote: post #468

Earlier quoted context omitted.

That's definitely going on. There's also something that I've heard called "reactionary centrism:" a feedback loop of people who think that truth lies in the middle between the two extremes, and also that assumes that no mainstream position in a political faction can itself be the "extreme." And that if they find that one political faction is doing something that seems extreme to them, that in the interests of fairnes…

Right vs left makes the assumption there are two sides / options. I have long thought that the 'left' was too extreem socialist - that doesn't mean I think current 'right' is any better.

The far right and left are always going to be homes for extremists, by definition.

And also practicality. Extreme people are highly motivated to push their agenda, and that requires a party. They adapt and find a way to participate, one way or another. Often simply by ramping up awareness of the opponent party's inevitable extremes.

The real question is: how do the moderates in a party operate, and are they currently tolerated and reasonably well represented within the party.

(I am using extreme here to mean a lack of operating in objective reality, or a strong will to divide who "matters" from who doesn't. Usually they go together.)

Re: Danish pension fund divesting US Treasuries

#688

Post by kevin_thibedeau »

xorcist wrote: post #410
kyboren wrote: post #305

Earlier quoted context omitted.

NATO came into being to deal with the USSR, which was the preeminent threat to all NATO members. The US wasn't expected just to come save Europe; European states had real military power and the will to bring it to bear against the US's main adversary. In a conflict with the USSR, the US could rely on Europe to fight with them. Very valuable. Today, US policymakers see China as the main adversary. But European states…

> stop relying on America to fight the Russians for them, That's a very uncharitable take. Europe relies on NATO to fight the Russians. Of course it does. There is no alternative, and the US would never allow other credible alliances to form. Because why would they? It's certainly not in their interest. It's good that Europe spends more in security, and it's good that Europe seems to be serious about Ukraine. However…

Until recently, most NATO members were not meeting their commitment to spending 2% minimum GDP on defense. They were demonstrably externalizing their defense costs onto the US.

Re: Danish pension fund divesting US Treasuries

#689

Post by pramsey »

renjimen wrote: post #610
epolanski wrote: post #109

I personally have dumped every single US security I held in the last 2 years, US bonds have been the latest to go in the last week. Mind you I'm a small investor (my portfolio is 100k-ish euros). I'm still exposed to US securities through ETFs though, as I have 3 different ones holding US companies, but that I ain't gonna sell them. But for new capital I may as well provide it to others.

I'm not dumping US, but since Trump got back into power, all new investment goes into ex-US funds to help balance what was previously a portfolio over-reliant on US stocks. I'm based in Canada.

Same. Changing out VXC for VIU.

Re: Danish pension fund divesting US Treasuries

#690

Post by itake »

traceroute66 wrote: post #59
adrr wrote: post #2

What happens when USD stops becoming the the reserve currency for the world? And who takes its place?

The USD has already been in decline as a reserve currency. The only thing that is happening is the decline is accelerating. It is not necessarily a question of "takes its place", but more about being more serious about diversification. Or to paraphrase the old IBM saying "nobody got fired for buying USD" is no longer the case. In terms of options you have JPY, EUR and CNY as the big-three and maybe tag AUD on top.

Why AUD and not SGD?

I guess AUD has higher GDP (but much lower GDP per capita and worse forex rate to the us dollar)

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