Nordic Pension Funds Dump Billions in U.S. Treasuries

Can Europe weaponize Treasury holdings to deter U.S. overreach or is coordinated divestment impossible?

Published 18 hours ago

Nordic Pension Funds Dump Billions in U.S. Treasuries

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Above: The sun sets behind the Moravian Brethren Mission House in Nuuk, Greenland, on Jan. 21. Image credit: Jonathan Nackstrand/AFP/Getty Images

The Spin

Anti-Trump narrative

Europe must wield its ultimate deterrent: $2.84 trillion in U.S. Treasuries. With America drowning in tens of trillions in debt, suffocating under trillion-dollar interest payments, and Trump desperately demanding rate cuts while his own tariffs fuel inflation, coordinated European divestment isn't merely an option — it's the weapon that could extinguish Washington's delusional imperial ambitions.

Financial Times X

Narrative B

The notion that Europe can weaponize Treasury holdings is pure fantasy since private entities own these assets, not governments, making coordinated sales impossible. Massive divestment would trigger mutual destruction through euro appreciation and European recession, which is why even China never followed through on similar threats and gradually reduced holdings instead.

The Chosun Daily New York Post