So it begins.
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@nemeciii It is surprising how, in just one year, the US has gone from being an ally to a threat to Europe, so much so that such a drastic measure as financial warfare is being considered as a possible recourse (and, I hope, as a last resort).
What is clear is that Denmark is already very angry to be doing this. And we are already talking about emotional decisions in the face of constant harassment by an “ally.” This shows that the damage Trump is causing to the confidence and image of the United States will be difficult to repair in the short or medium term.
It must be remembered that the value of a currency not backed by real wealth (the dollar in this case) is more a matter of belief and appearance than reality.
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@ariaflame @nemeciii It is no coincidence that a private company in Denmark has taken the first step.
I would suggest reading a report by Deutsche Bank (also private) that analyzes the possible effects, advantages, and disadvantages of a financial war (using capital as a weapon) in the event of a total escalation with the US.
As I said, it is difficult to quantify trust, but when it is lost, it has brutal effects on perception and decision-making.
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@Huopa It already crumbles since Shrimps first term. Now, as the US have arrived to beign a fascist state, where most inhabitants stay all too indifferent towards their own oppression, I'd expect to degrade the rest of trust from elsewhere in no time. Greenland was really a notable peak, as that affects NATO.
@jrp Of course the first term was already a shock to the trust of US as a geopolitical ally, but the institutions and economy are very strong in US and Trump was not really able to destroy the trust in them. This second round it is clear that trust to US institutions begins to shake a little. Greenland is indeed the notable peak for this phenomenon, but there has been a lot already before this. I am optimist and I think US will survive Trump second term, but things will not be the same anymore.
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So it begins.
Danish pension fund to dump US treasuries "The US is basically not a good credit and long-term the US government finances are not sustainable," says chief investment officer.
Europe holds $8 trillion in USA bonds and equities. This is just the beginning.
@nemeciii They're not the only ones. Black Rock also pulling money outta USA. https://www.youtube.com/watch?v=oTBC6EBHNPY
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@nemeciii I guess it will be a slow and long crumbling of trust in US economy and politics.. in 5 years it will be interesting to see if this has turned out to be true.
@huopa @nemeciii Canadians, who had winter homes in Florida, are selling and going elsewhere. https://www.youtube.com/watch?v=mWKgFE-JyqM
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@nemeciii Getting rid of American digital bondage is also so primordial too. Just yesterday, I removed Windows altogether from my computer.
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@swggrkllr3rd @nemeciii Linux Mint. I have been dual-booting for about 1 year. Yesterday I removed Windows completely.
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@rimu I know.
Deutsche Bank floated an idea to dump it all from every country.
@nemeciii @rimu pooty gave drumpf the Orange One a loan through Deutsche Bank of $400M before his first periode. https://forensicnews.net/trump-deutsche-bank-loans-underwritten-by-russian-state-owned-bank-whistleblower-told-fbi/
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Yes, exactly a run on US treasuries globally is a financial disaster for those that hold treasuries.
Japan, China, US pension funds, banks that hold treasuries.
I am kind of curious how this affects stable coins.
@GhostOnTheHalfShell @mattesilver @nemeciii @cryptadamist Gold are going to take OFF !!
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@mattesilver @GhostOnTheHalfShell @nemeciii @cryptadamist Don't know, but it's high $4,600/tr ounce
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So it begins.
Danish pension fund to dump US treasuries "The US is basically not a good credit and long-term the US government finances are not sustainable," says chief investment officer.
Europe holds $8 trillion in USA bonds and equities. This is just the beginning.
@nemeciii - Re: "The US is basically not a good credit and long-term the US government finances are not sustainable,."
To be fair, this has been true since the Reagan administration when the tax cuts for the wealthy were initiated and deficit spending exploded (Reaganomics), and no Congress or administration since could be bothered to turn this around.
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So it begins.
Danish pension fund to dump US treasuries "The US is basically not a good credit and long-term the US government finances are not sustainable," says chief investment officer.
Europe holds $8 trillion in USA bonds and equities. This is just the beginning.
@nemeciii Canada can join. We have some too!
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America under Trump is so odd.
After decades of kvetching about the national debt & using it as an excuse to gut the middle class, refuse to get #medicare4All , and eliminate the social safety net etc...
... the $38 trillion of the USA national debt means MAGA can't afford a war without digging themselves deeper.
