The strongest counterattack in Europe came. The Danish pension fund Akademiker Pension announced today that it would withdraw from the US treasury bond bond market. The chief investment officer of the pension fund said that the US "is basically no longer a good credit target". Of course, this pension is not large, only $25 billion, and the US treasury bond bonds held are $100 million. But this is a signal that Europe is starting to consider using its holdings of nearly $10 trillion in US assets as asymmetric countermeasures to prevent US sovereignty claims over Greenland. As the largest creditor region of the United States, Europe's capital not only supports the U.S. treasury bond market, but also boosts the valuation of U.S. technology stocks. Therefore, weaponizing capital, known as "Sell America," became the ultimate option for Europe to counter the Greenland crisis. According to the data of the International Capital System (TIC) of the US Department of Finance from 2024 to 2025, the total amount of US securities held by foreign countries has exceeded 30.9 trillion US dollars, of which European investors occupy the leading position. According to the data, European public and private sectors hold nearly 10 trillion US assets in total, mainly in three categories: US treasury bond bonds, US stocks and direct investment in the US (Figure 2 below). Of course, Europe's counterattack does not mean radical selling, as long as it is no longer buying, or no rolling reinvestment after the maturity of treasury bond, so that demand naturally shrinks; Reduce the allocation ratio of US stocks in European sovereign funds. European sovereign and official funds, represented by the Norwegian Sovereign Wealth Fund and the Swiss National Bank, have long been important allocators of US assets. Their capital scale is huge, their allocation cycle is long, and their positions are highly concentrated in US bonds and large technology stocks. This type of fund does not need to be 'sold', as long as the reinvestment is slowed down, the weight is lowered, and the allocation is postponed, the market will immediately feel the change. It is necessary to understand the EU's Anti Coercion Instrument (ACI) here. This tool was approved in November 2023 and officially came into effect on December 27th, but has never been actually activated or used to date. It is designed as a "last resort" or "trade rocket launcher/economic nuclear weapon" for the EU to respond to economic coercion from third countries, aimed at countering by restricting market access, investment, financial services, public procurement, intellectual property, and other measures without relying on WTO procedures. The purpose is primarily deterrence, and actual use requires a multi-step process. Last Saturday, after Trump mentioned again the "purchase of Greenland" and threatened to impose tariffs on countries that did not support it (including Denmark and other EU members), there was a strong call within the EU to start ACI. French President Makron publicly said that if the US tariffs were really implemented, he would request the EU to use ACI on behalf of France. Of course, the EU has repeatedly reiterated that this is a deterrent tool, and its success lies in not requiring actual use. In fact, the core is the communication between Trump and European leaders at the Davos Forum this week. As mentioned earlier, whether Trump seeks complete control without sovereignty or really wants territorial annexation determines the direction of the meeting. Complete control without involving sovereignty is actually easy to negotiate, and European leaders can also make concessions. The difficulty of negotiating territorial annexation has suddenly increased by several orders of magnitude. https://(x.com)/qinbafrank/status/2013268122099503395? Before s=20, we also talked about the particularity of the Greenland tariff war here New gameplay on the US stock market, starting from Bitget: https://(bitget. com)/markets/stocks