美欧摩擦，多方针对美元资产发出警告

Group 1 - The core concern is the potential impact of U.S. President Trump's policies on the international status of the dollar, with warnings from Morgan Stanley about the risks of de-dollarization due to U.S. actions in debt, trade, and national security [1][2] - The international price of gold has doubled in the past 18 months, indicating a shift in investor sentiment towards alternatives to the dollar, as foreign central banks now hold approximately $4 trillion in gold, surpassing U.S. Treasury holdings of $3.9 trillion for the first time since 1996 [1] - The uncertainty surrounding U.S. policies is accelerating the global movement towards alternatives to the dollar, as highlighted by the actions of various investors and funds [1] Group 2 - Ray Dalio, founder of Bridgewater Associates, expressed concerns that Trump's actions could lead to a "capital war," prompting countries to sell off dollar assets, which could undermine U.S. credibility and complicate financing for the U.S. fiscal deficit [2] - The Danish pension fund AkademikerPension plans to sell all of its U.S. Treasury holdings, approximately $100 million, due to concerns over the U.S. government's financial stability, reflecting a broader trend of caution among foreign investors [2] - The reliance of the U.S. on foreign investors for debt financing has been highlighted as a critical vulnerability, especially in the context of ongoing trade disputes [2]