特朗普通告全球，不许减持美国国债；中方还剩6830亿，游戏已结束

Core Viewpoint - The article discusses the precarious state of U.S. financial dominance, particularly in light of China's significant reduction of U.S. Treasury holdings to $683 billion, which is seen as a strategic move in the ongoing global financial power struggle [3][7]. Group 1: U.S. Financial Vulnerabilities - The U.S. Treasury market is described as a "Ponzi scheme," relying on issuing new debt to pay off old debt, which poses a risk of collapse if global buyers withdraw [5]. - The sale of $1 million in U.S. Treasuries by a small Danish fund is highlighted as a symbolic act that undermines the perception of U.S. debt as "absolutely safe" [5]. - The Federal Reserve's ability to manage monetary policy is threatened if liquidity in the Treasury market dries up, rendering its tools ineffective during economic crises [5]. Group 2: China's Strategic Moves - China's reduction of U.S. Treasury holdings from a peak of $1.3 trillion to $683 billion is likened to a strategic strike against U.S. financial hegemony, with a $600 billion reduction seen as a significant blow [7]. - China is diversifying its assets by increasing gold reserves for 14 consecutive months, accumulating 2,300 tons of physical gold to create a "dam against the dollar" [7]. - Investments in Euro and Yen assets are being accelerated to hedge against the depreciation of the dollar, alongside increased investments in overseas infrastructure and technology sectors to enhance its global influence [7]. Group 3: Implications for Global Financial Order - The article suggests that China's actions dismantle the U.S. narrative of financial dominance, indicating a shift from being a "buyer" of U.S. debt to a "market hunter" focused on national interests [9]. - Trump's threats are portrayed as desperate attempts to maintain an outdated financial order, while China is building a "financial fortress" through diversified assets and reduced reliance on U.S. debt [11]. - The future competition in global finance is framed as a struggle for control over the foundational rules of international finance, with China positioned to play a central role rather than a supporting one [11].