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Americans do not realise that the world economy entails more than iPhones and cars - much of it consists of money. Lots and lots of money. And guess what the EU (and the rest of Europe) has a lot of?

Imagine the shockwaves once the Norwegian pension fund starts to treat the US as the pariah that it is. That's the largest wealth fund in the world, over $1.7 trillion, owning 1.5% of all publicly listed shares in the world (!).

Americans have no idea what's about to hit them.