Cold Calculation of U.S.: Why Trump Wants Greenland

In an unexpected turn of events, the distant land of Greenland has returned to the spotlight of global media, thanks to Donald Trump’s declaration of intent to acquire the territory.

Whether to buy or seize by force, the American leader's rhetoric is filled with ultimatums and threats. “The U.S. must own the island!” was the clear message from the White House.

As a true real estate aficionado, Trump had his eye on this icy lot - about the size of half of the European Union - back in 2019. "Why not buy Greenland?" he asked at a press conference, as if discussing a defunct casino. Denmark scoffed, the world chuckled, but the American reflex kicked in: if something glitters, it must belong to the U.S.

Today, Denmark maintains control over the icy territory. It was the Vikings, in the 10th century, who dubbed this land Greenland to lure settlers. The ruse worked, but by the 15th century, the Scandinavians had fled, leaving behind cold and ice for the indigenous peoples, who would come to be considered Danish citizens after five centuries.

Initially a colony, Greenland is now regarded as an autonomous territory. The metropolis retains control over the island's foreign and financial policies, citizenship matters, and defense. As part of the kingdom, Greenland has its own government and other institutions, but the official currency is the Danish krone.

Although the island is not part of the EU, it has the status of an associated member with certain customs privileges, and its residents are EU citizens.

Covering an area of 2.2 million square kilometers, Greenland is situated northeast of North America and lies almost entirely above the Arctic Circle. The island is 80% ice-covered, with ice thickness reaching up to 3 kilometers. This ice sheet holds around 10% of the world's freshwater reserves, and the population totals over 55,000.

A significant portion of the island's budget comes from Copenhagen, a fact Trump capitalizes on, labeling Greenland a burden for Denmark. While Denmark does allocate about $700 million annually to the autonomous territory, for a nation that operates on a roughly $170 billion budget, this amount is merely a drop in the bucket - accounting for less than 0.5 % of total expenditures. Furthermore, Denmark ranks among the ten wealthiest countries globally, feeling so secure that its central bank issues loans at just 0.05% interest, with banks even incentivizing people to take mortgages.

In recent years, Greenland has experienced a rapid increase in average temperatures, four times faster than other parts of the planet, leading to glacier melt that reveals the island's rich mineral deposits.

By 2025, estimates point to 38 million tons of rare earth metals and 50 billion barrels of oil under its surface. Greenland’s lands are also rich in gold, uranium, and other valuable resources. Analysts suggest that the island's depths hold the entire periodic table of elements.

Moreover, with the melting glaciers, the Northern Sea Route is projected to reduce the distance from Asia to the U.S. by 40 % by 2030.

If the U.S. achieves control over the entire island, it would mark their closest territory to Europe, automatically making it a critical strategic asset.