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Top Level Greenland Talks On Again

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We have just learned that Danish Prime Minister Mette Frederiksen has had a phone conversation with President Trump over a dispute about Greenland, her office said Friday.

Earlier this week, President Trump scrapped a visit to Denmark by saying that Frederiksen was “nasty” when she rejected his idea of buying Greenland as an absurdity.

Both leaders spoke late Thursday, and Danish media reported that the call was “constructive.” PM Frederiksen’s office says details of the discussion will not be released.

It is believed that it was the 1st time the 2 spoke since Ms. Frederiksen, who repeatedly has said the US remains one of Denmark’s close allies, took office on 27 June.

Tuesday, President Trump abruptly canceled a 2-3 September trip to Denmark as part of a European tour after Ms. Frederiksen had called Trump’s idea to buy Greenland “an absurd discussion.”

She said that Denmark doesn’t own Greenland, which belongs to its people. The scarcely populated island is part of the Danish realm and has its own government and parliament.

The political dust-up over the world’s largest island comes from its strategic location in the Arctic.

Greenland is becoming more accessible to potential Crude Oil and Key strategic mineral resources. Russia, China, the US, Canada and other countries are racing to stake as strong a claim as they can to Arctic lands, hoping they will yield future riches.

The sparsely populated island, which is 4 times zones behind Copenhagen, became a Danish colony in Y 1775 and remained that way until Y 1953, when Denmark revised its constitution and made the island a Province.

In Y 1979, Greenland and its 56,000 residents, who are mainly indigenous Inuits, got extensive home rule but Denmark still handles its foreign and defense policies, as well as currency issues.

Denmark pays annual subsidies of about $700-M to Greenland whose economy otherwise depends on fisheries and related industries.

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.