Greenland There’s no need to panic, but

Is it possible that, as in ‘Risk’ or the Mercator projection, everyone thinks Greenland is bigger and more important than it really is?

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The reason this will be hard to resolve is that NATO exists precisely to give joint protection to territory in the North Atlantic. If Russia or China were to invade Greenland, all the NATO allies are obligated to leap to its defense. Denmark has repeatedly sent troops to fight in US-led “coalitions of the willing.” It’s a loyal ally.

Thus, just by raising the Greenland issue, the US shows that it doesn’t trust NATO. Even without use of force, this situation could mean the practical end of the alliance.

The odds are that this mess can be fixed with a messy compromise. 

That would mean another buying opportunity. But the danger of something worse is real, and not concentrated only on European assets. 

There’s no need to panic, but trades that buy precious metals and sell the dollar will likely continue to prosper. 

So, naturally, will the great rally in European defense stocks.

John Authers Bloomberg January 20, 2026

https://www.bloomberg.com/opinion/newsletters/2026-01-20/greenland-isn-t-as-big-as-it-looks-in-risk

Mercator and Robinsons projektion

https://englundmacro.blogspot.com/2025/09/kartor.html