Want to buy Greenland? You'll need Mega Moolah for that!
There are just a couple of things that I know about Greenland. First, it is probably the most inaccurately named place on the face of the globe, given that the vast majority of the country is covered by a vast ice sheet and glaciers. It is hardly the verdant, subtropical oasis that the name Greenland seems to suggest.
Secondly, I also know that Greenland is the largest island on earth. Australia is larger but that is viewed, at least in geographic terms, as a continent rather than an island. I also know that Greenland is essentially under Danish control and that its relatively small 50,000 population are regarded as Danish citizens.
I also know that if you are looking to buy real estate, then by and large, it is going to be a costly process. Even a relatively small island purchase, such as those you can buy quite legally today in many parts of the world, can run into tens if not hundreds of millions of dollars.
In short, you are going to need serious Mega Moolah if you are going to purchase a large piece of land the size of Greenland. But to Donald Trump "it's just another real estate deal.." because he is the "greatest businessman who ever walked on this earth".
Not that this bothered United States president Donald Trump recently when he declared that he had been in talks with his own staff about potentially purchasing Greenland from Denmark to become part of the United States.
It would not be the first time that the United States has purchased land in such a way. The famous Louisiana Purchase in 1803 saw the original 13 states of the United States double in size when it purchased over 828,000 square miles of land from Napoleon's France, who badly needed money for his wars. Although dubbed the Louisiana Purchase, chiefly because the United States wanted access to the bustling port of New Orleans, the $15,000,000 sale actually comprised of a massive swathe of land incorporating 15 present-day US States as well as parts of two provinces of Canada.
The US has since increased its land with two other purchases, buying Alaska from Russia in 1867 and then they also purchased the Virgin Islands from Denmark in 1917.
So maybe President Trump felt that with the Danes happy to sell land to the U.S. in 1917, they would be happy to do so once again just over a hundred years later. However, the president was very wrong about that.
Barely had the idea been mooted in the press when the Danes issued a very swift response and they made it clear that they would not be considering selling any part of Greenland to the United States president.
Danish Prime Minister Mette Frederiksen called the idea "absurd" and perhaps, scarcely believing what she was hearing, commented that she hoped the US president wasn't speaking seriously about the purchase. Former Danish PM Lars Lokke Rasmussen was more scathing when he stated "It must be an April Fool's Day joke."
Soren Esperson, Denmark's foreign affairs spokesman was even more forthright stating "If he is truly contemplating this, then this is final proof that he has gone mad!"
Unsurprisingly, after receiving a string of rather forthright rejections of his idea, Mr Trump seems to have got the hump with the Danes. A state visit to the country, which was due to start on the 2nd September, has now been cancelled by the President which he confirmed in a tweet stating;
"Denmark is a very special country with incredible people, but based on Prime Minister Mette Frederiksen's comments, that she would have no interest in discussing the purchase of Greenland, I will be postponing our meeting scheduled in two weeks for another time..."
Speaking about the proposed deal, Greenland's premier Kim Kielsen reiterated his country's stance stating "Greenland is not for sale, but Greenland is open for trade and co-operation with other countries, including the USA."
Mr Trump has asserted that purchasing Greenland from Denmark would have been "a large real estate deal", but this doesn't really add up considering that in addition to the land itself, 50,000 Danish people call Greenland home.
Would their rights and homes be at risk as part of the sale? Would they receive their share of any negotiated price to vacate their land? If they did, where would they be forced to live? If not, how would Danes feel about 50,000 of their own men and women essentially being sold to the U.S. as part of the deal? It's worth remembering, those living in Greenland operate under similar rules to that in Denmark. They can, for example, play the Mega Moolah slot in Greenland at present. If they were sold as part of the deal to the U.S. they would lose many freedoms from the very basic ones that allow people to gamble online.
Then there is the cost and this is where talk of "moolah" become far more pertinent. How much would it cost Donald Trump to buy Greenland?
Well, given that much of Greenland remains unexplored and its full potential in terms of reserves and opportunities remains a mystery, it is hard to put a definitive dollar value on the country. However, it is possible to do some simple sums. The cost of Wyoming is rated at $97 billion by website 24/7 Wall Street, that would mean purchasing Greenland would cost America around $533 billion. But you can surely multiply that 10 times for the natural resources under ground in Greenland, including rare earths, uranium, and much more offshore. So let's just say it'll cost you $5 trillion!
On top of that there is the costs of running Greenland which Trump's estimated to cost the Danes around $700 million a year. Even if the United States could cut those costs, it would still mean that Trump's legacy would be a large landmass, which tends to drain money from taxpayers.
Of course, Trump would argue that the United States having access to Greenland, and its untapped resources, would more than compensate and certainly in terms of the military, it is easy to see why Trump would be keen to have a big presence right outside Europe to make sure the Europeans fall into line and blame everything on Russia.
Regardless of that, Greenland is definitely off the shopping list for the United States. I do wait with bated breath for Donald's next big idea.
Meanwhile, Greenlanders, you are still free, also free to play Mega Moolah!
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
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