President Donald Trump’s new Greenland security agreement has drawn reactions from investors Peter Schiff and Michael Burry.
Peter Schiff Questions Trump’s Greenland Deal
On Friday, Trump said the U.S. had reached an agreement with Denmark and Greenland that gives Washington “permanent control over security” and other security needs on the island.
He also said the U.S. would begin developing plans for a larger military presence there.
Schiff, chief economist and global strategist at Euro Pacific Asset Management, argued on X that Trump had effectively abandoned his earlier push to acquire Greenland.
“After failing to get a deal to purchase or annex Greenland, Trump finally gave up and declared victory on social media,” Schiff said.
He acknowledged that the agreement could enhance the existing security arrangement but argued that the concessions came after what he described as costly public pressure.
Responding to a user who argued that the agreement provides a permanent strategic lockout of Russia, China and other non-NATO countries, Schiff pushed back on the characterization of permanent U.S. control.
“It’s not permanent control,” Schiff wrote. “That control only lasts so long as the NATO alliance remains in place.”
Schiff also argued that Trump could have pursued the same outcome through private negotiations instead of publicly threatening to take Greenland.
Michael Burry Highlights Greenland’s Missile Defense Role
Burry, meanwhile, resurfaced a January analysis explaining why Greenland holds significant military value for the U.S.
In his earlier post, Burry had pointed to two potential advantages: positioning missile defenses to intercept incoming Russian or Chinese ICBMs and deploying offensive missile capabilities closer to those countries.
Burry had noted that Greenland lies near the trajectories of some missiles traveling between Russia and North America and near the region where ballistic missiles can reach their highest altitude, or apogee.
Greenland Remains Under Danish Sovereignty
The agreement does not transfer Greenland to the U.S.
Denmark and Greenland have said the pact recognizes their sovereignty and Greenlanders’ right to self-determination.
The agreement is expected to be signed at the UN General Assembly and still requires parliamentary approval.
The U.S. already has military rights in Greenland under a 1951 defense agreement with Denmark, including its existing Pituffik Space Base.
The new agreement is intended to expand the U.S. military presence and prevent adversaries from establishing strategic footholds on the island.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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