Compared to the ridiculous 37-person Eight-Nation Alliance defending Greenland before, Denmark's pension fund selling off U.S. Treasury bonds seems like a more practical form of counterattack. However, the fund only holds $100 million in U.S. Treasury bonds, which is truly just a drop in the ocean compared to the $36 trillion total U.S. debt. That said, this is the first shot fired by traditional allies in defiance of the U.S. It signifies the complete distrust of U.S. debt credibility among the Nordic elite and marks the public and legitimized acknowledgment of the concept of 'U.S. credit risk.'