"Apparently they make toys. Not much of an army." Loki reconsidered then, tilting his head slightly. "Possibly they're purely defensive, building up fortifications and so on. One might consider Santa Claus's yearly run as a form of diplomacy, yearly gifts to maintain good relations." That sounded like Odin: maintaining an army but keeping it at home, carefully scheduling and advertising 'goodwill' to ensure that people remembered he had an army he kept at home.