Topic: Eu uk and even USA canada needs now commodities trading economy (Read 150 times)

I said it is healthiest and strongest economy. Not to mention that relying on exports is only a serious vulnerability if (1) they export only one thing (like oil export countries) or (2) they export to small number of countries. Neither of these are true. China is manufacturing a large number of things and exports them to almost all the countries

I seriously doubt that.
China relies heavily on export. That is not healthy at all, look at Germany, another candidate for an unhealthy State's lifestyle. 

Take the Chinese economy for instance. It has issues but it is still the strongest and healthiest economy in the world. They don't even have enough resources to back that massive economy and yet it is massive and strong. Why? Because they are producing actual goods for an actual demand that exists.

Therefore, I would argue that the most important thing that backs fiat, comes from the core of coercion, and it is the military.

The most important thing that can back the fiat is the economy itself. A healthy productive economy is worth a lot more than all the resources.

$23 trillion in natural resources, 6th richest in the world, is definitely not as bad as you pictured it. Especially when they have a friend like Russia that is the richest country with the natural resources.

You don't necessarily need any physical commodity to back your fiat to have it become valuable. The most important thing that can back the fiat is the economy itself. A healthy productive economy is worth a lot more than all the resources.

Take the Chinese economy for instance. It has issues but it is still the strongest and healthiest economy in the world. They don't even have enough resources to back that massive economy and yet it is massive and strong. Why? Because they are producing actual goods for an actual demand that exists.

Other economies that face issues (and consequently their fiat), are facing them because their economies were not healthy. A lot of them were based on debt and you can only keep a debt based economy running for so long before it falls apart.

10 Countries With the Most Natural Resources

1. Russia
Russia's natural resources reserves are worth $75 trillion by Statista's estimate. This amount incorporates, among other things, coal, oil, natural gas, gold, timber, and rare earth metals. Russia's Ministry of Natural Resources and the Environment estimated the total value of the country's mineral reserves at the end of 2018 to equal $1.44 trillion. U.S. Geological Survey. "2019 Minerals Yearbook."

2. United States
The estimated value of natural resources in the U. S. is $45 trillion, almost 90% of which are timber and coal. In fact, the U.S. is the leading producer of coal. As of 2020, it had the largest proven coal reserves in the world.

3. Saudi Arabia
Saudi Arabia is a small country in the Middle East and is slightly larger than Mexico. Saudi Arabia has $34.4 trillion worth of natural resources—notably oil. The nation has been a leading exporter ever since oil was discovered in 1938.

4. Canada
Fourth on the list is Canada. This vast country has an estimated $33.2 trillion worth of natural resources. It has the third-largest oil deposits after Venezuela and Saudi Arabia. The commodities that the country owns include industrial minerals, such as gypsum, limestone, rock salt, and potash, as well as energy minerals, such as coal and uranium.

5. Iran
Iran's natural resources are worth an estimated $27.3 trillion. In 2021, this country was the fifth-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and the world's second-largest natural gas producer. [13] Other natural resources include coal, chromium, copper, iron ore, lead, manganese, zinc, and sulfur. Arable land, pistachios, saffron, and fruits also contribute to the estimated value.

6. China
China has natural resources estimated to be worth $23 trillion. Ninety percent of China's resources are coal and rare earth metals. Timber is another major natural resource found in the country, as is arable land.

(the list goes on)

You don't necessarily need any physical commodity to back your fiat to have it become valuable. The most important thing that can back the fiat is the economy itself. A healthy productive economy is worth a lot more than all the resources.

You don't necessarily need any physical commodity to back your fiat to have it become valuable. The most important thing that can back the fiat is the economy itself. A healthy productive economy is worth a lot more than all the resources.

Take the Chinese economy for instance. It has issues but it is still the strongest and healthiest economy in the world. They don't even have enough resources to back that massive economy and yet it is massive and strong. Why? Because they are producing actual goods for an actual demand that exists.

Other economies that face issues (and consequently their fiat), are facing them because their economies were not healthy. A lot of them were based on debt and you can only keep a debt based economy running for so long before it falls apart.

You don't necessarily need any physical commodity to back your fiat to have it become valuable. The most important thing that can back the fiat is the economy itself. A healthy productive economy is worth a lot more than all the resources.

A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves.

Countries and banks can print money for a while and make inflation high, but at the some point they have to find new mineral resources, oil, gas, metals, to bring the values ​​of their currencies through this they could balance their financial system and value of their fiat currencies since their high population also.

If they not own the resourcoures in their countries or land atleast they need to connect their currencies with commodities and resourcoures country currency it's absaloutely nessecary specially for Europe as they got a lot not backed money in the system.
They all need same thing the USA canada and eu uk that's absaloutely needed in order to keep wealth flowning and growing.

The stock market the luxury market and expensive Luxury real estate market in places like Europe UK USA want to grow and any ways the goverments can support that grouwth the rich tycoons will support actions.

Do you remember before brexit how rich was London ?
Because a lot world commodities and natural resourcoures wealth was in London a lot russia money a lot chinese money and african leaders money.

And GBP value was way higher because instead of their own country currencies the russians or africa or some middle east ones did deals through London UK so the UK London market was like center point of wealth and made uk very wealthy but now suddenly no more good relations with russians and other rich commodities traders.
so that's for sure the western countries even If they don't produce or own they want to get benefits of the commodities and resources.
Off course usa got resources but it's never enough you want always more If they got more they can print more money and rich people are more happy becouse of bigger wealth.

So for Western countries to have ukraine resourcoures it's absaloutely nessecary.