Very interesting. Regarding ownership of natural resources, though, I think that's pretty relevant and related to the financial crisis. In other countries, that's exactly what's taken as collateral for loans. As I understand it, Iceland refused to give up the volcanic heat for debt -- a very wise decision.

I think Iceland (and other countries) could do well looking at Alaska and their oil fund for inspiration: http://en.wikipedia.org/wiki/Alaska_Permanent_Fund