Sovereign credit is the credit of a sovereign country backed by the financial resources of that state. Sovereign credit is the opposite of sovereign debt. Fiat money is sovereign credit and sovereign bonds are sovereign debts. When money buys bonds, sovereign credit cancels sovereign debt.
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Famous quotes containing the words sovereign and/or credit:
“‘tis a duteous thing
To show all honor to an earthly king;”
—Unknown. Yet if His Majesty, Our Sovereign Lord (l. 21–22)
“My credit now stands on such slippery ground
That one of two bad ways you must conceit me,
Either a coward or a flatterer.”
—William Shakespeare (1564–1616)