Bases Quote by Noam Chomsky
![“Maybe [the Republicans] 'll find ways around it, but the financial system of the world depends very heavily on the credibility of the US Treasury Department. US Treasury securities are what's called "good as gold"; they're the basis of international finance, and if the government can't uphold…” quote by Noam Chomsky](https://sms4smile.com/quotes/img-quotes/88b/noam-chomsky-42_bases_maybe-the-republicans-ll-find-ways-aroun_2983081.jpg)
“Maybe [the Republicans] 'll find ways around it, but the financial system of the world depends very heavily on the credibility of the US Treasury Department. US Treasury securities are what's called "good as gold"; they're the basis of international finance, and if the government can't uphold them, if they become valueless, the effect on the international financial system could be quite severe. But in order to destroy a limited health-care law, the right-wing Republicans, the reactionary Republicans, are willing to do that.”
About This Quote
Source Speech: Interview on Financial Stability, 2010
The US Treasury's credibility underpins global finance; undermining it would destabilize markets, yet political motives may threaten that stability.
In simple terms: US Treasury credibility is essential for world finance.
Key Takeaway
Protect the Treasury's credibility.
Themes
finance
politics
stability
trust
risk
Mood
concerned
analytical
Type
policy
warning
When to use this quote
- budget negotiations
- policy debates
- financial market monitoring
Key Concepts
sovereign debt
systemic risk
political strategy
Questions to Reflect On
- How can safeguards prevent political misuse of fiscal credibility?
- What alternative systems could reduce reliance on US Treasury?
A Different Perspective
Political actions can jeopardize essential financial foundations.
![“Secretary of State, maybe they [Republicans] would consider Steve Hadley for that job.” quote by George Stephanopoulos](https://sms4smile.com/quotes/img-quotes/f7b/george-stephanopoulos-7418_democracy_secretary-of-state-maybe-they-republican_2718791.jpg)
![“Maybe Republicans should get nukes and the president [Barack Obama] will talk to them.” quote by Andrea Tantaros](https://sms4smile.com/quotes/img-quotes/5da/andrea-tantaros-24125_barack_maybe-republicans-should-get-nukes-and-t_1221794.jpg)
![“I wrote an article about the marine landing [in Haiti] right away, but barely mentioned the oil, because my article would come out two months later and I assumed by then, "of course, everybody knows." Nobody knew. There was a news report in the Wall Street Journal, in the petroleum journals, and…” quote by Noam Chomsky](https://sms4smile.com/quotes/img-quotes/dc5/noam-chomsky-42_articles_i-wrote-an-article-about-the-marine-land_13341.jpg)
