commodity it is based on what the world thinks it is worth. Faith, is not an accounting term used by banks and governments, although that may be what it can amount to in the end.
Just remember the more money that is printed or available, backed by nothing only means your current dollar and buying power becomes less. And yes, they can do it. Would the do it and not tell the American people......of course they would and did and do.
For every dollar we pay out we are borrowing 40 cents on the dollar to make it happen.
Just think for a moment, assuming these good faith loans are being made outside the USA. Then think about every headline you have read where there are firemen, police, teachers being let go because communities do not have the money.
Or the USA space program that has to be truncated/cancelled because they do not have the money.
Or the state parks and libraries that have to either cut back or shut down because they don't have the money.
And the list could go on for a long time.

Then ask yourself again would our government at the expense of maintaining it's own needs, loan money to outside the USA? They do it every single day.
If we the people would rebel we will be labeled as protectionists. And Obama himself in his recent overseas fiasco meetings said to the other nations, we need to guard against protectionism. (And of course they all laughed at him again).

The rest of the world knows they are very protective of their needs for their country is their first priority be it political or for their people. They also know the USA is not a protectionist country and are the first on the scene with the check book which by the way has no balance (which does not stop the check writing because they just print more money). And then the non USA entities buy USA goods and services including military needs with our worth "less" every day dollars. And they laugh again.

The question is: where are the priorities of the USA government? Clearly not in the best interest of or the priority of maintaining the best interest of the country or we the people.

Watch what they do every day....not what they say!!!!!!!

btk