American can always pay its bills but in depreciated dollars , in theory the FED can monetize all new issues but obviously when that happens then the bonds market is toast anyway and when interest rates in the US will go up the interest payment on the government debt as a percentage of tax revenues will go up and so the fiscal deficit will actually never come down but rather go up in my opinion says Dr. Marc Faber so I think that the US has boxed itself into a very unpleasant situation The US Dollar is really the worst of all possible currencies in the world the second worst is probably the Euro but the US is the champion says Dr. Marc Faber