How is this different from the 50 states (plus the rest of the world) borrowing dollars from the Federal Reserve, dollars, which too get printed out of thin air?
FTFY
I stand corrected. I always though of Hawaii as the 51st state. And the running joke about Norway being the Last State of America got at me from there, resulting in number 52
At least you are better informed than Obama. He is on record as having visited the 57 states in the union, with one left to go.
http://www.youtube.com/watch?feature=player_embedded&v=EpGH02DtIws