Sure, populate says put a copy of a token you control on the battlefield, so you just copy nothing and give all of your creatures indestructibility.
December 30, 2012 3:36 p.m.
Because populate does not actually target anything, the spell won't fizzle in any fashion as a result of controlling no tokens when you cast it.
December 30, 2012 3:41 p.m.
December 30, 2012 6:18 p.m.
You do not need to actually have a token to resolve any populate effect. It just does nothing.