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anyone who is the bearer of a US Treasury bond that hasn't reached maturity

so if you have any investments even in your 401k, or hold any ETFs, much of it is invested in those

holders are individuals domestic and worldwide, retirement plans, foreign governments, banks, central banks like the Federal Reserve

the US government slowly pays people back with revenue and other people's money via newly issued bonds, over time, and does it very reliably, so people keep buying. The US government's revenue comes mostly from tax collection, followed and a few other sources, some private sector ownership in recent decades, and it pays the interest on all of the active bonds.



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