Almost all of US debt is internal. Social security and the federal reserve are the two biggest holders. Only 25% is in other countries, and the largest single other country is Japan at 3%.
If there is a secret Trump plan to devalue the dollar and force us treasury holders to accept cheaper longer term debt, the biggest plenary will be to social security.
(Though on the last numbers I saw had the UK and China with far more similar amounts of holdings.$
Calling T-bills debt is only half the picture. They function more like dollars, whose value can be deflated or increased after issuance merely by changing interest rates.
If there is a secret Trump plan to devalue the dollar and force us treasury holders to accept cheaper longer term debt, the biggest plenary will be to social security.
One visualization:
https://www.visualcapitalist.com/charted-heres-who-owns-u-s-...
(Though on the last numbers I saw had the UK and China with far more similar amounts of holdings.$
Calling T-bills debt is only half the picture. They function more like dollars, whose value can be deflated or increased after issuance merely by changing interest rates.