The Federal Drug Delta and the European Central Bank

The biggest buyer of government debt has been the federal reserve in order to keep bond yields down interest rates down and make it easy for the government to finance its spending. The main buyers were the Japanese and the Chinese part of the reason is because they don't quite have so much money to reinvest into US treasures but also they've been trying to diversify out of a dollar that particularly China doesn't want to be dependent on having all its assets in dollar assets which could we now know be seized if if the US government feels that the Chinese are stepped out of line from its policy.