Do you understand what Treasury Bills ARE?
All Treasury Bills are paid out of the General Fund and they are all promissory notes.
Do you not understand that? Do you think the T Bills that millions hold are "fake"?
United States Treasury securities are
government debt instruments issued by the
United States Department of the Treasury to finance government spending as an alternative to taxation. Treasury
securities are often referred to simply as
Treasurys.
[1] Since 2012, U.S. government debt has been managed by the
Bureau of the Fiscal Service, succeeding the
Bureau of the Public Debt.
There are four types of marketable treasury securities:
Treasury bills,
Treasury notes,
Treasury bonds, and
Treasury Inflation Protected Securities (TIPS). The government sells these securities in auctions conducted by the
Federal Reserve Bank of New York, after which they can be traded in
secondary markets. Non-marketable securities include savings bonds, issued to the public and transferable only as gifts; the State and Local Government Series (SLGS), purchaseable only with the proceeds of state and municipal bond sales; and the Government Account Series, purchased by units of the federal government.
Treasury securities are backed by the full faith and credit of the United States, meaning that the government promises to raise money by any legally available means to repay them.
