We owe because our elected official borrowed from the Fed. So it has to be paid back.
Other countries buy our debt from the Fed. The fed is the middle man.
We don't own the fed.
The US Treasury sells Bills, Notes and Bonds. They don't borrow from the Fed.
They would sell debt the exact same way if the Fed didn't exist.
The Fed is part of the Federal government. The US Treasury gets all the profit from the Fed
beyond that which they use to run the Fed.