Michael Burry criticizes US Federal Reserve's plan to buy $40 billion in T-bills each month on December 11, 2025

On December 11, 2025, investor Michael Burry criticized the US Federal Reserve’s plan to purchase $40 billion in Treasury bills monthly, arguing it signals a banking system increasingly reliant on central bank support. He highlighted bank reserves rising from about $45 billion in 2007 to more than $3 trillion and warned this could lead to permanent balance sheet expansion or effective nationalization of the $40 trillion US debt market. Burry advised avoiding bank stocks and favoring Treasury Money Market Funds for amounts above the $250,000 FDIC limit, while broader markets rallied and Bitcoin fell more than 2%.