Billionaire investor Stanley Druckenmiller sharply criticized the U.S. Treasury’s decision to at least double long-dated bond buybacks to $4 billion per operation, calling the move artificial yield suppression rather than liquidity support. In a Wall Street Journal opinion column after the 30-year yield hit a 19-year high, he said orderly trading conditions did not justify the Aug. 19 expansion and urged policymakers to let the bond market speak. With national debt above $40 trillion and the deficit near 6% of GDP at full employment, he argued every basis point of suppressed yields subsidizes delay on entitlement and fiscal reform. Treasury Secretary Scott Bessent, whom Druckenmiller mentored earlier in his career, has defended the purchases as routine liquidity tools and cited a broad toolkit for possible further steps. Druckenmiller said buybacks should return to small scheduled operations and that durable relief in long-term yields requires addressing the primary deficit, not defending prices against fundamentals.