Global Markets
Home›Global Markets›Trade & Tariffs›Robert Kiyosaki warns US debt crossing $40T will hurt…
Robert Kiyosaki warns US debt crossing $40T will hurt cash holders
The US Treasury has said it will expand liquidity-support buybacks of longer-dated debt, increasing the size of certain operations from $2 billion to at least $4 billion.
Robert Kiyosaki, author of Rich Dad Poor Dad, renewed his warning as the United States national debt crossed the $40 trillion threshold, citing data from the US Treasury’s Debt to the Penny database, according to Yahoo Finance.
Kiyosaki argued that the growing debt burden would ultimately punish people who rely heavily on cash, saying those savings are likely to lose value.
After the Treasury announced it would expand certain buyback operations for longer-dated government debt, Yahoo Finance reported that the size of those operations would rise from $2 billion to at least $4 billion.
Yahoo Finance also cautioned that the Treasury’s action is intended as liquidity support to improve trading conditions in parts of the Treasury market, and is distinct from Fed quantitative easing, while noting Kiyosaki’s broader concern about inflation eroding purchasing power.