Posted on 06/02/2025 6:57:18 AM PDT by MtnClimber
No, Jamie Dimon isn't predicting an invasion of or civil war in the United States, but during his wide-ranging discussion at the Reagan National Economic Forum, he did issue some dire warnings about how American policymakers have made some very poor decisions in recent years that threaten economic turmoil in the near term and our long-term dominance in the medium term.
Dimon, as you likely know, is CEO of JP Morgan Chase and the most powerful banker in the world, making him one of the powerful people in the world. While Dimon is not a magician, it would be stupid to ignore his observations and warnings.
AbaKoran
@AbaKoran
👀 “We shouldn’t be stockpiling #Bitcoin , we should be stockpiling guns, bullets, tanks …” JPMorgan CEO Jamie Dimon
You could almost hear Pete Hegseth whispering in his ear about "lethality," a concept with which the Biden administration was unfamiliar. The US military is not a vehicle for providing sex change operations, celebrating diversity, or spreading the DEI gospel around the world. It exists to deter our enemies and, when necessary, kill people and break things. And it seems to have taken its eye off the ball at a particularly dangerous point in history.
President Donald Trump signed an executive order in March establishing a Bitcoin reserve, which he described as “a virtual Fort Knox for digital gold.”
“We should be stockpiling bullets,” he continued.
“Like, you know, the military guys tell you that, you know, if there’s a war in the South China Sea, we have missiles for seven days. Okay, come on. I mean, we can’t say that with a straight face and think that’s okay. So we know what to do. We just got to now go about doing it. Get the people together, roll up our sleeves, you know, have the debates.”
Dimon joined a fireside chat during the Reagan National Economic Forum in Simi Valley, California, at the Reagan Presidential Library Friday for a sweeping discussion on the economy and how the world’s “tectonic plates are shifting” in geopolitics in the form of wars, proxy terrorists and the potential proliferation of nuclear weapons.
It's easy to underestimate the importance of military dominance to our economic dominance, and particularly to our status as the world's reserve currency. And in turn, it is only our status as the world's reserve currency that has allowed us to spend ourselves to the brink of insolvency. Loss of that dominance would lead to an economic crisis--one that we are already rushing toward unless we get our act together.
Dimon has been an establishment Democrat, but during recent months has been highly critical of Democrats and often sympathetic to MAGA. As I wrote as far back as January 2024, he chastised Democrats for failing to listen to the concerns of MAGA.
“I always get asked this question: Are we going to be the reserve currency?” he said.
“No. You know, if we are not the preeminent military and the preeminent economy in 40 years, we will not be the reserve currency. That’s a fact. Just read history.”
He referred to the U.S. government as a “Leviathan” that is too weak to carry out policies, while simultaneously imposing “things on the American public that they’re getting sick of.”
Dimon argued that instead, the U.S. needs to celebrate its long-held values.
“Celebrate our virtues: freedom of speech, freedom of religion, freedom of enterprise, equal opportunity, family, God, country,” he said.
Dimon didn't endorse Trump's policies--obviously, he thinks the Bitcoin thing is kinda bizarre, as do I--but he reserved his biggest criticism for Democrats' policies. Immigration under Biden was an unmitigated disaster, and unlike the Chamber of Commerce types who are just looking for cheap labor right here and right now to goose next quarter's numbers, Dimon acknowledged that Biden's policies were insane.
And then there is the problem of government getting in the way of innovation and economic growth, which is much more than an annoyance--it undermines the foundation of America's economic dominance, which is the strength of our economy. The more the government meddles in the economy, the less efficient and dynamic it will be.
And it had better be as dynamic as humanly possible. Most people don't seem to understand how precarious America's finances are, and likely won't unless and until there is a massive crisis in the bond market (Dimon seems to be predicting one). As we argue about tweaks here and there to government spending and whether the US government should require able-bodied young men to get off their asses and work 20 hours a week in order to get government benefits, the debt clock ticks up in increments of trillions--not billions--of dollars a year.
“Like, you know, the military guys tell you that, you know, if there’s a war in the South China Sea, we have missiles for seven days. Okay, come on. I mean, we can’t say that with a straight face and think that’s okay. So we know what to do. We just got to now go about doing it.”
I’m sure Freepers are doing their part.
“...freedom of enterprise, equal opportunity, family, God, country.”
A Freeper in the making?
Obviously Jamie ain’t on here and there are lots of folks that have LOTS of ammo not on here either.
Quantum computing may render digital money very hazardous as an economic "store of value."
There is already an invasion going on in the U.S. facilitated by the U.S. government.
“...freedom of enterprise, equal opportunity, family, God, country.”
A Freeper in the making?
He’s been red pilled.
AND, after years and years of saying Iran can never have a nuclear bomb, it seems they do, or are weeks away. I’m with Mark Levin on this one, this is what you call a front burner issue and needs to be confronted today, not in weeks or months.
Dimon sure likes hearing himself talk.
“We should be stockpiling bullets“
Then sell all the small arms and bullets stockpiled by the non-military agencies to the general public a a steep discount.
I’ve got bullets and brass but never got around to purchasing reloading equipment.
I suppose you could stock up on bullets. Put them in a sock and beat someone if needed for self defense.
Fyi, China is the leading producer of antimony, a key ingredient in ammo.
When TSHTF gold won’t produce food or be used to protect your life and property.
Brass and lead are the best precious metal investments.
“an invasion of or civil war”
The first has already occurred and it will be the cause of the second
Democrats: if you have lost Jamie Dimon, you’ve lost America.
...and he has a bridge to sell you. 😉
Not interested 😉
wait wait wait, so i’m suppose to stockpile bullets... and then drive into work instead of working at home with all my ammos?
nice try, just for that i’m gonna shoot him first if i decide to check out one day.
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