Jamie Dimon Calls for US to Stockpile Weapons Instead of Bitcoin

Jamie Dimon, CEO of JPMorgan Chase, recently suggested that the U.S. should focus on stockpiling weapons and rare earth elements rather than bitcoin, during his address at the Reagan National Economic Forum. He highlighted internal challenges facing the country, downplayed China’s role as a major adversary, and called for improved national policies. The forum aims to promote Ronald Reagan’s belief in free-market values and individual opportunities to enhance national prosperity.

Jamie Dimon, the CEO of JPMorgan Chase, made headlines after suggesting that the United States should focus on stockpiling arms and rare earth elements rather than investing in bitcoin. Speaking at the inaugural Reagan National Economic Forum in California, Dimon dismissed cryptocurrency as a priority, stating emphatically, “We shouldn’t be stockpiling bitcoins. We should be stockpiling guns, bullets, tanks, planes, drones, you know, rare earths. It’s not a mystery.

Dimon was responding to a question about the intersection of national security and industrial policy during a panel discussion. He cited the military’s readiness as a context for his views, noting that the U.S. is ill-prepared for conflict scenarios, such as potential warfare in the South China Sea. He contended that being unprepared is neither acceptable nor sustainable for national security.

The discussion also touched upon broader geopolitical shifts, with Dimon addressing issues surrounding global conflicts and the evolving landscape of international relations. He referred to the ongoing dangers posed by proxy wars and nuclear proliferation threat, calling for a united effort to acknowledge these challenges.

In a surprising turn, Dimon downplayed the notion that China is the foremost adversary. Instead, he expressed greater concern for internal issues that might jeopardize the U.S.’s standing. “I’m not as worried about China,” he stressed, warning that America must get its own house in order to maintain its status as a global leader.

Dimon addressed the question of whether the U.S. will continue to be the reserve currency. He projected that if America fails to uphold its military and economic dominance in the next 40 years, it will lose that status. He bluntly remarked, “That’s a fact. Just read history.”

Additionally, Dimon described the U.S. government as a “Leviathan,” implying it is currently struggling to implement effective policies while overwhelming the public with unwelcomed regulations. He urged a celebration of core American values, emphasising freedom of speech, religion, and opportunity, but also acknowledged historical injustices that must not be overlooked.

Dimon continued with a call for dialogue and policy reform to tackle issues such as immigration, healthcare, and education. He lamented a lack of communication, branding it the “enemy within” that needs addressing.

The forum itself promises engaging discussions, featuring speakers like Secretary of Energy Chris Wright and various lawmakers, as it seeks to further President Reagan’s vision of free markets driving national prosperity. The event aims to foster bipartisanship around these critical national issues, bridging gaps for a stronger tomorrow.