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SIMI VALLEY, Calif. — In a compelling address at the inaugural Reagan National Economic Forum in California, Jamie Dimon, the CEO of JPMorgan Chase, made a strong case for the United States to shift its focus towards stockpiling military assets rather than digital currencies like bitcoin.
During a panel discussion, Dimon asserted that the country should prioritize accumulating weapons such as guns, ammunition, and drones instead of concentrating on cryptocurrencies. He stated, “We shouldn’t be stockpiling bitcoins. We need to gather guns, bullets, tanks, planes, drones, and rare earth elements. It is clear we must do this, and it should not come as a surprise.”
In his remarks, Dimon highlighted the decentralized nature of bitcoin, describing it as a digital currency that operates independently of traditional banking systems or government oversight. He referenced an executive order signed by former President Donald Trump that aimed to establish a Bitcoin reserve, which Trump dubbed as “a virtual Fort Knox for digital gold.”
Dimon continued to emphasize the necessity of a strong military by stating, “We should be stockpiling bullets. Military experts indicate that, in the event of a conflict in the South China Sea, we would have missile capabilities for merely seven days. This reality is troubling and should not be ignored. It is essential for us to act decisively and efficiently by gathering the right people, engaging in discussions, and taking action toward building our defense capabilities.”
As part of the fireside chat at the Reagan National Economic Forum, which took place at the iconic Reagan Presidential Library, Dimon canvassed a range of issues including the global economy and the shifting geopolitical landscape, which he characterized as marked by wars, proxy conflicts, and potential nuclear threats.
Interestingly, Dimon expressed a potent concern regarding the United States itself rather than foreign adversaries like China. He warned against neglecting the domestic challenges that could undermine America’s position as a global leader.
He pointedly stated, “I am not as concerned about China at this moment. They are a relevant adversary, undoubtedly performing well in some areas, but they face their own significant challenges. What truly worries me is our capacity to unify ourselves, align our values, and enhance our governance systems.”
Dimon challenged the notion of maintaining the US dollar as the world’s reserve currency. He explained, “When people ask whether the United States will remain the reserve currency, my response is no. If we fail to be the leading military and economic power in the next forty years, we will inevitably lose that status. History provides evidence to support this assertion.”
In a critical tone, Dimon referred to the government as a “Leviathan,” suggesting that it lacks the strength necessary to implement effective policies while simultaneously overburdening the American populace with rules they find untenable.
He advocated for a recommitment to the core American values that have historically defined the nation.
Dimon stated emphatically, “We need to celebrate our fundamental virtues: freedom of speech, freedom of religion, freedom of enterprise, equal opportunity, and dedication to family, God, and country. Acknowledging our flaws, such as the injustices faced by the Black community over many years, should not overshadow the great achievements of our country — these are distinct issues.”
He further lamented the lack of constructive dialogue among citizens about pressing policies, expressing a need for unity in addressing what he termed “the enemy within.” Dimon outlined several key areas requiring attention including immigration, taxation, and educational reform, stating, “We must tackle issues such as our permitting processes, regulatory frameworks, and inner-city schooling—these are critical for our future.”
The Reagan National Economic Forum commenced its activities with a lineup of panels that included notable figures such as Secretary of Energy Chris Wright and Senators Mike Rounds and Bill Cassidy, among others. Business leaders from reputable companies like Booz Allen Hamilton also participated, engaging in discussions aimed at promoting President Reagan’s enduring beliefs regarding the importance of free markets and individual opportunity in driving national prosperity.
As the forum unfolds, it seeks not only to honor Reagan’s legacy but also to address contemporary economic and security challenges facing the nation.
