Jamie Dimon, CEO of JPMorgan Chase has just released a warning about the US economic situation.
Dimon said regulators at an event sponsored by Ronald Reagan Presidential Foundation that it is still too early to tell the impact of the entire amount of money printed between 2020 and now.
You will see cracks in the market for bonds. This is what will happen. It’s coming.
I won’t panic. It’s all going to be okay. My friends may tell me that we’ll make more money and some will say, “We enjoy crises, because they are good for JPMorgan Chase.” Not so. ‘”
Dimon said bond vigilantes were back and selling bonds in protest of unsustainable fiscal policy, America’s ballooning national debt.
Dimon believes that the US should focus on improving itself and eliminating the “enemy inside.”
If we do not become the dominant military force and economy within 40 years we will no longer be the currency of reserve. It’s true. You can read the history.
“We need to act quickly and get organized.”
Dimon said that a concerted attempt to streamline immigration, taxes, schools, and healthcare regulations is necessary.
Also, he reiterated that he was not happy with the emergence of Bitcoin as a reserve asset.
We shouldn’t stockpile Bitcoin. Stockpiling weapons, bullets and tanks would be a better idea. We could also stockpile drones, rare Earths, drones or planes. We need to act .”.
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This article JPMorgan Chase’s CEO warns US Bond Crisis coming after Massive Money-Printing, Says Regulations Will Panic first appeared on The ICD.
