JPMorgan CEO: The US should stockpile guns, ammunition, and drones, instead of Bitcoin.

On June 3, at the inaugural Reagan National Economic Forum in California, JPMorgan Chase CEO Jamie Dimon made a startling claim: The United States should stock up on guns, ammunition and drones, not Bitcoin. "We should stock up on guns, bullets, warplanes, drones, etc., as well as rare earth resources. We all know we have to, and there's nothing controversial about that." In his remarks, Dimon referred to Trump's executive order signed in March to build up bitcoin reserves. The banking giant has a long history of being anti-crypto (although JPMorgan Chase now allows clients to trade cryptocurrencies). This position is not surprising – the idea of sovereign money and financial democratization is incompatible with the banking industry's rentier model of "putting the money in our trust". Dimon also threw out a startling argument: America's real "internal enemy" is eroding America's global leadership. "What I'm really worried about is ourselves – can we put our code of conduct, our values, our management capabilities and our overall strength in order," he said. (Golden Ten)