Last weekend at the Reagan National Economic Forum in California, JPMorgan Chase CEO Jamie Dimon issued a chilling warning about a crisis on the horizon.
“It wasn’t about coming interest rates, not about inflation curves or crypto adoption,” says Glenn Beck.
It was about survival.
“We shouldn’t be stockpiling Bitcoin. We should be stockpiling guns, bullets, tanks, planes, drones, rare earths. We know what we need to do. It’s not a mystery,” Dimon said, adding that military personnel have warned that “if there’s a war in the South China Sea, we have missiles for seven days.”
“Jamie Dimon is not a guy that usually deals in hyperbole; he’s not a man who chases the headlines; his words, and he knows this, move global markets,” says Glenn, and yet, “nobody will pay attention to him because nobody is interested in telling you the truth on how dire our situation actually is.”
To ignore Dimon, who is typically silent on such matters, would be an egregious mistake with enormous consequences, says Glenn. He’s reminded of what just happened last weekend when Ukraine — a country practically “in third-world status” — destroyed “one-third of Russia’s nuclear strategic air command” with a fleet of drones.
Considering “what could be done here [in the U.S.] with open borders and enemies like China and Iran” should make us heed Dimon’s warning and get ready for this “new era of scarcity” that’s practically knocking on our door.
But how do we do that?
We can start by investing in things that matter and will always matter, says Glenn.
“In a time of instability, Bitcoin becomes an abstraction. It has no mass, it has no utility,” and it “depends on electricity and the internet and a collective belief,” he explains. Compare that to “bullets, fuel, and food,” which “are not ideas” but “lifelines.”
“[Dimon] is not saying abandon innovation; he’s saying don’t bet your future on intangibles,” says Glenn.
Dimon also acknowledged in his talk that “family, God, [and] country” were of utmost importance and encouraged the nation to see its shortcomings without denouncing the country as a whole.
“Celebrate our virtues — freedom of speech, freedom of religion, freedom of enterprise, equal opportunity. … You can acknowledge the flaws that we have, which are extraordinary – what we did to the black population for years” — but “don’t denigrate the great things of this country,” he said.
“Understand your rights not because you just want to use them but because you know someday you may have to use them,” says Glenn. “Ignore what’s happening today at your own peril.”
To see the footage of Dimon’s warning and hear more of Glenn’s commentary, watch the clip above.
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