Jamie Dimon cites ‘enemy within’ to say US should stockpile guns, bullets instead of bitcoin

Addressing the “enemy within,” JPMorgan Chase CEO Jamie Dimon asserted what the United States should be stockpiling, and it wasn’t cryptocurrency.

“It’s not a mystery.”

(Video Credit: Ronald Reagan Presidential Foundation)

In Simi Valley, California, the Ronald Reagan Presidential Library hosted its inaugural Reagan National Economic Forum on Friday, and Dimon didn’t mince words when he spoke about what America’s focus should be. Amid criticism of special interests, SALT deductions and wasted spending on the green agenda, the billionaire spoke to the national security need to be “stockpiling guns, bullets, tanks…”

During the discussion with CNBC’s Morgan Brennan, Dimon was presented with the “expanding intersection between industrial policy in this country and national security” and whether there was a need to “rethink national security.”

To that, the CEO responded, “We know what constitutes national security … We shouldn’t be stockpiling Bitcoin. We should be stockpiling guns, bullets, tanks, planes, drones, you know, rare earths. We know [what] we need to do. It’s not a mystery.”

“We should be stockpiling bullets. Like, you know, the military guys tell you that, you know, if there’s a war in the South China Sea, we have missiles for seven days. Okay, come on. I mean, we can’t say that with a straight face and think that’s okay,” continued Dimon. “So we know what to do. We just got to now go about doing it. Get the people together, roll up our sleeves, you know, have the debates.”

Reiterating his position that “blue tape” was a better term for bureaucratic roadblocks as the Democratic Party warmly embraced stifling regulations, he also expressed failures in communication as a limiting factor: “We don’t talk that much to each other — deal with our policies — this is the enemy within. We’ve got to fix our permitting, our regulations, our immigration, our taxation … I think they’re on their way. We have to fix our inner city schools; our health care system.”

Having previously called out “unfair and unjust” regulations under the Biden-Harris administration, Dimon maintained businesses should have “rules of the road, good regulations and let the world compete.”

He also managed concerns about China’s role on the world stage and said, “I’m not as worried about China. China is a potential adversary. They’re doing a lot of things well, they have a lot of problems. But [what] I really worry about is us. Can we get our own act together, our own values, our own capability, our own management?”

“I always get asked this question: Are we going to be the reserve currency? No. You know, if we are not the preeminent military and the preeminent economy in 40 years, we will not be the reserve currency. That’s a fact. Just read history,” added the CEO.

Despite his recent track record calling out many of the issues in a stakeholder system, distrust for the banking industry ran deep, leading to challenges over the motive of Dimon’s remarks, while others supported the statements.

He wants the crypto market down so that he can load up.

— Mr.Always green (@Rick43630764) May 31, 2025

When bankers start favoring tanks over tech, you know the priorities are shifting. Defense over digital?

— Mudassar Raza (@MudassarRazaJ) May 31, 2025

Time to buy Crypto I guess…

— Gary Hughes (@Gmfh_mod) May 31, 2025

Finally, a voice of reason from Wall Street.

— Emmanuel Nathan (@Emmanue07036811) May 31, 2025

He can say that now since Biden is not in power.

— Earl Angus (@earl_angus) May 31, 2025

Staff Writer

Native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College where he studied Cultural Anthropology and Geography. An avid reader and truth seeker, he currently resides in Texas with his wife and their dog and, when he isn’t researching current events and their impacts, you’ll find him spending time with friends and family or working on his next novel.

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