JP Morgan Dimon "Dollar Is Precarious…The Real Enemy Is Inside"

Jamie Dimon worrying about the status of the dollar's reserve currency status (Source: AFR)

JP Morgan Chief Executive Officer (CEO) Jamie Dimon expressed strong concerns about America’s future. At the recent Reagan National Economic Forum, he pointed out the crises facing America’s security, economy, and financial system, bluntly stating that “America's enemy is not China but within.”

Dimon particularly cited internal threats facing America such as ▲ burgeoning national debt ▲ inefficient government operations ▲ social division ▲ conflicts between classes. He warned that these issues could undermine the status of the dollar as the current reserve currency and, in the long term, shake the very hegemony of America.

He also expressed concern about geopolitical tensions and the reorganization of the global economic order. If America fails to maintain strong military alliances and economic cooperation, its status as a global leader will inevitably be shaken. He emphasized that “if we do not resolve the current structural problems, the dollar will eventually lose its status as the world’s reserve currency, and America could collapse on its own.”

Dimon's remarks are not mere pessimism but a warning. He clearly stated that if America does not solve its internal problems and reestablish its leadership, the price could lead to a regression in the global financial order.