JPMorgan Chase chief executive, Jamie Dimon, issues a warning: The US Dollar could cease to be the global reserve currency if these two specific conditions materialize.
The Daily Hodl's Take:
Jamie Dimon, CEO of JPMorgan Chase, has issued a stark warning about the future of the US dollar as the global reserve currency. In a frank interview at the Reagan National Economic Forum, Dimon asserted that the US government's mismanagement of its finances could lead to the country losing its superpower status, with serious implications for the dollar.
Dimon didn't mince his words:
"The mismanagement is extraordinary. By state, by city, for pensions - that stuff is going to kill us. 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."
He urged the US government to act swiftly to avoid this bleak outcome.
"We have to get our act together; we have to do it very quickly."
The crux of the issue, according to Dimon, lies in the US's fiscal and political management, particularly escalating fiscal debt and the potential for a crisis in the bond market due to excessive government spending and aggressive quantitative easing by the Federal Reserve.
Be on the Pulse:
- Stay tuned for the latest industry news on our channels: X, Facebook, and Telegram
- Subscribe to get email alerts straight to your inbox
- Check out the Price Action, The Daily Hodl Mix, and more on our site
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that The Daily Hodl participates in affiliate marketing.
- Headlines:
- No Limit Holdings Take the Leap into the Future $15 Trillion Digital Asset Industry with a Successful Fund Closing
- PrimeXBT Expands Globally with FSCA-regulated Crypto Services
- Zircuit Introduces Instant Crypto Top-Ups for Crypto.com Visa Cards
- Learn How to Accept Cryptocurrency on Your Site Step-by-Step Guide
- Stanford Graduates Launch $28 Million Blockchain Fund Backing Frontier Web 3.0 Startups
- Bet20 Debuts Premium Casino Platform, Offering Trusted Licensing, Instant Crypto Withdrawals, and Elite Gaming
- Reddio Kicks Off Exclusive Token Generation Event and Alpha Trading on Binance Wallet
- News Highlights:
- Rich Dad Poor Dad author issues a hyperinflation warning, predicting financial disaster for millions of people
- BlackRock, State Street, and Vanguard accused of colluding to drive up energy prices by the US government
- Police warn of a new bank fraud scheme targeting seniors, aiming to steal cards and drain accounts
- Coinbase faces a class-action lawsuit related to COIN stock decline due to data and regulatory breaches
Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.
Categories
Bitcoin • Ethereum • Trading •Altcoins • Futuremash • Financeflux •Blockchain • Regulators • Scams •HodlX • Press Releases
ABOUT US | EDITORIAL POLICY | PRIVACY POLICYTERMS AND CONDITIONS | CONTACT | ADVERTISE
JOIN US ON TELEGRAM
JOIN US ON X
JOIN US ON FACEBOOK
COPYRIGHT © 2017-2025 THE DAILY HODL
- In the future, the mismanagement of the US economy by the government could lead to the loss of the US dollar's status as the global reserve currency, according to JPMorgan Chase CEO Jamie Dimon.
- Dimon emphasized the need for the US government to address escalating fiscal debt and potential crises in the bond market due to excessive government spending and quantitative easing.
- The deterioration of the US's fiscal and political management could have a significant impact on the global economy, including the cryptocurrency market.
- Policymakers and finance leaders worldwide should closely monitor the situation regarding the US dollar to understand its potential impact on global finance, business, politics, and general news, including the cryptocurrency market and altcoins.
