I met Jamie Dimon (believe me, he doesn't remember me) in the mid 1990s while working for an investment bank that Sandy Weill of Travelers fame was looking to buy.
Weill came through the office and Dimon was right behind him as his protege.
After some years, the two parted ways and Dimon eventually joined JP Morgan, the commercial banking side of the original House of Morgan.
At the time of our meeting, Weill was looking to bring down the Glass-Steagall Act, which separated commercial and investment banks, a product of the Great Depression. The original goal was to prevent investment banks from risking consumer deposits with speculative ventures.
I remember thinking at the time -- this will not end well.
It didn't and we found out how bad it would be in the 2008 financial crisis.
Today, in a Congressional hearing, Jamie Dimon declared he would 'end crypto if he were the government'.
That is a very tyrannical statement.
Why might one say such a thing?
Of course, he couched it in 'safety terms' like 'safe and effective' or 'flatten the curve', declaring he was concerned about financial crime.
However, I don't think that's the real reason Dimon would end Bitcoin.
He would end Bitcoin because it is the one thing that threatens the financial fiat matrix.
It threatens the banking cabal that rules main street, the people who charge $40 if you bounce a check, or cut off your credit card while you're traveling without telling you, and embarrass you at dinner with a client.
It's a huge racket, and a business that is in dire need of re-engineering, like the residential real estate broker racket.
These mega banks, too big to fail, privatize the profits, and socialize the losses.
We saw that loud and clear in 2008, and no bankers went to jail for the obvious fraud (let's take 100 garbage loans who are rated CCC and put them together in a package and presto - it's a AAA security!).
What could go wrong?
Dimon doesn't want to lose the ability to control what you do with your money, or lose the ability to use your deposits for whatever he wants. Or, lose the fiat system where money can be printed out of thin air to bail out, well, the big banks.
Bitcoin allows none of that.
With Bitcoin, it's your money, you can't print more of it, the government can't control it, or know what you are doing with it.
That's really bad for the matrix.
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