REACTION to JPMorgan's Jamie Dimon warns 20% DROP in the Markets and Thoughts on Crypto

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JP모건 Jamie Dimon의 최근 인터뷰를 리액션하는 영상이다. 결론: Dimon은 S&P500이 추가로 약 20% 하락할 수 있고 6~9개월 내 경기침체가 올 수 있다고 경고했으며, 진행자는 이를 신중히 받아들이되 암호화폐에 대해서는 Dimon의 입장에 강하게 반박한다. [Dimon의 시장 전망] 추가 20% 하락 가능성을 언급했고, 연준이 금리를 100bp 더 올릴 경우 그 고통이 더 클 것이라고 봤다. 마이너스 금리 정책은 완전한 실패로 볼 수 있다는 취지였다. 바닥이 어디인지는 확실히 모른다고 밝혔다. [경기침체 전망] 인플레이션, 예상보다 빠른 금리 인상, 전쟁을 주요 위험요인으로 꼽았다. 유럽은 이미 경기침체이며 미국도 6~9개월 내 침체에 빠질 가능성이 크다고 봤다. 과도한 레버리지와 부채를 진 소비자들이 특히 위험하다고 언급했다. [진행자의 거시 인용] IMF 전망(2023년 세계성장률 2.7%, 인플레이션 하락 전망)과 미국 GDP 2분기 연속 마이너스 등을 언급하며 추가 고통 가능성을 강조했다. Bank of America도 내년 일부 경기침체와 실업 증가를 경고한 것으로 소개됐다. [개인 대응] 신용카드 부채 상환, 저축 확대 등 준비를 권했고, 진행자 본인은 암호화폐를 대안으로 본다고 밝혔다. [암호화폐 논쟁] Dimon은 코인을 탈중앙화된 폰지 사기에 가깝다고 비판했고, 규제된 스테이블코인과 JP모건 코인(JPM Coin)은 인정했다. 진행자는 이를 은행의 이해충돌로 보고 반박했으며, 은행이 송금 수수료로 이익을 얻기 때문에 블록치인이 위협이라고 주장했다. 블록체인 기술이 중앙화된 은행 권력을 침식할 것이라는 취지다. [Hoskinson 관련] 진행자는 Hoskinson의 입장을 인용하며 Dimon을 강하게 비난했으나 실제 출연 발언 여부는 자막상 명확하지 않다.

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01. in a recent interview of Jamie Diamond he predicts a more painful 20 percent drop are we headed for a recession if you don't know who Jamie Diamond is he is the CEO president chairman of JP Morgan Chase one of the world's biggest wealthiest Banks and in this video we're going to clip out some of his thoughts on the economy eventually moving into crypto and what you and I can do about it first let's hear his thoughts on the markets because Bitcoin is currently a mirror a reflection of the market trends it is difficult for anybody to call the Market but still notable that Jamie dimon throughout there the fact that we could see another 20 drop in the S P 500 from my conversations with investors this is the ultimate question they're asking right now where is the bottom and if you listen to Jamie dimon you think he's right it could be a lot more painful from here stock markets where do you see the trough for the S P 500 oh I don't know you know because it may have a ways to go I mean it really depends that soft Landing heart Landing thing and since I don't know the answer to that it's hard for me to answer that but it could it could be another easy 20 and uh you know I think like the next 20 will be much more painful in the first rates going up another 100 basis points so a lot more painful than the first hundred because people aren't used to it and you know and I think negative Arrangement all of a sudden done will will be have been a complete failure so what I'm clearly Hearing in my cowboy ears to my lizard brain is that one of the most powerful Bankers in the world is saying another painful 20 correction another 100 Point hike that will be painful as well and negative rates signaling a complete failure okay all right just spit it to me straight Jamie are we going into a recession you can't talk about the economy talking about the stuff in the future and this is serious stuff okay this is inflation which obviously is you know changing the effect those numbers I just told you about it's rates going up more than people expected already and it's the war and these are very very serious things which I think are likely to push the U.S uh and the world I mean Europe is already in a recession then they're likely to put us in some kind of recession six nine months from now okay so it seems like he's pretty convinced and pretty concerned that we are going into a recession and that's very scary because a lot of people will be in a lot of trouble because they've over leveraged they're in debt they bought something that they can't afford but there are a couple things I wanted to know I wanted to know what does he see what kind of special Insight does he see and what is it that we can do about it and what does Janie Diamond see that he keeps on telling us the recession is around the corner he sees more than most right because all of those credit cards and consumers and bank loans look he had talked about what a hurricane a few months ago I mean his job and he has said this to us many times his job is to worry about what's coming down the pike and he's worried about all the uncertainties there are more uncertainties and more headwinds for Global economies than there at one time than I've ever seen and so he is warning about some sort of a recession in the future six to nine months and I'd like to take a moment to reference some of these headwinds that that lady is bringing up the international monetary fund the IMF is saying that Global growth is going to be cut to 2.7 percent this year Global inflation will end this year at 8.8 percent and next year at 6.5 we've been in two quarters of negative GDP growth the UK is currently stimulating the Nordstrom pipelines are getting blown up nuclear warfares quantitative tightening cycle and crypto being more volatile than an ex-girlfriend looking through your phone more pain to come because the market is wearing a long jean skirt because we have not seen the bottom he's not the only one warning as well you've got Bank of America also saying you're going to see a Versace session down the road and that you'll actually start to see some job losses sometime next year so two two big Bank warnings in the last 24 hours and I think it's what he means about what he sees but also what he said the bank is doing which is they're preparing for whatever might be around the corner so for us folks individually maybe we should prepare too right so what does that mean things like paying off your credit card bills which Christine talks about please you know building up your savings I appreciate what she was saying that you and I should be preparing for whatever comes down the road and for me I choose to prepare with crypto I think it's an option to opt out of a whole bunch of this nonsense but I was wondering what does Jamie Diamond think about crypto okay I'm a major skeptic on crypto tokens which you call currency like Bitcoin they are decentralized Ponzi schemes and and the notion that's good for anybody is unbelievable so we sit here in this room and talk about a lot of things but two billion dollars has been lost every year 30 billion dollars in ransomware AML sex trafficking stealing is dangerous there'd be nothing wrong with the stable coin properly which is like a money market fund properly regulated properly regulated you have some today and they are not JP Morgan has a JP more we are a big user blockchain as a JPMorgan coin which is a token but if you send it to us we give you a US dollar it's a dollar deposit that could be moved just the way uh cryptocurrencies can be moved stable value very low cost okay so he doesn't like it but I personally will never use the JP Morgan coin ever because that is a poo coin and a half now I could go on a whole rant about this and I probably will in the future but in this case I would like to hear from the founder and developer of cardano Charles hoskinson on this very topic Jamie Diamond JP Morgan all these Banks Goldman Sachs were involved in trying to develop their own blockchain do you think the process of him of his bank going through that that he really understood how much of a threat blockchain and Bitcoin and cryptocurrencies are to their business model you know first first with respect to asking a banker about whether they like Bitcoin or not that's kind of like asking a king do you like democracy I mean if you think about it um you know these first 13 billion dollars in fines or something like that under his his Reign uh the guy's a tapeworm but no I mean I I honestly it's just so thoroughly frustrating and insulting when people who know very little about what we do watch an up-and-coming technology and have the audacity to call us all criminals you know we're not the criminals here the whole damn reason this ecosystem exists is because they're the criminals that boy Charles called that man a tapeworm but I swear if someone called me a tapeworm within those is fighting words how you gonna take being called a worm that goes up your poop hole your poop shoot and eats all the poop up in there and and spleen and all that nonsense I don't really know what a tapeworm is he came hard from there okay those guys are the criminals not the developers he might have some insight on the economy but he has no Insight on crypto and I believe he is threatened by cryptocurrencies why well Mr Wonderful has the exact explanation for this Banks make money transferring assets it's a cost of friction in the system it's time to get rid of that friction and it's not important that Banks be protected so they can make fees from that friction when you transfer the US dollar into the Swiss franc to buy Nestle on the Zurich Exchange these Banks add zero value there's no value created in ACH transfer fees if we could use a stable coin that was regulated and approved by both sides of that transaction it would be more transparent it would be much faster it would definitely be more productive but above all I would save millions of dollars and so would everybody else I can't wait till we can do that because that kind of innovation should be supported and it is and that's why we're all here this isn't about you know speculation on asset price this is about reducing the fees of how the world's economies work more transparent more productive completely auditable regulated but less expensive so does Jamie Diamond feel threatened your damn right he does that's a big part of how he makes money too bad that's right too bad technology is evolving and it's bringing more decentralized power to the people and eroding power from the central banks and the big banks of the world and this has happened throughout time cell phones put wall phones out of business the Model T put the horse and buggy out of business and blockchain technology Bitcoin and cryptocurrency is going to put you out of business Mr Jamie Diamond but I'm gonna let you have the final word on what technology really does you know look here look at Tech has always changes the world it is the thing that's changed just about everything I took about over 2 000 years so you should applaud that and if you'd like to applaud this video give us a like on this video subscribe hit the notification Bell if you want to keep on talking head over to the saloon that's the Discord Channel and we'd love to continue this conversation over there thanks for watching and I'll see you in the next video