JPMorgan Chase CEO Jamie Dimon has called on the government to seize private property in order to fight “climate change.”
In a letter to shareholders, Dimon began by admitting the largest bank in the U.S. is not to the ills currently afflicting America.
“Across the globe, 2022 was another year of significant challenges: from a terrible war in Ukraine and growing geopolitical tensions — particularly with China — to a politically divided America,” Dimon said in his opening remarks.
“Almost all nations felt the effects of global economic uncertainty, including higher energy and food prices, mounting inflation rates and volatile markets, and, of course, COVID-19’s lingering impacts.
“While all these experiences and associated turmoil have serious ramifications on our company, colleagues, clients and the countries in which we do business, their consequences on the world at large — with the extreme suffering of the Ukrainian people and the potential restructuring of the global order — are far more important,” he added.
The remarks are concerning, not for the elites, but for home-owning Americans, due to the fact that Dimon brought up eminent domain under the section titled “Update on Specific Issues Facing Our Company” under the “Climate Complexity and Planning” subsection.
So what does that mean?
Well, ’eminent domain’ is the legal term that grants the government the power to seize private property for public use, which is what the JPMorgan CEO is reffering to.
Although a private property would typically be reimbursed in such a scenario, it usually falls well short of the value of the property.
“The window for action to avert the costliest impacts of global climate change is closing,” Dimon began.
“To expedite progress, governments, businesses, and non-governmental organizations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year,” Dimon wrote.
Dimon added that the need to “align across a series of practical policy changes” includes private property seizure.
“At the same time, permitting reforms are desperately needed to allow investment to be done in any kind of timely way,” Dimon continued. “We may even need to evoke eminent domain.”
How on earth could taking someone’s private property make the “weather better?”
Dimon claimed, “we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
“Polarization, paralysis and basic lack of analysis cannot keep us from addressing one of the most complex challenges of our time,” Dimon said.
“Diverse stakeholders need to come together, seeking the best answers through engagement around our common interest. Bolstering growth must go hand in hand with both securing an energy future and meeting science-based climate targets for future generations,” he added.
Dimon also weighed in on the current banking crisis.
“As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come. But importantly, recent events are nothing like what occurred during the 2008 global financial crisis (which barely affected regional banks),” he wrote.
“In 2008, the trigger was a growing recognition that $1 trillion of consumer mortgages were about to go bad — and they were owned by various types of entities around the world. At that time, there was enormous leverage virtually everywhere in the financial system. Major investment banks, Fannie Mae and Freddie Mac, nearly all savings and loan institutions, off-balance sheet vehicles, AIG and banks around the world — all of them failed. This current banking crisis involves far fewer financial players and fewer issues that need to be resolved.”
The world’s elites want to take real wealth from the people, and their excuse is saving the planet from “climate change.”