Dimon’s Warning on Geopolitics

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Dimon Issues Dire Warning About “Treacherous” Geopolitical Situation

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Stuart Turley: [00:00:11] Hello, everybody. Welcome to the Energy News Beat daily. Stand up. My name’s Stu Turley, president and CEO of the Sandstone Group. Michael is out on assignment today. And we are covered over on the news desk. Let’s go to our stories today. Diamond issues, dire warning about treacherous geopolitical situation. China initiated huge military drills around Taiwan. Warning to island President Israel attack on Iran’s oil bases could have massive repercussions and may help Trump’s chances of winning a leg. Morgan Stanley Morgan Stanley urges CIOs to Explore Bitcoin Mining Stocks Amid Rising energy Prospect Google Backs Blackout of small nuclear reactors in Kairos Deal. It’s pretty cool. Love Nuclear War stories. [00:01:06][55.8]

Stuart Turley: [00:01:07] Let’s start with our geopolitical trio here. Coming around the corner. Had an outstanding podcast today with David Blackman, Irene Islam and Tammy Németh on the energy realities. And we also had a special guest, Christopher Messina, and I’m going to talk about him here in a little bit on the Bitcoin mining discussion that we had on a I. He wrote a book, Messina’s Federal Budget, and I’ve invited him to come on the podcast and visit about finances and everything else. So lots of great content coming around the corner. But let’s start with Jamie Dimon. Issues dire warning about the treacherous geopolitical situation. He is the CEO of JP Morgan Chase, and he is cited very big, particularly the Middle East, as a major factor contributing to uncertainty. He’s also talking about political economic challenges in the United States, including inflation, fiscal deficits and infrastructure issues. Quote, there is a significant human suffering in the outcome of these situations could have far reaching effects on both short term economic outcomes and, more importantly, in the course of history, Diamond said. On the bank’s third quarter earnings release, he said his bank is closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse. This is huge. Jamie Dimon has had a lot of good points in the past. He says Iran, North Korea and Russia, I think you can legitimately call them an evil axis, he told reporters at the Financial Markets Quality Conference in Washington in September, referring to a term that’s first used by President George W Bush to describe Iraq. While we hope for the best. These events and prevailing uncertainty demonstrate why we must be prepared for any environment. I’ll tell you, he’s been running it for JPMorgan for 18 years, and he emphasized the board will do the right thing on succession when he eventually leads. I’ll tell you, he is saying again, all of our hearts and prayers go out to Hurricane Helene and Melvin. And again, we are our hearts and prayers go out for that travesty. [00:03:28][141.2]

Stuart Turley: [00:03:29] Let’s go to China. China initiates huge military drills around Taiwan warned in a warning to the island’s president. They launched a military drills encircling the self-governing island of Taiwan, which Taipei has blasted as unreasonable provocation. China’s play military deployed warships and fighter jets to stern warning against separatist acts of Taiwan independence forces. This is actually a mind blowing event when you sit back and think about if they are going to reenact and they’ve never been a Taiwan was never part of China. But if they’re going to annex Taiwan, you would think that now’s the time to do it before President Trump wins the election. So they must feel that he is going to win the election. And they may have. Only this time, I don’t know. Beijing is presenting these new drills as necessary. A response to a speech last Thursday by Taiwan’s President Lai on the occasion of National Day. He emphasized that People’s Republic China has no right to represent Taiwan. This is a an issue of showing that you’re going to have either a choice when you go to the vote, and early voting is going to be in Texas and I’ll be there. And that is when you take a look at whether or not you can vote for Trump, which he had no wars. And when you take a look at all the wars with the Democrats, I’m a no war kind of guy. [00:05:06][96.7]

Stuart Turley: [00:05:06] So let’s go over to the next one here and is. Israeli attack on Iran’s oil bases could have massive repercussions, and that may help Trump’s chances of winning the election. I hope they don’t hit the Iran’s oil infrastructure only from the standpoint that it would. The Iran did not have any oil income under Trump because of the way he handled sanctions. Sanctions have been mishandled by this administration and weaponization of the dollar has occurred and allowed Iran to make a lot of money. If Israel takes out the Kharg Island and takes out 95% of their export capacity. I think it’s going to do a lot more to oil and harm the economy. Now, from the standpoint of now you’re going to have China, who is buying all of the oil. I believe they’re buying 70 to 80% of their oil. The 3.5 million barrels per day. China is buying that. China has been buying because they think they’re going to war. That is not that is what countries normally do is when they go to war, they buy all the energy that they possibly can. Now, Israel is thought to have deeply penetrated Iran with intelligence assets, a covert attack on its infrastructure or government as possible. We don’t know. But this is some unbelievable stuff going on around the world. I have never seen this kind of a mess. [00:06:43][96.1]

Stuart Turley: [00:06:43] Next story coming around the corner. Morgan Stanley urges CEOs to Explore Bitcoin Mining Stocks Amid Rising Energy Prospects. Policies for new power generation Coupling by coupling data centers with dedicated power generation. The report projected a surge in the value repurposed industrial sites and energy driven facilities. We’re seeing this with the advent of the reopening of the Three Mile Island and going into for the API. Now we’re seeing this also going into crypto mining as well too. Now that being said, I did have a conversation with Christopher Manzi and he is the author of Men Sans a Federal Budget. And he is saying that Bitcoin is coming around the corner and you’re going to be able to use very little power in order to mine for Bitcoin. And I want to really find out more about that discussion. But when you sit back into AI infrastructure and Bitcoin mining, Bitcoin mining has been a boon for the operators. They could use that to help raise income and burn stranded natural gas and and help the environment. So I’m not a anti bitcoin miner from the standpoint is if you use it in the right property in the right way there is a great use for Bitcoin mining as a revenue source. Pretty cool article on that. [00:08:17][94.3]

Stuart Turley: [00:08:18] So let’s also take a look at the last story for today. Google backs build out of small nuclear reactors in Kairos Deal. You know, just like taking a look at the the Three Mile Island deal on this. The deal which will bag 500MW of power, includes Cairo’s 50 megawatt demonstration Hermes project in Tennessee, followed by commercial scale reactors at 75MW. Big technology companies are racing in line to power supply. We’re looking for new net clean power, Tackle said. We’re not looking to repurpose their existing clean power. So they’re really looking for net zero type power, which is nuclear. This is exciting from the standpoint that we do need to reopen the nuclear business and environment in the United States. And I am I couldn’t be more happy about that. David Blackman articulated that very well on the Energy Realities podcast, which is also you can see this on our YouTube channel. He articulated that very well and it was very telling that the Three Mile Island accident was vandalized, if you would, or brutalized, by the way that it was reported and really ruling the atomic energy in the United States for years. So I’m hoping that this can overcome that and we can see a renaissance in nuclear energy. [00:09:51][93.5]

Stuart Turley: [00:09:52] So with that, like subscribe, also share, tell your friends. But also when you go to the energy news meet, we have resources there, Energynewsbeat.com And also check out is your portfolio. Okay. Click on that link and say, Do I really? We need a investing in oil and gas. I want to know from you. Do you need a tax deduction? Be like regular mailbox money. Let me know with that. Thanks and look forward to speaking to you tomorrow. [00:09:52][0.0][577.6]

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