‘World War III has already begun,’ Jamie Dimon warns — says he and his team are preparing for serious conflict with Russia, China. 3 assets to protect yourself in 2025

“World War III has already begun. You already have battles on the ground being coordinated in multiple countries,” Dimon said at the annual event in Washington, DC on Oct. 24.

Dimon also claimed the cooperation between China, Russia, Iran, and North Korea to dismantle the Western world order far outweighed any financial issues.

Western powers, including NATO allies, have been pitted against Russia after it invaded Ukraine in 2022. Meanwhile, North Korea has sent an estimated 12,000 soldiers to fight with Russia in Ukraine, CNN reported.

Iran has become involved in the Israel-Palestine conflict, firing missiles on the West’s closest ally in the Middle East, and tensions continue to rise with China following its crackdown in Hong Kong and threatening Taiwan's sovereignty.

JPMorgan Chase has “run scenarios that will shock you” in preparation for a global conflict, Dimon told the audience.

Curious timing

Dimon’s alarming comments came on the same day as the conclusion of the BRICS Summit, where Brazil, Russia, India, China, and South Africa met with a group of non-Western countries in order to deepen their integration.

Other countries included in the summit are Egypt, Ethiopia, Iran, and the United Arab Emirates.

However, Dimon may have had other reasons much closer to home for speaking on geopolitics to a finance crowd.

According to the New York Times, Dimon privately supports Kamala Harris for president, but doesn’t want to do so publicly out of fear of retribution from Donald Trump if he wins the presidency.

Additionally, Dimon would potentially accept a position as Treasury Secretary in a Harris administration, if she wins the election, according to reports.

Support for Dimon as a future Treasury Secretary has been long talked about, including from three Republican Senators. Dimon is a registered Democrat.

Despite the stars seemingly aligning for Dimon, he told an earnings call in early October that he thought the chances of being nominated for the position “were almost nil.”

Sources close to Dimon said he still believes that’s the case, as reported by Reuters.

What to own in times of crisis

Dimon's fears might inspire you to start thinking about your own response to instability.

Certainly, bunkers are a lot more affordable than they used to be. But you don't have to be worried about a doomsday scenario to start thinking about protecting your money.

Given the ongoing conflicts around the world and other uncertainties looming in the distance, it might be tempting to hide out in cash.

But many market veterans, including Warren Buffett, don't exactly believe in stashing your savings under the mattress.

“The one thing you can be quite sure of is if we went into some very major war, the value of money would go down,” he told CNBC in 2014. “That's happened in virtually every war that I'm aware of. So the last thing you'd want to do is hold money during a war.”

Consumers have learned first-hand the risk of holding money over the past few years of rampant inflation. What should investors own instead?

Buffett has always believed in productive assets, and he stands by that even in times of crisis.

“You might want to own a farm, you might want to own an apartment house, you might want to own securities,” he said.