Arthur Hayes Warns JPMorgan’s $1.5T Plan, “QE4 for the Poor”
- Arthur Hayes says JPMorgan’s $1.5T credit plan mirrors a new wave of quantitative easing.
- He warns that large-scale lending could weaken the dollar and boost Bitcoin’s next rally.
- Hayes calls this phase “QE for the Poor,” predicting liquidity will fuel digital asset growth.
BitMEX co-founder Arthur Hayes has reignited debate about U.S. monetary policy after claiming that America’s banking system is entering what he calls a “QE 4 Poor People.” His comment followed JPMorgan’s announcement of a massive new financing initiative aimed at boosting U.S. industry, defense, and technology sectors. Hayes suggested the move could mirror past rounds of quantitative easing, with banks expanding credit creation to stimulate economic activity.
JPMorgan’s $1.5 Trillion Financing Plan
The discussion began after JPMorgan revealed a sweeping plan to facilitate up to $1.5 trillion in financing and investments over the next decade. The initiative, called the “security and resiliency” program, targets four major sectors: supply chain and manufacturing, defense and aerospace, energy independence, and frontier technologies like artificial intelligence and quantum computing.
According to JPMorgan, the strategy aims to strengthen the U.S. economy by improving industrial output and supporting strategic industries critical to national security. The bank said it had already planned around $1 trillion in funding but will increase the figure by 50% under this new initiative.Hayes interpreted the move differently. In a post on X, he wrote,
Banksters got the hint led by the Grand Master Jamie Dimon, time to create credit and lend to US industry. More dollars, more $BTC number go up! QE 4 Poor People in action.
The post referred to JPMorgan CEO Jamie Dimon as the “Grand Master,” suggesting that the banking giant is leading a coordinated effort to inject liquidity into key economic sectors. Hayes argued that this large-scale credit expansion closely resembles quantitative easing, even though it is being directed through private lending rather than central bank asset purchases.
Hayes Links Credit Expansion to Bitcoin Growth
Quantitative easing, or QE, traditionally involves central banks purchasing government securities to increase money supply and encourage borrowing. Hayes implied that this new wave of credit creation, though not officially QE, could have a similar effect by increasing the flow of dollars in the economy.
He referred to it as ‘QE 4 the poor’ implying that while previous QE rounds benefited financial institutions and investors, this new phase will focus on industrial and technological growth. However, Hayes believes the end result will still be inflationary, pushing investors toward Bitcoin as a hedge against dollar debasement.
Crypto analysts have increasingly echoed similar views, suggesting that credit-driven industrial policies could quietly reignite liquidity in global markets. More liquidity, they argue, tends to lift risk assets, including Bitcoin, which recently recovered above $112,000 after a brief correction.
Hayes has maintained a bullish outlook on Bitcoin’s long-term trajectory. During Cointelegraph’s recent LONGITUDE event in Singapore, he predicted Bitcoin could reach $3.2 million in the coming years. He said continued U.S. monetary expansion would send large amounts of new capital into Bitcoin and digital assets.
According to Hayes, the next market phase will focus on projects with strong cash flow and profitability. He described it as “fundamental season,” where blockchain projects generating real revenue will outperform speculative tokens. Hayes also expects digital asset treasuries (DATs) to attract institutional investors seeking indirect exposure to crypto, concentrating most of the capital in leading firms like Strategy and Bitmine.
Related: Arthur Hayes Claims That Banks Embrace the Debasement Trade
Broader Implications for the U.S. Economy
JPMorgan’s industrial credit plan aligns with growing government efforts to reindustrialize America and reduce dependency on foreign supply chains. Analysts note that the plan has the potential to transform the manufacturing potential of the U.S. over the next decade while stimulating job creation in emerging sectors like AI and defense technology.
