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Oil is under $70 and people think inflation is going much higher. Couldn’t be me.

The author notes that oil prices have fallen below $70, yet some people still expect inflation to rise significantly, expressing skepticism about that outlook.

Background

- Anthony Pompliano ("Pomp") is a prominent crypto investor and podcast host known for bullish takes on Bitcoin and contrarian macroeconomic views. - Crude oil prices are often seen as a leading indicator of inflation; falling oil prices (under $70/barrel) typically reduce transportation and production costs, putting downward pressure on inflation. - Pomp is signaling a disconnect between market sentiment (fear of rising inflation) and the actual commodity signal (cheaper oil), suggesting the panic may be overblown. - Context: This tweet came during a period (likely 2023-2024) when the US Federal Reserve was raising interest rates to combat high inflation, and many pundits warned inflation would stay "sticky" or reignite.

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