#859 Inflation Is Officially Out Of Control

This episode is a little different than the usual podcast format. There is no guest. Instead, I will share a couple of thoughts I have around a specific topic. Today I discuss Inflation hitting a four-decade high of 7.9%. What does this mean for future monetary policy? And what you should be doing now with your finances. ======================= Today’s episode is brought to you by Coinbase Wallet, your key to the world of crypto. Crypto wasn’t made to just buy, sell, and hodl. With Coinbase Wallet, you can do so much more: Collect more NFTs, earn more with DeFi, and trade more than 4,000 tokens. Whether you’re looking to play, stake, spend, or just explore a trending new protocol — Coinbase Wallet is your key to more. Long-time HODLers already know that wallets are a must-have if you want complete control of your crypto. That’s why Coinbase Wallet makes self-custody simple, while providing the safety and security of the most trusted name in crypto. Visit http://coinbase.com/wallet to learn more. ======================= If you’re a regular listener of the podcast, I would bet that two things are true: First: You’re passionate about Web3 and protecting your personal data And two: that you’re a human. If I’m right, then congratulations! You’re entitled to all the benefits of the decentralized web. But there’s a catch: As Web3-enabled tech — like NFTs, smart contracts, and DAOs — drive more elements of our “real world” lives online, proving that you’re a person – without surrendering personal data – becomes exponentially more valuable. And exponentially more difficult. This is why Unstoppable Domains launched Humanity Check. Humanity Check proves that you’re, well, you – without revealing personal data. No matter where you go on the web, you’ll have total control over which apps you want to share data with…and which ones you don’t. Prefer to be completely clouded in mystique? No worries - Humanity Check is 100% opt in. If you want to feel alive, or at least prove you are, head to http://UnstoppableDomains.com and get your NFT domain with Humanity Check. ======================= Cryptocurrencies offer boundless potential, but how will you protect your crypto? Arculus is the next generation crypto cold storage wallet that combines the world’s strongest security protocols on the Arculus Key Card with an easy-to-use Arculus Wallet App. With over 20 years of experience developing leading-edge secure payment technologies, CompoSecure created Arculus to give you the power to protect your financial future. You can buy, store, swap, send and receive your crypto with a simple tap of your Arculus Key Card to your mobile device. Your private keys are encrypted on the Arculus Key Card and they never leave it. Stay safe from hackers with no cords; no charging; no Bluetooth. The only person accessing your crypto... is you. Buy Arculus on Amazon today. =======================

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02Anthony Pompliano?

  What's up everyone, this is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp Podcast, simply the best podcast out there. Now let's kick this thing off. This episode covers the recent inflation report and also talks about what we as citizens can do to help each other get through this trying time. I really hope that you enjoy these deep dive episodes. I really enjoy recording them. Before we get into this episode, though, I want to quickly talk about our sponsors. Today's episode is brought to you by Coinbase Wallet, your key to the world of crypto. Crypto wasn't made to just buy, sell, and hold. With Coinbase Wallet, you can do so much more. Collect more NFTs, earn more with DeFi, and trade more than 4,000 tokens. Whether you're looking to play, stake, spend, or just explore a trending new protocol, Coinbase Wallet is

• 0:46Anthony Pompliano?

  your key to more. Longtime holders already know that wallets are a must-have if you want complete control of your crypto. That's why Coinbase Wallet makes self-custody simple, while providing the safety and security of the most trusted name in crypto. Visit coinbase.com/wallet to learn more. Again, that's coinbase.com/wallet and learn more today. Today's episode is brought to you by Unstoppable Domains. If you're a regular listener of this podcast, I bet that the two things are true. First, you're passionate about Web 3 and protecting your personal data, and two, you're a human being. If I'm right, then congratulations, you're entitled to all the benefits of the decentralized web. But here's the catch: As Web 3-enabled technology like NFTs, smart contracts, and DAOs dive more elements

• 1:30Anthony Pompliano?

  of our real-world lives online, proving that you're a person without surrendering your personal data becomes exponentially more valuable and exponentially more difficult at the same time. This is why Unstoppable Domains launched Humanity Check. Humanity Check proves that you're, well, you, without revealing any of your personal data. No matter where you go on the web, you'll have total control over which apps you want to share your data with and which ones you don't. Prefer to be completely clouded and mystique? No worries, Humanity Check is 100% opt-in. If you want to feel alive, or at least prove you are, head to unstoppabledomains.com today and get your NFT domain with Humanity Check. Again, head on over To unstoppable domains.com and get your NFT domain with humanity check today.

• 2:15Anthony Pompliano?

  Today's episode is brought to you by Arculus. Cryptocurrencies offer boundless potential, but how will you protect your crypto? Arculus is the next generation crypto cold storage wallet that combines the world's strongest security protocols on the Arculus key card with an easy to use Arculus wallet app. With over 20 years of experience developing leading edge secure payment technologies, Composerv created Arculus to give you the power to protect your financial future. You can buy, store, swap, send and receive your crypto with the simple tap of your Arculus key card to your mobile device. Your private keys are encrypted on the Arculus key card and they never leave it. Stay safe from hackers with no cords, no charging, no Bluetooth. The only person accessing your crypto is you. You can buy Arculus on Amazon today.

• 2:58Anthony Pompliano?

  Go check it out and see what all the hype is about. All right, let's get in this episode. I hope you guys enjoy this one.

• 3:04Speaker 01

  Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.

• 3:27Anthony Pompliano?

  Good morning, everyone. Bang, bang. Inflation was officially reported at 7.9% this morning, which is the highest inflation that the United States has experienced in more than 40 years. Core inflation, which excludes food and energy, is up 6.4% over the last 12 months. If we look at the breakdown of specific components in the Consumer Price Index, it becomes obvious that the average American is in a dire financial position. According to the government, it now costs 8.6% more to eat food in your home than it did a year ago. It costs 38% more to fill up your car with a tank of gasoline. Your electricity bill is 9% more expensive. These numbers are mind boggling. High inflation is not just happening in the United States, though.

• 4:09Anthony Pompliano?

  The ECB increased their 2022 inflation forecast from 3.2 to 5.1% this morning. That's more than a 50% increase in their expectation for inflation in this year. The important thing to call out is that these numbers are the official calculations, according to the government and/or central banks, which are incentivized to report the lowest numbers possible. There is widespread belief that the real inflation, especially what is experienced by the lowest income brackets, is well into the double digits at the moment. Almost half, about 45% of Americans, own no investable assets. This means they live paycheck to paycheck and have their entire savings in cash. These approximately 150 million people are being punished because of the undisciplined monetary

• 4:54Anthony Pompliano?

  and fiscal policy that has been pursued over the last 24 months. You can't print trillions of dollars, manipulate interest rates to 0%, and conduct an enormous amount of asset purchases while simultaneously expecting no negative ramifications. The establishment, both economists and the media, have been presenting the idea that inflation wasn't going to happen, then that it was simply transitory, and now that it is supposedly somehow good for you. Obviously, this is all wrong. It always has been. Inflation was the natural outcome of these activities. Combine the current economic situation with the new Russia-Ukraine conflict, and you have a recipe for disaster. The Federal Reserve can't raise interest rates aggressively because we now have risks spiraling into a recession.

• 5:38Anthony Pompliano?

  Inflation or recession, pick your poison. Maybe we get both. The whole situation is unfortunate, and there is no clear off-ramp. While the economists, central bankers, and people in positions of power and influence try to address the current crisis, the average citizen is suffering. This highlights a severe lack of financial education in the United States and abroad. Inflation has been punishing those with no investable assets, but the wealthy, who store a majority of their net worth in investable assets, have been getting wealthier and wealthier at the same time. The United States is currently engaged in an economic war with an invisible enemy. Inflation silently erodes the wealth of those saving in dollars. Wealthy individuals know that you can't save your way to financial security. You have to learn to invest.

• 6:23Anthony Pompliano?

  You have to gain the knowledge needed to protect yourself from the invisible enemy. One of the most important things we can do right now is to immediately educate as many people as possible in personal finance topics. The faster we teach them about money, inflation, and personal finance, the quicker they will be armed with the information necessary to make sound decisions that benefit them and their families. I won't hold my breath for a national personal finance education campaign, though. There's no good answer on how we get out of the current economic crisis. Inflation is raging and a recession is peaking out around the corner. The central bankers and politicians who oversee monetary and fiscal policy have an impossible job. No matter what they do, they'll be wrong. Complaining about these issues is no longer a productive exercise.

• 7:05Anthony Pompliano?

  We simply have to educate as many people as we can and help to position them to become immune to these issues. It is difficult work. It will take a long time. But rather than complain, we have to educate. That is the only hope that the average citizen has at this point. If not, inflation will continue to eat away at their wealth and the vicious cycle of falling behind will continue to persist. Hope each of you has a great day and I'll talk to you all tomorrow. Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you subscribe on Apple, Spotify, or your favorite podcast player. And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to pompscryptocourse.com. We've developed a curriculum with the top teams across the industry.

• 7:49Anthony Pompliano?

  It's a three-week intensive training program with over 50 events packed into that three-week time period. Go to pompscryptocourse.com to learn more and I'll meet you guys for the next episode.