Skip to main content

Argentina's world cup coincides once more with a period of severe inflation.

As the Argentina team prepares for Sunday's World Cup final, Bloomberg reported that the country's annual inflation rate is expected to exceed 99.9% this month, and economists anticipate it will shortly surpass 100.

Argentina's world cup coincides once more with a period of severe inflation.

Inflation averaged 116% in 1986, the year Diego Maradona led the Albiceleste to victory. According to central bank figures and surveys, the inflation rate in 1978, when Argentina won the tournament it hosted, was 176%.

.net/YwotbKdP4sVunJGfdhmgww/e8f260a6-84bf-4222-a093-e1ef14e44c00/

Lionel Messi, who was born a year after the 1986 triumph and is regarded by fans as the heir to Diego Maradona's legendary status, will make his final World Cup appearance against France on Sunday. Invigorated by their talisman, the team's run to the last match — from averting early elimination to racking up five consecutive victories — has thrilled a nation once again experiencing difficult economic times.

However, this continuous economic characteristic of the country is not indicative of the country's World Cup performance. In 1990, hyperinflation was over 2,000%, and the team lost the championship match. When the team lost the 2014 championship, the official loss rate was only 22%, but there was suspicion that the government had altered the numbers.

Comments

Popular posts from this blog

North Korean hackers are using almost 500 phishing domains to steal NFTs.

The hackers made fake websites that looked like NFT projects, NFT marketplaces, and even a DeFi platform. Hackers with ties to North Korea's Lazarus Group are said to be behind a massive phishing campaign that targets investors in nonfungible tokens (NFTs). The campaign uses nearly 500 phishing domains to trick people into giving away their personal information. SlowMist, a blockchain security company, released a report on December 24 that showed the methods that North Korean Advanced Persistent Threat (APT) groups have used to trick NFT investors out of their NFTs. These methods include putting up fake websites that look like different platforms and projects related to NFTs. Some of these fake websites include one that pretends to be a World Cup project and others that try to look like popular NFT marketplaces like OpenSea, X2Y2, and Rarible. SlowMist said that one of the methods was for these fake websites to offer "malicious mints," which trick the victims into thinkin...

Proof has raised $50 million in its Series A funding round, which was led by A16z.

Proof has shown that it has successfully closed a $50 million Series A round of funding led by Andreessen Horowitz. Proof's $50 million fundraising round, which was led by Andreessen Horowitz, has come to a successful end (a16z). During the funding process, there was also help from Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund. In April, Seven Seven Six put $10 million into PROOF. The company also talked about the technology that runs its Web3 platform and how it plans to grow the whole ecosystem. The company is now working on making a platform that will help NFT collectors work with communities and unlock utilities. Kevin Rose, co-founder and CEO of Proof, made the announcement, along with co-founder and Chief Product Officer Justin Mezell and Director of Product Harri Thomas. Getting money during a live-streamed event for the community. Kevin Rose said this about the fundraising: "It's great to have this vote of confidence from s...

Brazil's Federal Revenue Requires Citizens To Pay Taxes On Crypto Trades

  The Federal Revenue of Brazil wants investors to pay taxes on cryptocurrency trading profits, even if there is no exchange for Brazil's national currency. Brazil's Federal Reserve (RFB) has declared that Brazilian investors in the crypto-asset market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin (BTC) for Ethereum (ETH). The RFB's declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the country with the regulator.  At the end of last year, the group issued an opinion in which it claimed that trading between cryptocurrency pairs is taxable even if there is no conversion to the real (Brazil's national currency). Although it does not specify what can be understood as "profit," since in the exchange of one crypto asset for another there is no capital gain in fiat currency, it points out that there is, even so, the obligation to pay t...