Things that may not happen anywhere else...
Someone on Facebook asked a question about investing 1 million pesos in an Argentine bank offering 35% interest
Quote...for example inflation last year was nearly 60% So 1 million pesos by the end of a year would have lost 60% of its value because of depreciation. 35% interest rate means in real terms the gain is 25% behind the price of goods and so you are actually losing money. Welcome to Argentina. Only way to protect money is to spend it or change it for USD.
