Argentina is going to the mattresses, but not in The Godfather sense. People are taking their pesos out of Argentina banks and stuffing their mattresses. Argentina has defaulted on its sovereign debt three times in the past 32 years and it looks like they might do so again. Its currency, the peso, devalued by more than 20% in January alone. Argentina’s reserves are draining out of the banks … and into the mattresses. Meanwhile, Argentina’s deposit rates are booming. Argentina’s inflation is currently running at 10.9%. Argentina’s budget deficit is exploding. Based on credit default swap rates, Argentina leads the ... (full story)