This page has been archived and commenting is disabled.

EURCHF Tumble Continues: 100 pips In Minutes

Tyler Durden's picture


This is getting serious boys and girls. Not even an hour ago we wrote about the EURCHF taking out the record 1.1801 low. Minutes later, and the pair has now tumbled another 100 pips and just hit 1.1695 without any indication it will stop. Follow this pair for the most liquid indication if the European house of cards will tumble today. And to  celebrate the collapse of Europe's ponzi, Intesa Sanpaolo (remember them?) just got halted after tumbling over 6%.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 07/11/2011 - 08:34 | 1443142 schismjism
schismjism's picture

systemic collapse imminent. must put on underwear.

Mon, 07/11/2011 - 08:40 | 1443164 mayhem_korner
mayhem_korner's picture

You might try the new fiat liners...very absorbent.


Mon, 07/11/2011 - 08:43 | 1443172 Quintus
Quintus's picture

Paper money.  Is there nothing it can't do?

Mon, 07/11/2011 - 08:51 | 1443203 cossack55
cossack55's picture

Hold value.

Mon, 07/11/2011 - 08:53 | 1443207 Quintus
Quintus's picture


Mon, 07/11/2011 - 08:57 | 1443222 Cthonic
Cthonic's picture

Create value.

Mon, 07/11/2011 - 09:24 | 1443323 Bicycle Repairman
Bicycle Repairman's picture

Be eaten.

Mon, 07/11/2011 - 08:56 | 1443217 Fazzie
Fazzie's picture

 Make sense, made of cotton and linen just like underwear and you want to protect the more valuable item!

Mon, 07/11/2011 - 08:45 | 1443179 Long-John-Silver
Long-John-Silver's picture

Today is the day for Depends.

Mon, 07/11/2011 - 08:58 | 1443227 Cognitive Dissonance
Cognitive Dissonance's picture

I stocked up over the weekend.

Mon, 07/11/2011 - 09:02 | 1443244 TruthInSunshine
TruthInSunshine's picture

Those are going to be worth their weight in gold when the shit hits the fan.

Mon, 07/11/2011 - 09:03 | 1443245 SheepDog-One
SheepDog-One's picture

Get the ones with extra big load holding strentgh.

Mon, 07/11/2011 - 09:12 | 1443280 Sudden Debt
Sudden Debt's picture

you're a connaisseur he?


Mon, 07/11/2011 - 09:14 | 1443296 SheepDog-One
SheepDog-One's picture

Just sayin, in the coming days...better go for the heavy duty version.

Mon, 07/11/2011 - 09:24 | 1443324 Cognitive Dissonance
Cognitive Dissonance's picture

Ed Norton of "Honeymooners" fame: "I'm a conniesewer and proud of it."

Mon, 07/11/2011 - 14:38 | 1444786 jerry_theking_lawler
jerry_theking_lawler's picture

there is a huge market for 'fluff pulp' i know why...

Tue, 07/12/2011 - 21:40 | 1450174 MGHJFHD
MGHJFHD's picture

Hi there could I reference some of the insight from this entry if I provide a link back to your site?


We have created the most unique and exclusive bridal experience to ensure you discover the perfect dresses bridal petticoat|bridal headbands|clutch bags|cheap handbags|bridal lingerie so you not only look beautiful, but feel beautiful for all of life's special moments.

Mon, 07/11/2011 - 08:35 | 1443144 Mongo
Mongo's picture

Gravity works in magical ways...

Mon, 07/11/2011 - 08:47 | 1443188 LawsofPhysics
LawsofPhysics's picture

Do people still believe in gravity?  I haven't heard a sermon on it in a while.

Mon, 07/11/2011 - 09:15 | 1443297 Sudden Debt
Sudden Debt's picture

Just take a picture from when your wife was 18 years old and have a look to her now...

Gravity.... it's a bitch...


Mon, 07/11/2011 - 08:35 | 1443146 doggings
doggings's picture

we need the "deer in headlights" pic I believe

Mon, 07/11/2011 - 08:59 | 1443228 Fazzie
Fazzie's picture

 Yes, I crack up every time I see that pic!

Mon, 07/11/2011 - 08:36 | 1443150 kaiten
kaiten's picture

Switzerland will soon enter deflationary depression.

Mon, 07/11/2011 - 08:52 | 1443205 cossack55
cossack55's picture

How will that affect the price of their choclolate bars. They have wonderful choclolate.  Their cows are pretty too.

Mon, 07/11/2011 - 08:55 | 1443216 Joe Sixpack
Joe Sixpack's picture

What does that have to do with the price of tea in China?

Mon, 07/11/2011 - 09:00 | 1443234 Josh Randall
Josh Randall's picture

But I made such wonderful sandwiches Tony...

Mon, 07/11/2011 - 09:04 | 1443247 shortus cynicus
shortus cynicus's picture

One can simply sell his kidney and lease it back for tax deduction.

Mon, 07/11/2011 - 09:00 | 1443237 cossack55
cossack55's picture

That cesium and strontium were detected in Chinese tea, and not in Swiss cows (so far).

Mon, 07/11/2011 - 08:37 | 1443152 oogs66
oogs66's picture

SOVX has been breaking apart.  Out 33 bps to 292 today.  Liquidity totally gone.  Hitting other credit markets.  Equities have ignored sovereign debt problems for almost 2 weeks, could be ugly in a hurry.

Mon, 07/11/2011 - 10:04 | 1443460 chartcruzer
Mon, 07/11/2011 - 10:38 | 1443632 unununium
unununium's picture

Bitcoin down.  Specs must need the money to cover their losing swissie shorts.

Mon, 07/11/2011 - 08:37 | 1443153 Ethics Gradient
Ethics Gradient's picture



Mon, 07/11/2011 - 08:37 | 1443155 THE DORK OF CORK
THE DORK OF CORK's picture

I bought 750 physical Francs back in the early Spring - just to get me through a week or two of a possible currency event - me thinks I should have bought 7500 Francs

Mon, 07/11/2011 - 08:43 | 1443176 mayhem_korner
mayhem_korner's picture long was the delivery lag?

My PM delivery lags have widened by > week, and I'm seeing lots of dealers running very short on what they have "in stock."

Mon, 07/11/2011 - 08:53 | 1443211 THE DORK OF CORK
THE DORK OF CORK's picture

Mayhem - I'm talking about physical PAPER currencies - the last thing you want to do in a crisis is sell your Gold.

Mon, 07/11/2011 - 09:05 | 1443254 mayhem_korner
mayhem_korner's picture

Huh?  I'm buying, not selling.  I was referring to the lag it takes for the dealers to deliver TO me.

Mon, 07/11/2011 - 08:39 | 1443163 mayhem_korner
mayhem_korner's picture

Euro fleeing to perceived safety of (gold-backed) currency, as well as USD.  The timing of this is uncanny, as the flight away from tattered Euro and dead PIIGS debt mask the plight of the USD.

Once the debt-ceiling is passed (which will be like a payday for the administration on its way to Atlantic City casinos), the value of the "deal" wil be halved (at best) and the free fall will continue under the guise of (euro) darkness.

I'm not bettor, but if I was I'd say the rubber meets the road when the $500B of maturing T's hits in what, 45 days?  Then the sound of twisting metal...

Mon, 07/11/2011 - 09:12 | 1443285 r101958
r101958's picture

All meant to suppress commodities and support treasuries.

Mon, 07/11/2011 - 08:43 | 1443173 qussl3
qussl3's picture

The swiss better be careful, not too far from really pissing people off with this flirting with gold.

The Alps aint the same in the 21th century.

Tue, 07/12/2011 - 09:21 | 1447391 Urban Redneck
Urban Redneck's picture

The SVP is backing the initiative - that means "nothing for foreigners" in English. 

Mon, 07/11/2011 - 08:43 | 1443175 johngaltfla
johngaltfla's picture


And EUR/JPY isn't much better, broke the 114 Maginot Line....

Mon, 07/11/2011 - 08:47 | 1443189 augie
augie's picture

:) all the way to the bank. Errr, in my case all the way to my coin dealer. BURN BABY BURN!

Mon, 07/11/2011 - 09:01 | 1443239 SheepDog-One
SheepDog-One's picture

Maginot Line lol....RETREAT!!!

Mon, 07/11/2011 - 09:14 | 1443290 Sudden Debt
Sudden Debt's picture

You call it bloodbath, I call it time of the month.



Mon, 07/11/2011 - 09:16 | 1443302 SheepDog-One
SheepDog-One's picture

Nevermind those 20 foot dark outlines circling below....

Mon, 07/11/2011 - 09:23 | 1443318 Sudden Debt
Sudden Debt's picture

That are called the mood swings...

They'll bite you in the ass when you take notice and even when you don't take notice...

They come out of nowhere and bite you whitout any logical reason...

You can only chase them away by throwing your credit card to them, something made out of gold with a diamond or if you're lucky with a bouquet of flowers.




Mon, 07/11/2011 - 09:26 | 1443338 augie
augie's picture

You been hanging out in the "red light" district again? 

Mon, 07/11/2011 - 08:45 | 1443181 monopoly
monopoly's picture

Wow, what is an investor to do. I guess treasuries are the best investment now. WRONG!

Mon, 07/11/2011 - 08:46 | 1443183 TruthInSunshine
TruthInSunshine's picture

I'm not saying this because of the fairly dramatic intraminute action this am (U.S. time), but I and many have recognized that the euro was doomed from the start (as did many Brits, who decided to hedge accordingly).

How many different kinds of cheeses are there in France alone, and how hard was it to try and hold that place together throughout a history of attempted conquests?

Does anyone or no one agree that the Eurozone is already in a state of economic disintegration, in no small part due to their vastly different cultures and financial condition from nation to nation (Germany v Italy, etc.)?

It's hard enough to arrive at consensus in the U.S. together with the whole Red State/Blue State thing, or Canada together with the whole French/English spat.

The Eurozone is magnitudes and multiples more complex than any other economically integrated area using a common currency that anything the world has ever seen, and it should be fairly obvious that the experiment is inevitably destined for complete failure, no matter how the winding up takes place.

Mon, 07/11/2011 - 08:48 | 1443194 qussl3
qussl3's picture

But China is different, them Chinese will save the world!


Mon, 07/11/2011 - 08:58 | 1443229 Joe Sixpack
Joe Sixpack's picture

What does that have to do with the price of chocolate from Switzerland?

Mon, 07/11/2011 - 09:08 | 1443268 qussl3
qussl3's picture

About the same as how many cheeses there are in france.

Mon, 07/11/2011 - 09:12 | 1443284 TruthInSunshine
TruthInSunshine's picture

Wait, I just thought of something important.

The Chinese don't eat cheese, do they?

Mon, 07/11/2011 - 09:18 | 1443305 qussl3
qussl3's picture

Nah, I'm sure the Han, Tibetans, Uighurs, Xinjiang Moslems all get along over some gourmet cheese.


Mon, 07/11/2011 - 09:29 | 1443349 augie
augie's picture

If they had a taste for it, i'm sure they could figure out how to make it cheaper and with more chemicals...,business,chinas-thirst-for-fine-wine...

Reverse engineer my nuts China. 

........('(...´...´.... ¯~/'...') 
..........''...\.......... _.·´ 

Mon, 07/11/2011 - 09:06 | 1443259 pops
pops's picture

Yall worry too much about stuff you can't do a thing about.

Grab your hat and come with me........


Mon, 07/11/2011 - 09:11 | 1443260 Cthonic
Cthonic's picture

The Eurozone is magnitudes and multiples more complex than any other economically integrated area using a common currency that anything the world has ever seen




Soviet Union

Qing Dynasty

British Empire

Napoleonic France

Habsburg Spain

Ottoman Empire

Roman Empire

Mon, 07/11/2011 - 09:20 | 1443301 TruthInSunshine
TruthInSunshine's picture

I maintain my argument.

India? China? Napoleonic France? Complicated, maybe, but the cultural ties were clearly more in synch, even beween warring factions, and there was an iron fist in the form of a dominant, central military force to lay down the law when need be.

Of your list, the only one that caused me to opinion check myself was the Roman Empire, but even that was a far simpler system, as it was akin to paying tribute to Rome with gold, spice and seed crops, lest Rome send the collection force.

The Eurozone knows no such simple dynamic and has no such basic mechanism. I do not see Germany invading Greece or Italy in the near future.

Mon, 07/11/2011 - 09:07 | 1443263 WonderDawg
WonderDawg's picture

The EU's days were numbered from the start. Conceived during a period of global optimism, it was a hopeful coalition as old conflicts were temporarily overlooked. Now, as the collective social mood turns from optimism to pessimism, previous wounds are reopened and previous conflicts are renewed as the hopeful coalition disintegrates.

Mon, 07/11/2011 - 14:29 | 1444757 JeffB
JeffB's picture

On the other hand, I think a world of countries quite disparate economies could function far better under a single non-fiat currency, such as gold or silver coins.

Trying to subjectively juggle the value of currencies to goose or suppress currencies to the tune of political entities' whims is far more problematical in my opinion.


Mon, 07/11/2011 - 08:46 | 1443184 mayhem_korner
mayhem_korner's picture

From the prophet Burl Ives...

Mon, 07/11/2011 - 08:46 | 1443186 RobotTrader
RobotTrader's picture

Hilarious how there has been all this hoopla about the debt ceiling and speculators are now piling into Uncle Gorilla notes and USDX with utter panic and fear.

Mon, 07/11/2011 - 08:48 | 1443195 tmosley
tmosley's picture

They are buying more gold and CHF, you moron.

Mon, 07/11/2011 - 08:58 | 1443230 lieutenantjohnchard
lieutenantjohnchard's picture

you do a disservice to morons when you comapre robotard to morons.

Mon, 07/11/2011 - 09:38 | 1443384 SheepDog-One
SheepDog-One's picture

Gentleman Jim pummeling Robos nuts into pudding!

Mon, 07/11/2011 - 09:04 | 1443248 SheepDog-One
SheepDog-One's picture

Robo all I can say to your post is ....duh....

Mon, 07/11/2011 - 09:51 | 1443427 RockyRacoon
RockyRacoon's picture

I just realized that you chose the proper user name.   Your comments indicate a robotic trading mentality.   At least you're consistent -- consistently poor.

Mon, 07/11/2011 - 08:46 | 1443187 Pullmyfinger
Pullmyfinger's picture

Euro dramatically declines, pushing up gold while the dollar surges; surge in gold then liquidates dollar; the euro then re-emerges as a gold-backed, Germanany-centric currency and the "euro" becomes the heir of the old deutchmark; Germany spontaneously becomes a world superpower in control of Europe; the dollar implodes completely. The End of the Beginning has begun.

Mon, 07/11/2011 - 09:35 | 1443319 THE DORK OF CORK
THE DORK OF CORK's picture

Or is it the Beginning of the End ?

 Interest free money bitches................................

Of course the debt junkies have a nasty habit of producing things like Spitfires & Micheal Canes..........


Mon, 07/11/2011 - 08:47 | 1443190 monopoly
monopoly's picture

So now we are going to pay Timmaayy to keep our hard earned dollars safe. Interest rates on our savings going to 0

Mon, 07/11/2011 - 08:58 | 1443226 SheepDog-One
SheepDog-One's picture

Thats OK, interest rates replaced with physical gold holdings, the great secret central banksters hoped no one would ever realize.

Mon, 07/11/2011 - 08:47 | 1443193 RobotTrader
RobotTrader's picture

Hey, maybe for once...

LULU, NFLX, AMZN, etc. will finally have a down day?

Mon, 07/11/2011 - 09:10 | 1443274 Internet Tough Guy
Internet Tough Guy's picture

So much for the 'formula'. Gold up, stocks down. Did you fade yourself Momo?

Mon, 07/11/2011 - 09:17 | 1443304 SheepDog-One
SheepDog-One's picture

Momo fade himself? Nah! Couldnt be!

Mon, 07/11/2011 - 09:21 | 1443312 lieutenantjohnchard
lieutenantjohnchard's picture

btw: the old schroomer as you call him, gentleman jim sinclair, sends warm regards. said he wishes you all the best with your widows and orphans portfolio and hopes that one day you'll outgrow your little girl skirt of mo, hd and vz and start wearing adult pants.

Mon, 07/11/2011 - 08:50 | 1443200 papaswamp
papaswamp's picture

Govt/banksters will step in any moment if they haven't already.

Mon, 07/11/2011 - 08:53 | 1443210 Yen Cross
Yen Cross's picture

 Imagine that? Did we not discuss the crosses 2 hours ago?

Mon, 07/11/2011 - 08:53 | 1443212 mynhair
mynhair's picture

It's just a transitory bear trap.

Mon, 07/11/2011 - 08:53 | 1443214 RichyRoo
RichyRoo's picture

snap +1tn BennyBucks

Mon, 07/11/2011 - 08:54 | 1443215 SwingForce
SwingForce's picture

"Reverse Accumulation" gaining traction.

Mon, 07/11/2011 - 08:57 | 1443221 SheepDog-One
SheepDog-One's picture

Greenie projectile puking torrents of blood on his 1.46 Euro trade.

Mon, 07/11/2011 - 08:59 | 1443233 mynhair
mynhair's picture

Hear he has a problem with 'spot' and 'stop'.

Mon, 07/11/2011 - 09:00 | 1443236 SheepDog-One
SheepDog-One's picture

'Broke? Bankrupt? Gubment after your house? Chap 13 may be an option for Jude Law'
Awesome ad Tyler!

Mon, 07/11/2011 - 09:04 | 1443249 Yen Cross
Yen Cross's picture

 Now Cramer is talking greek bonds ,And the tool is so out of touch that he can't even spot China? What an ass clown.

Mon, 07/11/2011 - 09:19 | 1443306 qussl3
qussl3's picture

China will save the world!

The AUD is proof!

Mon, 07/11/2011 - 09:21 | 1443314 TruthInSunshine
TruthInSunshine's picture

If China could manage to save the Australian housing market from collapse, I'd be shocked.

Mon, 07/11/2011 - 09:26 | 1443334 Yen Cross
Yen Cross's picture

 Gotta love that carry trade..Are you listening RBA?

Mon, 07/11/2011 - 09:46 | 1443407 qussl3
qussl3's picture

It's almost as if the AUD is a safe haven, with carry.

A new normal, paradigm shift, permanently high plateau.

This will end well lol.

Mon, 07/11/2011 - 09:05 | 1443256 misterc
misterc's picture



I hope I'll make it to the ATM before the EU press conference starts...

Mon, 07/11/2011 - 09:05 | 1443257 Flore
Flore's picture

it's all fiat money... the final rush for safety will be into gold..and gold only... so buy it now.. instead of running elsewhere for cover

Mon, 07/11/2011 - 09:10 | 1443273 fonestar
fonestar's picture

Caviar dreams and champagne wishes!


...oh and die mothafukka DIE!!


(got silver??)

Mon, 07/11/2011 - 09:11 | 1443279 swissinv
swissinv's picture

don't forget that the SNB is losing a hell lot of money with a diving EUR

Mon, 07/11/2011 - 09:12 | 1443281 swissinv
swissinv's picture

don't forget that the SNB is losing a hell lot of money with a diving EUR

Mon, 07/11/2011 - 09:13 | 1443287 Caviar Emptor
Caviar Emptor's picture

On a day like today those little pieces of paper seem utterly worthless (stocks). 

Mon, 07/11/2011 - 09:21 | 1443310 SheepDog-One
SheepDog-One's picture

They really are. Stocks are an illusion, backed up with promisory notes, which in turn are only supported by a religious belief system 'LEGAL tender backed by criminal Federal Reserve'. Ponzi.

Mon, 07/11/2011 - 09:15 | 1443292 newstreet
newstreet's picture

I've been reading ZH for a year and a half.  Robot is one of the few here who is even close on calling the markets - entertaining too.  The rest of you must be paper traders - else you would be to busy washing dishes to comment.

Mon, 07/11/2011 - 09:35 | 1443337 TruthInSunshine
TruthInSunshine's picture

I've been reading ZH for a year and a half [and now will make a statement regarding much longer time horizons, or even slightly longer ones, based on extrapolation from that mere year and a half, which was full of unprecedented Ponzinomics style interventionism by the Global Central Banksters].


Yes. It's all so clear now. How could we not see his brilliance?

Mon, 07/11/2011 - 09:36 | 1443376 SheepDog-One
SheepDog-One's picture

LOL, funny stuff Newstreet!

Mon, 07/11/2011 - 09:14 | 1443294 Internet Tough Guy
Internet Tough Guy's picture

China buys euros and euro-denominated bonds in anticipation of freegold. CHF is too small, and they already have too many USD. If I was China I would buy more euros.

Mon, 07/11/2011 - 09:34 | 1443366 TruthInSunshine
Mon, 07/11/2011 - 09:25 | 1443325 rsnoble
rsnoble's picture

Good, I hope the EU does fall apart.  Failed experiment for creating blocks and then on to world govt.  Of course all the little people will get destroyed but that beats putting your sexy little communist uniform on everyday.

I don't by into the 'planned collapse' so save your breath.  The elite have big plans for us, it didn't work and instead of abonding ship they are blinded by the fruit of the endgame and keep forging forward to that end goal.  Problem is they're now taking 2 steps forward and 3 back.  They'll kick, whine and cry all the way to the zero line.

Mon, 07/11/2011 - 09:30 | 1443358 steve from virginia
steve from virginia's picture

People are buying Swiss because everyone else is buying Swiss.

That's not much of a reason.

I guess nobody is going to shopping in Europe, let's all short car companies in Euroland.

The positive 'take' is perhaps some 'entity' will start giving bondholders the haircuts they earned with reckless lending. Right now, catering to bondholders has accomplished what, exactly?

Capital flight and very high lending rates, a boost for gold and an overall decline in business.

Governments can and always have been able to fund themselves by issuing currency over assets the governments possess including the authority to levy taxes. A short, self funding period would give the bond markets a good idea of their true place in this world. A self-funding period would also allow time for proper criminal investigations of lending business practices. This would allow different parties -- borrowers AND lenders -- to challenge improperly tendered loans and to liquidate them.

90 days without cash flow to bond markets would probably put most bondholders @ the brink of collapse so the EU has a lot of bargaining power, it just chooses not to use it.


Mon, 07/11/2011 - 11:04 | 1443806 newstreet
newstreet's picture

.......and Dennis Kneale was right too.  oh yeah, and so was Joe Granville.

Mon, 07/11/2011 - 12:22 | 1444220 freethinker4now
freethinker4now's picture


Do NOT follow this link or you will be banned from the site!