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%.

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schismjism's picture

systemic collapse imminent. must put on underwear.

mayhem_korner's picture

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


Quintus's picture

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

Fazzie's picture

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

TruthInSunshine's picture

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

SheepDog-One's picture

Get the ones with extra big load holding strentgh.

Sudden Debt's picture

you're a connaisseur he?


SheepDog-One's picture

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

Cognitive Dissonance's picture

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

jerry_theking_lawler's picture

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

MGHJFHD's picture

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Mongo's picture

Gravity works in magical ways...

LawsofPhysics's picture

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

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...


doggings's picture

we need the "deer in headlights" pic I believe

kaiten's picture

Switzerland will soon enter deflationary depression.

cossack55's picture

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

Joe Sixpack's picture

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

Josh Randall's picture

But I made such wonderful sandwiches Tony...

shortus cynicus's picture

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

cossack55's picture

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

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.

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

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."

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.

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.

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...

r101958's picture

All meant to suppress commodities and support treasuries.

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.

Urban Redneck's picture

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

johngaltfla's picture


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

augie's picture

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

SheepDog-One's picture

Maginot Line lol....RETREAT!!!

Sudden Debt's picture

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



SheepDog-One's picture

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

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.




augie's picture

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

monopoly's picture

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

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.