ZeroHedge: EURCHF Crashing After Hours On Italian Bank Run Concerns!

• I do not want to be a pain in the butt repeating the same scenario over and over again. But it is necessary for the many sheeple zombies! The world is at the cusp of a global economic, financial and monetary collapse. Got gold yet? How long do you think the Euro will last? How long do you think the SFR (Swiss Franc) will last? The strong SFR is affecting the Swiss economy and the SNB is sweating like rain to weaken it! Eventually, the central bankers will turn to the great gold revaluation to weaken their currencies! Got gold yet?
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  EURCHF Crashing After Hours On Italian Bank Run Concerns
  by Tyler Durden, http://www.zerohedge.com/
  Less than an hour ago, Larry Kudlow tweeted the following: “Sources tell me Italy has to restructure bonds. Deposit run on Italian banks. EU will have to mount Tarp rescue. Big stress on interbank loans.” Basically, this is the worst possible combination for Europe which means that another bailout is not only imminent but has to happen tomorrow. Incidentally Reuters is reporting of an emergency meeting between Sarkozy and Merkel and Zapatero on “the markets” which can only mean damage control following today’s disastrous Trichet performance.
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  Too bad the markets won’t buy it any longer absent some actual actions to back up the deeds. Yet what we are more concerned about is whether or not there really is a bank run in Italy which would be the end of the euro. For that we went to the most trustworthy indicator for European “bankrunnyess” the EURCHF. To our surprise, the pair just plunged nearly 100 pips after hours, after dropping over 200 pips from intraday highs following yesterday’s SNB intervention. Will this force the SNB to intervene again? Find out shortly. AS to what Sarkozy has up his sleeve, we will just have to wait and see when the European markets open in about 10 hours.

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