Swiss Cheese

"I felt a great disturbance in the Force. As if millions of voice suddenly cried out in terror and were suddenly silenced."
--Ben Kenobi (Star Wars)

One day the Swiss National Bank confirms commitment to pin the Swiss franc to the Euro. A couple days later the SNB unpegs it and extends its NIRP to -.75%. The Swissy has subsequently soared (those short CHF have been slaughtered) and Swiss stocks were pounded for an eight spot.

Reports now surfacing that Swiss ATMs are refusing to spit Euros.

Chatter is growing that this means that the ECB is preparing for massive QE.

Gold is up $35 on the news and rising.

position in gold