One by one, the so-called 'safe havens' in the market, which are supposed to be secure, low-risk places to park cash, are going to get taken out and shot. CHF, ZB, GC, JPY - the usual suspects. We saw it with the Swiss Franc, which dropped a ruinous (for longs) 8% in less than 48 hours. And we have just seen the beginning of it in US Treasuries, which gapped down >1 handle in 1 minute. Expect to see a ZB 130 print within the next few days or weeks. Gold itself is off $50, but you ain't seen nothing yet. Expect a down $100 day fairly soon. And silver will get annihilated also. The Yen will follow, especially if the normally timid BoJ get some courage to intervene. Anyone long these assets is going to get destroyed. They are all full of both leveraged momentum speculators, with lots of stop-loss orders below the market, which - if triggered - will set off a selling stampede; and longer-term 'investors' with no balls, who ran headlong into them in the last week due to fear and panic over mostly meaningless rumours over US and French solvency. When both the hot money and institutional dumb money are long up to the gills in ludicrously overpriced low-return assets that have run up massively in a short time, their inevitable liquidation will NOT be a pretty sight. A 1 1/2 handle T-bond gap, and a 8 handle CHF selloff, will be just the beginning. I suggest acquiring September expiry puts to exploit the forthcoming carnage.