What does artificially pegging your currency through 4+ years of central bank manipulation get you?

In our lifetime there has never been a day like today.  Years from now when a currency moves 300 pips (which used to be a big move) traders will be like "remember when the Franc moved over 2,000 pips in just a few hours back in 2015?".  Its truly a historic day, and not for good reasons... at least as far as I am concerned.

The Swiss decided to wave the white flag today and end years of artificial price fixing of their currency.  For us mere mortals manipulating the price of something would likely land us in jail, for a central bank its just another day of lining their pockets.  Heck three years ago the head of the Swiss Bank's wife was front running all the currency manipulation.    Today's massive move, historic move, once in a lifetime move.... what are the odds some Swiss Bankers wife wasn't front running it?

Sell the RIP, or more appropriately.... R.I.P.

The Swiss Project that started in 2011,   of pegging their currency to the Euro at all costs.... it ended last night.  It took stock futures and a host of currencies with it.   I think in a nut shell it shows that Central Bank Manipulation is terrible for the markets.   It's great when they are goosing the markets higher,  but when they step aside all hell breaks loose.

After years of manipulating its currency today the Swiss waved the white flag and surrendered.  What ensued was a collapse that will go down in the history books.  The EUR/CHF has fallen over 1,800 pips in just a few hours, an incredibly remarkable move.  In an era/age of unprecedented Central Bank manipulation today will prove as another example of what happens when the Central Banks decide to alter the will of the free markets.

Off the soap box and onto some morning reads.  This is some of what I am perusing this morning as well as a quick look at the overnight stock futures session: