BANK RUN ALERT: DRAGHI SAYS ECB HAS OPEN MIND ON NEGATIVE DEPOSIT RATE – SAVERS NEED TO PAY BANKS FOR HOLDING THEIR MONEY!

The Euro Is Suddenly Diving After Mario Draghi Discusses Possibility Of Negative Rates

And there goes the euro.
After spiking earlier on the rate cut, the euro is diving.

FinViz

Euro tanks as*DRAGHI SAYS ECB HAS OPEN MIND ON NEGATIVE DEPOSIT RATE
— Sara Eisen (@saraeisenFX) May 2, 2013
Read more: http://www.businessinsider.com/the-euro-is-suddenly-diving-after-mario-draghi-discusses-possibility-of-negative-rates-2013-5#ixzz2S8rvVuFa

9:00 AM: There was a very strong, prevailing consensus toward an interest rate cut, and within that, there was a prevailing consensus of a 25 basis-point cut.
9:02 AM: The ECB has an “open mind” on taking the deposit rate negative.
9:03 AM: The ECB is not in the business of monetary financing and can’t clean banks’ balance sheets.
Read more: http://www.businessinsider.com/ecb-rate-decision-may-2-2013-5#ixzz2S8s9IhhO

Gold Is Rallying, Thanks to the ECB.
Chatter out of the ECB that rates could go negative has been awesome for gold.

Kitco

Read more: http://www.businessinsider.com/gold-is-rallying-2013-5#ixzz2S8svl9IH
ECB “Technically Ready” To Ask Depositors To Pay Banks For Holding Their Money
The first relatively big bombshell has been dropped:

• *DRAGHI SAYS ECB HAS OPEN MIND ON NEGATIVE DEPOSIT RATE
• *DRAGHI SAYS WILL COPE WITH NEGATIVE CONSEQUENCES IF WE ACT

This has crashed EURUSD and smashed German 2Y rates into negative territory.

http://www.zerohedge.com/news/2013-05-02/ecb-technically-ready-ask-depositors-pay-banks-holding-their-money