Economic foreshocks being felt?

[Happyville]

Really observant student blogger feels as though he felt some tremors eminating through the financial world last night and has a few thoughts as to why...

http://www.dormroomderivatives.com/2009/02/massive-coordinated-sell-ff-in-foreign.html

As a lot of sites have been noticing, around 8pm, there was a big sell off in all major foreign currencies against the dollar. Forex is a highly liquid market so for this coordinated of a sell off means someone is liquidating and/or deleveraging trillions of foreign-denominated assets.

I believe one of three things is occurring:
1. a large bank is failing
2. a foreign nation is defaulting on its debt (ireland or poland?)
3. the Fed is offering massive foreign currency reserves as supply collateralized by printed dollars to spur foreign inflow into treasuries

Gold, oddly enough, went up as the dollar spiked up. This tells me something big is brewing, and most likely not good.