The Dollar Weakens, the Franc Holds: Currency Preservation in a Post-Trust Market

January 2026 | Integritas Investment Partners, LLC

📉 When Analysis Becomes Evidence

Over the past 18 months, Integritas has taken a disciplined, non-speculative approach to global capital preservation. Not through trades. Not through leverage. But through structure, positioning, and respect for monetary history.

The results now speak for themselves.

• Gold and silver allocations have delivered realized and unrealized gains exceeding 94% across client portfolios.

• Physical metals — once dismissed as “insurance” — have become performance drivers.

• And now, a quieter but equally important validation is unfolding:

The U.S. dollar is weakening — and capital held in Swiss francs is rising in dollar terms.

Not because of a trade. Not because of timing.But because currency integrity still matters.

🇨🇭 Swiss Francs: Currency, Not a Bet

Our decision to hold a portion of client liquidity in Swiss francs was never framed as a trade.

It was — and remains — a currency decision.

The Swiss franc represents:

• Political neutrality

• Conservative fiscal discipline

• A central bank historically resistant to monetary excess

• A reserve currency without empire obligations

In contrast, the U.S. dollar today faces:

• Expanding fiscal deficits

• Rising debt servicing costs

• Weaponization of financial infrastructure

• Growing skepticism from foreign reserve holders

When trust erodes, capital does not rush — it repositions.

That repositioning is now visible in real account balances.

📊 What Clients Are Seeing Now

As of January 2026:

• Accounts held predominantly in CHF are showing measurable gains in USD terms

• Without market risk

• Without duration exposure

• Without equity volatility

This is not yield.

This is currency math.

When the unit of account weakens, sound money does not need to outperform — it simply remains intact.

🔍 What Triggered the Recent Move?

There was no single headline.

That’s the point.

The dollar’s weakness reflects:

• Persistent Treasury supply pressure

• Reduced foreign demand for long-dated U.S. debt

• Rising real asset remonetization globally

• Central banks quietly diversifying reserves

• Markets beginning to price structural imbalance, not cyclical noise

This is how currency regimes change — slowly, then unmistakably.

🧠 This Was Not a Prediction. It Was a Framework.

Integritas does not operate on forecasts.

We operate on probabilities, incentives, and history.

• Gold reasserted itself as a monetary asset

• Silver followed as an industrial and monetary hybrid

• And now, currency trust is re-sorting itself

Each move reinforces the last.

This is not luck. This is sequence.

⚖️ What Comes Next

We expect:

• Continued pressure on fiat currencies with fiscal overextension

• Ongoing strength in neutral reserve currencies

• Increasing differentiation between money and liquidity

Clients positioned in:

• Physical metals

• Neutral currencies

• Short-duration structures

  
  

  are not “trading the market.” They are standing outside instability.

🏁 Integritas Takeaway

• Currency risk is real — even in cash

• Preservation precedes performance

• Sound money doesn’t need to win — it just needs to endure

As 2026 unfolds, the thesis continues to validate itself — quietly, steadily, and without drama.

That is how real capital protection works.