Trim the base and cut stems from chard. Cut the stems into 1/2 in pieces. Coarsely chop leaves.
Saute the garlic in olive oil in a wide bottom saute pan over low heat until golden, 1-2 minutes. Add salt, pepper, chili flakes and chard stems, continue to saute for 3-4 minutes. Add currants and pine nuts, saute for another minute or two, until the currants begin to plump. Add chopped leaves and water. Increase heat to medium and continue to saute for 4-5 minutes longer, until leaves are tender.
Taste and add salt and pepper to taste.