You bet it's messed up. I might keep it under my mattress for the short-term, but with all of this money printing and stimulus and quantitative easing, whatever you stuff under that mattress is going to magically vanish sooner or later.
That's the price you pay for privacy too. The informal cash economy is traditionally how people act as their own banks, and also how they avoid paying various taxes. For example, if you're making a living getting paid cash under the table, you can't just put all that cash in the bank. Inflation is just a small fraction of what you'd lose by reporting that income.
The scary thing is that I'm not sure the Fed or anyone else in power is keeping an eye on things.
Pandora's box is already open. I believe the Fed has known at least since Greenspan that we are on an uncharted and frankly unsustainable path regarding monetary policy. They have no choice but to stay the course though. It's either that, or allow another Great Depression to happen. In fact, it could be worse than the Great Depression.