No they don't.

"They" can take 50% from you without even knowing who the fuck you are by doubling the dollar supply on the ledger.. and does not matter which one you hold.. physical or digital....  similar with the gold manipulations in which some gold bag hodlers believe that there are significantly additional value to physical gold (beyond armagaeddon scenarios) in holding the actual cumbersome physical stuff...

Accordingly, our uncle sam or designee with merely push one lil button (or click the mouse) and wing-a-dingie-adee-ding, wam-a-dee-wee-woo-doodle.. and uie pooie end up having 50% less value than you had a few minutes earlier.   Easy ma peasie...

Note:  Relatively speaking, I largely agree with your overall point lightfoot, in regards to the preference of physical currency over some of the recent digital shenanigans in the makings.. but I also wanted to highlight a wee bit of an overstatement that seemed to have been contained within your own framing of current monetary money dynamics (fiat especially).


Is something missing, such as a link?  #justsaying