[gridlockd]

Again, I'm not pitting this against all other options, I'm pitting this against bank deposits specifically and in principle.

My point is that bank deposits aren't as safe as people like to believe they are, at least beyond what is insured.

In a systemic crisis, chances are the government will just print whatever money needs to exist and bonds too will take a hit as a result. Plus, whatever happens in the US will impact the whole world. You can't realistically hedge against this with any currency/bond.