[blululu]

Being a durable store of value is generally part of the definition of cash along with liquidity and fungibility. Governments put so much effort into making banking deposits function as cash because the modern banking system would break down if people thought they were better served by having a hidden shoebox full of cash. I don't think anyone here is gleeful about a pension fund losing its money but there is a meaningful difference in terms of which parties should receive federal assistance.