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Or that fiat currency is hacked when someone gets pickpocketed on the street.

In terms of proportion, it is more like if someone walked into Fort Knox to count the gold and discovered that it was all missing. Sure, it doesn't discredit the * concept * of state-backed currency, but it would be informative.

Slightly related - there's weird (probably unfounded) suspicions around gold stored in the US on behalf of some countries. May or may not have led to things like Germany repatriating its gold reserves: http://www.zerohedge.com/news/2017-02-09/bundesbank-has-comp...

Yeah, I was going to use the NY fed reserve bank as an example, but I know about the rumors and didn't want to open that can of worms.

I'd say that someone being pickpocketed of $65m would be pretty notable.

It'd be notable, but it wouldn't be a fault of the money itself.

Wouldn't it be a fault of the currency's physical nature?

If you stored $65 million in cash and had it stolen I'd go ahead and feel comfortable blaming you for choosing a stupid currency medium, i.e. physical cash.

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