One of the whole purposes of conversion to pure fiat is to eliminate any reason to hold cash other than short-term liquidity in order to encourage investment in productive assets, driving production.

> It's just completely losing its value thanks to a long sustained QE.

Except...it's not, the quantity of direct, utility-producing goods and services you can get for a given number of dollars is declining much slower than the long-term average rate. Easy-money policies aren’t driving significant inflation, probably because we’d be seeing significant deflation without those policies given other conditions.