This chart about FDIC funds was floating around then so I 'm sure the shortfalls are much greater now.
Money in a milk can could wind up worthless the same as being in a bank. All they need to do is make it non convertible or limit the amount that can be exchanged for new digital dollars. There are few alternatives and being captured "in the system" is the ultimate goal. Then they can explore negative rates transaction fees, and social credit scores where they can control your purchases or lock you out of your money if you say the wrong thing or wish to buy unapproved items.
Sure everyone says FDIC is backed by the full faith and credit of the US govt. How much value do you want to place there if push comes to shove ? Do you think they will protect your money /purchasing power or steal it to make sure they do not eat their losses for bad fiscal decisions ?
(FDIC Deposits vs Reserves vs Derivs_0 (full).jpg)