Yes putting money in the bank is a debt instrument.
I think the standard advice for securing money is diversification. Mix of gold, debt, stocks, real estate etc.
The problem with viewing cash or debt as a secure asset is all the times people who were in cash or debt got wiped out (defaults, currency devaluations, inflation, etc). Those who had a mix may have suffered somewhat during crashes & booms, but they didn't get wiped out.
Oh, I see what you're trying to say. Well, I suggest perhaps not choosing a Greek bank. Australian banks are somewhat safe from total collapse. Spending too much is way more of a problem than inflation which is at historic lows at the moment anyway. Not having enough to earn enough interest to cover both my essential expenses as well as enough for some fun and luxury could be a problem I guess but having plenty of cash and therefore plenty of interest flowing in will solve those issues easily and simply.
For example, if I had $20,000,000 in the bank earning 5% that's $20,000 a week forever which is as close to a lifetime supply of cash that I'm going to ever need. Inflation won't ever eat enough into that (in my lifetime) to be of a concern to me. And if it is, then I'll just put more in until I'm well covered...or I"ll make sure that I spend/need less. Those that fly very close to the line (barely having enough interest to cover their "2X") might feel concern for inflation after a few decades though. As for total financial collapse of our banking system/society/all hell breaks loose...I'll worry about that if it happens and keep my money out of weak banks/countries.
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