I agree with you over the parent. The idea that being a so called "Western nation" makes you immune to government abuse seems to be more propoganda than fact.
I looked into Canada's bank seizures, and at the hearings it came out that it was the banks not the government that was pushing for that. Canada's elites do act like the general population are more property than citizens... But I don't see how physical money can solve the problem of tyranny better than digital.
A tyranny can search and seize your physical assets just as much as your digital ones. They passed laws making it harder to store money anonymously, and storing digital assets anonymously might actually be easier in our day and age