In the abstract I agree, but in the particular I will do whatever it takes that allows me (and whoever I'm with) to walk away. Give up my wallet? Sure. Shoot the assailant? Absolutely. Run away? Again, yes. My pride is not going to help me survive.
Last time someone tried to mug me I ended up making jokes and getting along with the guy. I kept my money, he stayed happy, we both walked away. Morally there are all sorts of problems with this--someone willing to threaten another person and try to take their money shouldn't be walking the street; certainly smiling and talking with him left an almighty bad taste in my mouth. But the key here is that it worked, meaning that I'm still around.
I wouldn't bother with the trouble of carrying (and needing to fumble for) a fake money clip. If you are in that much danger, give up your money (either as a money clip, or as your whole wallet). If the next step that keeps you alive is to shoot the person, so be it; if running like stink will keep you alive, strap on those nikes. I guess that this makes me pretty much a pragmatist? I'm starting from the assumption that the most important thing is my (and my wife's) life; everything else is secondary. Hence I'd be willing to shoot, club, run over, etc someone who threatened us--I've decided that my safety matters more than his. But if there is a choice that I feel offers better safety to us, I will take it.
