Why put a lanyard hole on a tip down folder?

Dummy cord lanyards, i.e. for military use, are usually about arms length long and attached to the knife and the person. You stuff the extra in the pocket with the knife.

That way if the knife falls out rolling around on the ground you don't lose it. Pocket clips are great, but the technique was developed in the no clip days and still works. Some clips snag brush and your first indication is that you're dragging a small bush behind you -if the cord is attached.

Running and gunning 24 hours straight tends to cause the mind to ignore smaller sensory inputs, so the Rangers etc learned to deal with it. It's no "dis" to wear a dummy cord in rough terrain, it's simply professional. Can't be leaving a litter trail of essential gear behind you.
 
If your not attaching it to yourself somehow it's a fob or leash. Lanyards go around your neck. Dummy cord, I haven't heard before but a good term.
 
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