IMHO it can be highly likely that you'll have to open your wallet if there is real security:
at some alert levels the TSA will xray your wallet
at MANY facilities, magnetometers will trigger if there is sufficient ferrous metal in your wallet.
who DOESN'T know about credit card sized edged weapons.

I think many security systems, including our TSA monitored airports, stink. But I absolutely object to the idea of "trying something". It just distracts people from their job, at best. At worst, it can get you arrested.

Don't try it.