>Merchants in Greece would have been happy to take your cash if you had it. That worked in Greece because they used the Euro, which meant that the currency was

>Merchants in Greece would have been happy to take your cash if you had it. That worked in Greece because they used the Euro, which meant that the currency was solvent based on its association with countries that had better credit than Greece itself. If the US had a Greek-style loss of credibility, the dollar would surely take a massive hit, as its value lies solely on our credibility. Since we don't have a Germany to point to as the currency's savior, it's very possible that American vendors wouldn't accept cash (USD) and would prefer something that has value independent of governmental decree (precious metals).