If the alternative is fiat currencies printing themselves out of existence, then yes, people will happily transact in hard money with high fees. See Turkey, whe

If the alternative is fiat currencies printing themselves out of existence, then yes, people will happily transact in hard money with high fees. See Turkey, where you basically take on debt to buy anything (including commodity items like iPhones) that you can sell later, simply because the currency is spiraling out of control and you need your networth divested out of it.