&gt;Merchants in Greece would have been happy to take your cash if you had it.<p>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.<p>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&#x27;t have a Germany to point to as the currency&#x27;s savior, it&#x27;s very possible that American vendors <i>wouldn&#x27;t</i> accept cash (USD) and would prefer something that has value independent of governmental decree (precious metals).