Reply #24: The reasoning behind trading gold back for cash,

[Art_from_Ark]

and this is based on people's experience in countries that have experienced hyperinflation, is that you convert enough gold to buy, say, a month's worth of supplies. By the time the month is up, inflation has vastly reduced the buying power of the paper money, but the buying power of gold theoretically remains relatively constant. And paper money can become worth so little that it ends up being demonetized. This has actually happened in numerous countries around the world, including Germany, Serbia, Hungary, Mexico, Peru, Brazil, Argentina, Bolivia and Zimbabwe, to name a few.

Can the dollar become demonetized? Maybe. Virtually every country has demonetized/replaced its currency since the US Dollar made its official debut in 1794. And the US has demonetized various coins and paper notes at one time or another. Currently, though, all US-issued coins and currency are officially legal tender in the US. So it seems unlikely that a total demonetization would occur, but these are strange times.