I'm not old enough to have first hand experience but wasn't that what we tried during the Great Depression? Lack of liquidity and devaluation at the same time?

Cash was sure king during those times. My mom and dad started out their married life with 20 bucks of hers. Problem was during those times almost nobody had any money and nowhere to get any. Those that had it lived like kings though. Dollar a day was good wages, if you could find work. Most could not.

John