Ah, yes. More disaster came to mind.
I didn't even mention the total collapse of all finance as everyone either runs to the bank or simply spends EVERY SINGLE DIME IN THEIR BANK ACCOUNTS on hard assets as soon as this scheme is discovered.
Ever see "It's a Wonderful Life"? Now try that scene, but no one actually in the bank (ok it was technically a "building and loan", but it was a bank.)
Every bank in the United States would collapse. Hey, but fortunately, the government could just print more money to cover all the deposits lost! And, with everything else that is screwed up, it probably couldn't make it any worse! (Of course, it also would do absolutely nothing to make it better, either.)
So, no investment happening, no trade (in dollars) happening, significant black markets, corruption, bribery, starvation, and I will bet rioting and theft and violence.
Hmmm... what does that situation sound like?