Why would "well positioned people and corporations" play a greedy game of hoarding "increasingly worthless" dollars? Your position is incongruent.
As long as there is a law that makes it "a legal tender", and thus a claim on goods, they will collect them.
Well-positioned people can ride inflation a lot longer than the lower and middle classes. It doesn't matter to them much how much things cost. And they believe that things will continue along if they simply contribute to the right political party. Unfortunately, things happen, and it necessitates government to prop up the system by bailing out those well-positioned people and corporations and they create more and more dollars to save themselves and they have full faith in the government to do so but eventually it gets out of control, history has a full account of what happens when a government takes over control of the money system.
But really, the true test of sound "money" is whether or not it needs a law to make people use it as money. Governments are so whimsical, leave it to them and what's money today may not be money tomorrow. Americans couldn't own gold from 1933 to 1975 for example. In 1933 gold was still money. In 1971 gold was no longer money. I guess in 1975 it was ok for you Americans to own gold since it was no longer money anyway.
I want to be in the class that ensures the classless society remains classless.
Love this: "In the private sector if you can cut costs you are a hero. In the public sector you are a goat."