That'd be over the top socialism. Waaaay over the top. Unless you had a really high standard of living and you got credits for things of your chosing. Hey! Think about it this way, if that is too occur then it would make internal terrorism very difficult, since no one would legally have money, so the people buying the raw materials would be getting questioned.
"George Bush says he speaks to god every day, and christians love him for it. If George Bush said he spoke to god through his hair dryer, they would think he was mad. I fail to see how the addition of a hair dryer makes it any more absurd."