I am afraid your thought experiment is not too far removed from reality--in fact it is a real issue, as we look at a world with far more debt and derivatives than real assets.

The questions I have are, "How much of current commerce would be able to continue? How does one operate an electric utility without money? Do you call (assuming telephones are available) Wyoming, and promise to send a trainload of Georgia wood back if Wyoming will send you coal for your power plant? (A hydro-electric power plant might do better, as long as long as a part isn't broken, the river isn't frozen over, and it still has enough oil for lubrication.) How could gas stations operate, if electricity for pumping fuel (in pipelines and at the gas station) is not available? Without oil and gas, and with very little electricity, how could a big business like a telephone company, or a refrigerator manufacturer, continue to operate?"

I am afraid we would have only the food that is locally in storage, or currently growing. Clothing would be just what is in our closets. Golden Retrievers would only be helpful, if they could find their own food, and provide some services in additional. Medicine would be whatever is in our medicine cabinet.

The new currency would most likely be local. It could be based on some quantity of food or labor. It probably wouldn't be tradable at any distance. We would go back to the days before oil and gas, and mostly to the days before electricity.