I could be wrong but I believe it'd have to be at theraputic levels while going through the experience. It won't erase memories, nor do anything selectively, it only blocks short term from being laid down as long term memory. Unless it's added to the water supply few people would benefit. Soldiers, spies, homebuyers... Maybe a new version of non-disclosure-agreement? 
I'm with everyone here as to not wanting it. Bad memories are a large portion of all personal and societal motivation to stop doing many bad things. "Never forget."
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There are a vast number of people who are uninformed and heavily propagandized, but fundamentally decent. The propaganda that inundates them is effective when unchallenged, but much of it goes only skin deep. If they can be brought to raise questions and apply their decent instincts and basic intelligence, many people quickly escape the confines of the doctrinal system and are willing to do something to help others who are really suffering and oppressed." -Manufacturing Consent: Noam Chomsky and the Media, p. 195
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