Simple yet puzzling jquery problem

1 
<script type="text/javascript">
$(document).ready(function() {
    $(".foo").click(function(){
        var $el = $(this);
        $el.replaceWith('<a href="/url" rel="xyz" class="foo">Link</a>');
        return false;
    });
});
</script>
<a href="/url" rel="xyz" class="foo">Link</a>

I should be able to keep clicking forever right? But it seems that after replaceWidth() for the <a> element, though having class=“foo”, return false; isn’t working.

Any jquery experts here can give me a hand?