Yes, governments and elites often make terrible mistakes about monetary and fiscal policy. But it's also important to recognize that the rules of a monetary system controlled by an algorithm are not derived from incontrovertible laws of space-time, they are created by an organization of people. Those rules will have implicit assumptions about society and power that may not hold true in 10, 50, or 100 years. It may also be unable to respond to changing real-world conditions. For example, if we find that aliens are about to blow up the earth, some flexibility in the money supply may be beneficial to redirect capital to planetary defense. "The elites may make bad decisions in the future" is not a convincing argument to me, because they also may make good decisions in the future. I think it's important for society (and money) to be agile in the face of tough decisions.