Says you. Like all interventions, there are winners AND losers from this type of intervention.

says the lack of bank panics, sustained inflation, and reduction of recessions to speculative bubbles, of which decentralized currency doesn't fix.

Right. Your's a textbook answer to the textbook question. What are the causes of bank panics? Who are the winners and losers of this inflationary intervention/"reduction" of recessions? If the winners of these policies continue to keep winning, is this good for society at large? You don't seem to see the big picture. Product of one-step thinking. But my contributions to this thread ends here.