Fiat currency is the cause of the problem, but it also provides the solution. I agree that our financial system should be running MacOS, not windows. I agree

Fiat currency is the cause of the problem, but it also provides the solution. I agree that our financial system should be running MacOS, not windows. I agree that running Windows is why we get so many bugs and viruses. But as long as we are running Windows we should still apply the patches that Microsoft sends us. Or in this case Bagehot. And declaring that we should just let the virus wipe out our computers, so then we can all buy Macs, is neither an effective strategy for making friends and influencing people, nor is it in your interest. If you're going to run a fiat currency, try and keep it as close to gold-like as possible. Do not inflate, do not deflate. If bug in the banking system wipes out half the currency in the world, simply run a patch to add the money back. If you find some alchemist created gold in a laboratory and pushed it into the market, you should shut down the alchemists lab, but allow the gold that has already entered circulation to continue circulating.