If a gang like that ever gains the power to do what you are suggesting, then users will abandon the currency and set up another one that isnt controlled by a gang of authoritarians.
Hence Bitcoin.
Sorry cunicula, but your seem to have turned up to a free-money-movement talking shop trying to talk about how effective it would be to try and turn it into a system that's just like the one the one we want rid of. People will vote with their feet if that came to pass, just like they are now with turning to Bitcoin.
My point: Bitcoin cannot succeed as a free-money movement. Full stop. If you think otherwise, you are deluding yourself.
If they haven't crushed you yet, it is because you are too insignificant to merit their attention.
Bitcoin is succeeding quite well as an example for the Free Money Movement, the current authoritarian delusions of what 'money' should be is beginning its implosion. I'm not sure I want to watch your increasingly nasty, shrill disgusting pleas for state-violence and thuggery to defend the failed monopolistic monetary ideologies as it all progresses.
In the end, the superior technology will win the battle of ideologies as people choose "what just works".
I do not see any potential superstar crypto-currency programmers or mathematicians amongst the central banking keynesians ... so unless they can recruit the mind-share of a team of technologists needed they are dead as an implementable ideology ... and the market will probably reject it on basic economic principles even if you got one of your fantasy blockchain Inflatacoins off the ground.
Maybe you should go and learn C++, a bit of number theory, crypto, etc and try competing in the marketplace with a real product instead of spouting your failed ideologies?
Then again, teachers teach because they can't do, isn't that how it goes Mr. Economist?