Another thing about bitcoin is the indterest rate can't be controlled, I know this is a key feature, but isn't that something you need to be able to do?
The interest rate should reflect the saving rate. This can reflection can only be accurately controlled by the market.
Assuming that you're some sort of democratically elected body accountable to the people, you might want to be aqble to accelerate or break the economy every now and then when it's over-heating or to ecourage it to move around more...
Democracy IS the problem. The people don't need a democracy. They deserve much better than a Lord of the Flies type of government.
If you let people take care of themselves, I am sure that they can come up with solution that is much better than what politicians could create.