I think the most elementary example would be the ability to prevent collapse during difficult times. The ability to "stimulate" the economy by flooding it with more units, during times of fear... or war. Backstopping banks during times when bank runs would be the norm. The ability to "smooth out" the downside risks. The ability to win wars by siphoning wealth from citizens instead of directly taxing them.

It sounds silly as fuck, because it is. But this is the kind of shit I was taught in Economics class. It's the kind of shit I keep hearing over and over in anti-Bitcoin forums. Peter Zeihan on Rogan a few years back. These people actually believe that there are pros to having a flexible money supply.

I used to think it was a 60/40 balance between the pros/cons on this subject. But the more I learn, the more I can't see ANY pros at all with a flexible money supply, as you said.