Should the Money Supply Be Fully Elastic?

Gold standard lovers would say, ever since Bretton Woods broke, the last gold senate broke, things have been out of control. What I'm saying is that what historically when you look at the monetary innovations throughout history, whenever you see too much constraint on the money supply, humans will invent other ways to do it. Eurodollar is an example of this. There was a legitimate need for elastic currency that the Bretton Woods system could not supply. We've always been taught it's in either or, it's either highly constrained or it's unconstrained. The middle ground, we're currencies just elastic enough to supply legitimate demand for money, but not go too far off the rails into