Not sure what they will do but it can't keep swinging wildly.

I hear that, and it would be nice just to know it will always be $1.00 truth be told, because then I could also use it instead of USD which would be awesome!

Exactly the point of it. It would mean that the Steem blockchain would secure its own tradeability. I think if people understood what that meant in regards to breaking away from fiat completely in the future, they would definitely back it.

I totally agree, but do any of the witnesses have a proposal that we can vote on to peg it, or is this just all speculation at the moment?

The plan is mainly to have it pegged at 1$. So, if it wants to go below 1$, it's going to be subsidized else, it's left flying high...

Ahh, makes sense.