I've proposed a method to improve the upward pegging without the risks of reverse conversion. It isn't perfect but it should be better than the status quo and may turn out to be sufficient, or evolve into something that is sufficient. I'm happy to entertain partial solutions when they have less or no risk of actually making matters worse, and particularly when we don't know that any other "solution" would actually be perfect either.
RE: Reverse-Conversions: Two Birds One Stone