i was using the term monetary base to mean roughly…
“M0 – currency (notes and coins) in circulation and in bank vaults, plus reserves which commercial banks hold in their accounts with the central bank (minimum reserves and excess reserves). M0 is usually called the monetary base - the base from which other forms of money (like checking deposits, listed below) are created - and is traditionally the most liquid measure of the money supply.[7](http://en.wikipedia.org/wiki/Money_supply#cite_note-6)”
http://en.wikipedia.org/wiki/Money_supply
meaning money inflation similar to this
“As far as I know, the Treasury Department runs the printing press. They sell the FED the paper currency at something like $.06 per note”
https://forum.freecapitalists.org/t/when-can-the-fed-print-more-money/1396/2