Except that your chart is nonsense.

In your view, the stuff that is not used as money is money, while the stuff that is used as money is not money.  If we agreed to accept your contorted view, you would be right, but then there would be no point in the discussion, because no one gives a fuck about not-money.

Your chart also suffers from the flaw that you are reading it from the top to the bottom, when reality happens from the bottom up.  Lending happens first.  Reserves are found later, usually by borrowing against the new note.