Right now the actual calculation of how many dollars exist is... Well, convoluted would be a compliment. With blockchain technology, the creation and distribution of the currency is reduced to a common protocol that all the banks can use for the price of a few servers. By comparison to just the regulatory compliance softwares in banks, that's a pittance. Whether they'll have the brains and balls to actually do it is another story, but the public ledger/blockchain idea for transmission of data and tracking the money supply would simplify really a lot of modern finance.
While agreeing with your above-quoted statement, I still disagree with your disagreement.
You seem to have the impression that easy tracking of the entire money supply is something of value to those whom have been granted a charter to zap money into existence at their leisure. I assert that this would actually be counter to their interests, as it would wake the masses to the chicanery of the entire system.
Just look at how hard the entrenched interests have been fighting -- year after year -- the intent to conduct an audit of the FED. (be you American - otherwise, the example may admittedly be rather obtuse)