You are responding to an off the cuff (and basically correct) remark with a deeply technical disagreement (that isn't incorrect either).

Total money supply means that eg doubling the amount of liquidity does not double the price of items, but printing money can cause inflation on goods depending on where that printed money is absorbed. Making free money for building houses is different then sending a check to every American.. but in practice the Gov did the latter and now eggs are more expensive!

Where you add the money makes a big difference!