I don't believe I took the quote out of context, as I wrote what Friedman said, almost verbatim without commentary.
"Out of context" means you omitted other text that changes the meaning of the text you did quote. See rayiner's comment about this (the very next paragraph...)
The monetary base is the stuff consumers touch
No, it is not. See the wikipedia link and Rayiner's comment, which explicitly refutes this (The monetary base must not be confused with the money supply which consists of currency circulating in the public)
It is hard to take your arguments on good-faith if you make such blatantly false statements.