Only the Fed can offset a current day reserve imbalance. That's what it does most every day. That's all it does- act defensively. I didn't say you could not do both. I said 'could' be eliminated.
Current money is tax driven.
There it is. Transaction demand for dollars, for example, can come only after dollars exist. Then taxes can allow additional govt purchases to be made with dollars. Non-academics can do excellent work. Anyhow I've got to go to dinner.