As $US write downs occur, does money supply decrease, balancing the increase in Ms with lower Fed rates?

Like the star creation and destruction question below-- I wonder if the money supply of the worlds' reserve currency the $US-- decreases as write-downs of trillions of dollars occurs-- thus balancing the effect of increasing Ms with the lowering of the rate of credit by the FED? Seems to be a simple balance there to me--- maybe by lwoering the FED rate, you simply EQUALIZE the money supply as those write downs occur. Hmmm... I hate to think of myself as stupid-- but I feel stupid right now.