Yep, one thing about hiding the M3 numbers (and the derivatives are impossible to quantify since they are traded on secret chinese banks and black box trading systems) is that, although they are not the spendable supply, but if these derivatives implode, the M1 will increase massively.

I mean 2 things could happen, either the CB lets all banks fail with their crappy derivatives, or they print up the necessary money from them, via liquidity injections, which would create a hyperinflation. It's really in the hands of the central banks now.