Catastrophic? Why?
But that is part of the problem, since those numbers from other sources aren't "official" like Fed numbers would be.
Where do you think the Fed got the numbers?
A clear view of the real money supply (that M2 doesn't provide), which compared to auctions would allow the detection of inconsistencies.
What is an "inconsistency between the real money supply and the auctions"?
What auctions are you talking about?
What auctions are you talking about?
This is a subject that gets somewhat complex; I apologize for assuming a certain level of audience knowledge about how the Fed and the Treasury works, and how dollars are (supposed to be) created.
I could attempt to explain, but in all honesty any short description would leave out important (relevant) details. I would suggest searching the web to find appropriate books and videos that describe the Fed's role in creating money in collaboration with the Treasury Department (or at least, how the process is supposed to work), which can no doubt do a better job at describing the process than any short post here could.