Macroeconomics

Ms. C, Mr. D and Ms. E are all classmates in Macroeconomics. After watching the video lecture about Money, Ms. C realized that at present the Philippines is using commodity currency. Mr. D also shared his understanding about the lecture. He claimed that in order to minimize the impact of an excess supply of money, the BSP must implement expansionary monetary policy. Ms. E on the other hand shared that fiat money is a fake money because it is not supported by any reserve. Who is correct? Begin your answer by saying "Ms. C, or Mr. D, or Ms. E, or All of them, or None of them; then your reasons.