That's more of a justification than an interpretation. But it's also sort of like saying "I tried to give you that money I owe you, but there was an impenetrable barrier between us that I made out of money, so I couldn't get it to you. So we're even right?" It might be made of the stuff they want, but if they aren't getting any of it, then it doesn't really matter what it's made of. There's still no exchange happening.
And on a lighter note... covering your what?