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Double Entry Bookkeeping With Ravel: what if the Treasury sold directly to the Central Bank

Summary:
Central Bank direct purchases of Treasury Bonds are banned by law in most countries. But they're not banned by the accounting. If they did happen, guess who would suffer the most?

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Central Bank direct purchases of Treasury Bonds are banned by law in most countries. But they're not banned by the accounting. If they did happen, guess who would suffer the most?
Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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