The B of E has not been a CB for centuries. Govt. debt markets only became the fulcrum of the money markets, and thus of CB operations, gradually since W.W. I, a time when the Fed, not the B of E, is at the center of the action.
>Buying other kinds of loans--well, maybe. Almost any asset can be
>monetized. Gold in addition to govt. bonds is one...
It takes CB purchases to monetize gold!? I think I'll stop here...
Edwin Dickens