My only point is that, whatever the bookkeeping technicalities, 'new' money can be created in that process. As I understand it, it is up to the central bank to determine how much (if any) will be, depending on the state of the economy, the market for the debt being sold, and its own financials.

One big reason bookkeeping technicalities exist in the system as it functions at present is to act as a sea anchor on spending by government: it cannot of itself create money willy-nilly without involving the central bank (at some point, in some way)--but central governments have learned that they can force the hands of central banks by undertaking additional deficit spending (and yet hold them responsible for the state of the economy). In my proposal, spending by government is directly limited (initially, at least) by demographics.