The government then disburses those newly created "reserves," i.e., "Federal Reserve Notes," i.e., money. Sure, it's all done with strokes on computers, but it is money entering the economy all the same. It is an outright addition to the supply of money, as currency, to the extent that the Treasuries involved are an addition to the federal debt (as opposed to refinancing extant debt). Moreover, in 'quantitative easing' money is created to "swap for", i.e., purchase, existing debt from entities in the private sector, sending that money directly into the economy.

I am not a cryptonite, but I do see that we must do something very different. One possibility is in fact something that can be thought of as a kind of permanent quantitative easing--but with built-in protections against inflation. The money that would be created could be used to fund a guaranteed minimum income (which would not be universal, but for which any--adult--citizen could become eligible) and all government, from local to central (at the current per capita level of total government spending permanently). The supply of money, as currency, would be determined by demographics--and only that.