Indeed, but he's not the first by a long shot... Today I was reading some of the earlier work that the ECB paper I attached refers to. Some of these papers are from the last century . The key thing is that the NCB carry out some OMOs, but not all, by a long shot. Moreover, the NCBs are effectively held hostage through their reserves that, collectively, form ECB's capital. But you're right, it's very interesting.
1750's America ... British subjects (otherwise known as Americans) leaving the bosom of the British Empire: how would it work?