Source: http://www.shadowstats.com/alternate_data/inflation-charts
Indirectly, big banks gambling with this "free money" caused turmoil in the price of commodities around the world. It's one of the reasons for unrest in the Middle East.
One day in the future, the central banks will lose control. I happen to agree with Mark Faber that war and inflationary depression will be the likely result.
Interview With Marc Faber: It Is Not A Matter Of If With Hyperinflation, But When