Bloomberg.com: Worldwide

"Banks' borrowing at the rate climbed to a daily average of $13.9 billion in the week ended July 16 from $7.84 billion three months earlier."

So currently banks are borrowing about $417 billion per month from the Fed? Where did the Fed get trillions of dollars to makes these loans?

If this rate of borrowing continues for the next 6 months will they will borrow 2.5 trillion? Against what assets?

Is this the biggest money give-away of all time? (and completely illegal/unethical as well)

If this money keeps flowing we should see massive inflation soon. Perhaps this is why the Fed stopped reporting M3 and why the CPI has been monkeyed with so much.

What do you guys think?