Bank of England clueless - 'QE does not create asset bubble'

One has to wonder where else all the freshly printed money has disappeared to. It does not seem to go into more bank lending, so where has it gone? Would be interesting to know what level property and share prices - not to mention interest rates - would be without this unprecedented flood of money. May God protect us from civil service economists at the Central Banks - and the international bodies such as the OECD and the IMF.