Policy Makers Can Do Little To Halt Dollar Slide, Brazil's Meirelles Says

There's very little policy makers want to do about it. The key word is WANT. The strong global fiat policies, lead by the dollar, is nothing more than public reassurance for the cameras. If it were otherwise, the global gold price would be declining.

Brazilian central bank President Henrique Meirelles said the dollar is weakening because of problems in the U.S. economy and there’s very little policy makers can do about it.

“No country in the world can hold the dollar,” Meirelles said today during a speech in the city of Curitiba. He said his comments weren’t specifically tied to the Brazilian currency’s value.

Source: bloomberg.com