BRAZIL GETS IT RIGHT!
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Guido Mantega, Brazil’s finance minister, has warned that the U.S. Federal Reserve’s “protectionist” move to roll out more quantitative easing will reignite the currency wars with potentially drastic consequences for the rest of the world.
“It has to be understood that there are consequences,” Mr. Mantega told the Financial Times in an interview on Thursday.
The Fed’s QE3 program would “only have a marginal benefit [in the U.S.] as there is already no lack of liquidity?.?.?.?and that liquidity is not going into production.”
SOURCE: http://www.cnbc.com