NYTimes reports on the G8:

One item not discussed, despite wide expectations that it would be, was currencies, and particularly the possibility of intervention to prop up the slumping United States dollar. Japan’s finance minister, Fukushiro Nukaga, the host of the meeting, said currencies were discussed only on the sidelines

So, our super elites describe the problem which how can one not with an elephant not just being in the room, but now sitting on your face?

But, of course offer nothing in terms of solutions.