Marco Materazzi
Player Valuation: £8m

http://www.fifa.com/worldranking/rankingtable/index.html
Ecuador are 12 places higher than Brazil, that makes sense.
Exactly, Brazil haven't played a competitive match since July 2011, hence their drop down the rankings. They will jump quite a few places I suspect in the next one as they are obviously playing in the Confederations Cup at the moment.Nearly sure it's based on results in recent tournaments and qualifying. Brazil not having to qualify for the next WC might have something to do with their ranking.
I think there are flaws in the system.