do beyonduld draghi what he has done? guest: it has been announced to-three months ago, it's nothing new but it shows a progression. japanese have done the same. buy buy bonds and they stocks. we have seen two of the four , the u.k. and the u.s. have not moved into that area. they seem to be limited to buy anything other than treasuries and near agencies. the central banks move in the direction of promoting stability. they continue to buy spanish and italian bonds to promote a sense of stability. that is what central bankers have tried to do the last 5-6 years. it has worked for them. now it is working less. that is not suggesting volatility will continue to behind. high.be that will be dependent on economic growth and the results of these policies in the past of generated. nonetheless central banks will do their darndest. i don't agree with it but you cannot fight a central bank that has been proven over the past few years. i don't expect investors will try to. erik: more protests, more populism. how about clive crook, o