japan, europe, uk, none of those economies are really attractive over the medium term. they have tremendous structural headwinds. australian numbers have held up nicely largely because a lot of the investment projects in australiay long term. the fact that the world hit a soft spot middle of this year hasn't hurt it very much. they still, the rates argument is not what it was before but it's not as if anybody else's rates are that much higher. there's a sense that central banks looking around with their portfolio, top heavy in euros and dollars are trying to diversify into currencies that they have more confidence over the longer term. >> shrugging off, the aussie/dollar will shrug off that china proxy which it's had for quite a while. >> well, it won't shrug it off in case there's a complete collapse, if we go into a global worldwide slow down, australian dollar will fall very sharply just as it did in 2008 and as it's done once or twice since in the brief periods of confidence loss that we've experienced. i think in this world where, you know, market sees a little bit of growth, they see central banks, the fed maybe won't do as much quantitative easing on the schedule as expect ad month ago but very much orie