So, ladies and gentlemen, the Vice President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today's meeting of the Governing Council, which was also attended by the Commission Vice President, Mr. Dombrowski. Based on our regular economic and monetary analysis, we today conducted a comprehensive assessment of the economic and inflation outlook and our monetary policy stance. As a result, the Governing Council took the following decisions in the pursuit of its price stability objective. As regards non-standard monetary policy measures, we will continue to make purchases under the asset purchase program at the current monthly pace of 80 billion euros until the end of March 2017. From April 2017, our net asset purchases are intended to continue at a monthly pace of 60 billion euros until the end of December 2017 or beyond if necessary and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim. If, in the meantime, the outlook becomes less favourable or if financial conditions become inconsistent with further progress towards a sustained adjustment of the path of inflation, the Governing Council intends to increase the program in terms of size and or duration. The net purchases will be made alongside reinvestments of the principal payments from maturing securities purchased under the APP. To ensure the continued smooth implementation of the EuroSystems asset purchases, the Governing Council decided to adjust the parameters of the APP, the asset purchase program, as of January 2017 as follows. First, the maturity range of the public sector purchase program will be broadened by decreasing the minimum remaining maturity for eligible securities from two years to one year. Second, purchases of securities under the asset purchase program with a yield to maturity below the interest rate on the ECB's deposit facility will be permitted to the extent necessary. The key ECB interest rates were kept unchanged and we continue to expect them to remain at present or lower levels for an extended period of time and well past the horizon of our net asset purchases. Today, extension of the asset purchase program has been calibrated to preserve the very substantial degree of monetary accommodation necessary to secure a sustained convergence of inflation rates towards levels below but close to 2% over the medium term. Together with the sizable volume of past purchases and forthcoming reinvestments, it ensures that financial conditions in the Euro area will remain very favourable, which continues to be crucial to achieve our objective. In particular, the extension of our purchases over a long or horizon allows for a more sustained market presence and, therefore, a more lasting transmission of our stimulus measures. This calibration reflects the moderate but firming recovery of the Euro area economy and still subdued underlying inflationary pressures. The governing council will closely monitor the evolution of the outlook for price stability and, if warranted, to achieve its objective will act by using all the instruments available within its mandate. Let me now explain our assessment in greater detail, starting with the economic analysis. Real GDP in the Euro area increased by 0.3% quarter on quarter in the third quarter of 2016, following similar growth in the second quarter. Incoming data, notably survey results, point to a continuation of the growth trend in the fourth quarter of 2016. Looking further ahead, we expect the economic expansion to proceed at moderate but firming pace. The pass-through of our monetary policy measures to the real economy is supporting domestic demand and has facilitated the leveraging. Improvements in the corporate profitability and very favorable financing conditions continue to promote a recovery in investment. Moreover, sustained employment gains, which are also benefitting from past structural reforms, provide support for households, real disposable income and private consumption. At the same time, there are indications of a somewhat stronger global recovery. However, economic growth in the Euro area is expected to be dampened by a sluggish pace of implementation of structural reforms and remaining balance sheet adjustments in a number of sectors. This assessment is broadly reflected in the December 2016 Euro system staff macroeconomic projections for the Euro area, which foresee annual real GDP increasing by 1.7% in 2016 and 2017 and by 1.6% in 2018 and 2019. Compared with the September 2016 ECB staff macroeconomic projections, the outlook for real GDP growth is broadly unchanged. The risks surrounding the Euro area growth outlook remain tilted to the downside. According to Eurostar's flash estimate, Euro area annual HICP inflation in November 2016 was 0.6% up further from 0.5% in October and 0.4% in September. This reflected to a large extent an increase in annual energy inflation, while there are no signs yet of a convincing upward trend in underlying inflation. Looking ahead, on the basis of current oil futures prices, headline inflation rates are likely to pick up significantly further at the turn of the year, mainly owing to base effects in the annual rate of change of energy prices. Supported by our monetary policy measures, the expected economic recovery, and the corresponding gradual absorption of slack inflation rates should increase further in 2018 and 2019. This pattern is also reflected in the December 2016 Euro system staff macroeconomic projections for the Euro area, which foresee annual HICP inflation at 0.2% in 2016, 1.3% in 2017, 1.5% in 2018, and 1.7% in 2019. By comparison with the September 2016 ECB staff macroeconomic projections, the outlook for headline HICP inflation is broadly unchanged. Turning to the monetary analysis, broad money and three growth moderated in October 2016 with its annual rate of growth decreasing to 4.4% after 5.1% in September. As in previous months, annual growth in M3 was mainly supported by its most liquid components with the narrow monetary aggregate M1 expanding at an annual rate of 7.9% in October after 8.4% in September. Loan dynamics followed the path of gradual recovery observed since the beginning of 2014. The annual rate of change of loans to non-financial corporations increased to 2.1% in October 2016 from 2% in the previous month. The annual growth rate of loans to households remained at 1.8%. Although developments in bank credit continue to reflect the lagged relationship with the business cycle, credit risk, and the ongoing adjustment of financial and non-financial sector balance sheets, the monetary policy measures put in place since June 2014 are significantly supporting borrowing conditions for firms and households and thereby credit flows across the Euro area. To sum up, a cross-check of the outcome of the economic analysis with the signals coming from the monetary analysis confirmed the need to take today's monetary policy decisions so as to preserve the very substantial amount of monetary support that is necessary in order to secure a return of inflation rates towards levels that are below but close to 2% without undue delay. The monetary policy is focused on maintaining price stability over the medium term and its accommodative stance supports economic activity. As emphasized repeatedly by the governing council in order to reap the full benefits from our monetary policy measures, other policy areas must contribute much more decisively both at the national and at the European level. The implementation of structural reforms in particular needs to be substantially stepped up to reduce structural unemployment and boost potential output growth in the Euro area. Structural reforms are necessary in all Euro area countries. The focus should be on actions to raise productivity and improve the business environment including the provision of an adequate public infrastructure which are vital to increase investment and boost job creation. The enhancement of current investment initiatives progress on the Capital Markets Union and reforms that will improve the resolution of non-performing loans will also contribute positively to this objective. In an environment of accommodative monetary policy the swift and effective implementation of structural reforms will also make the Euro area more resilient to global shocks. Fiscal policies should also support the economic recovery while remaining in compliance with the fiscal rules of the European Union. Full and consistent implementation of the stability and growth pact over time and across countries remains crucial to ensure confidence in the fiscal framework. At the same time it is essential that all countries intensify efforts towards achieving a more growth friendly composition of fiscal policies. We are now at your disposal for questions. Mr Jones. So Draghi, two questions please. Could you tell us if any other options were presented in today's meeting and if so what they were and could you tell us please as well whether the decision today on the QE extension and the changes to the design were unanimous? Thank you. Thank you. Yes, the two options that have been presented were the ones that have been studied by the committees in the preceding months. One for so the option of continuing with 80 billion euros a month for six months and the other one is the one that received a very, very broad consensus by the governing council. Thank you. Mr Canepa. Francesco Canepa. Yes. So when you decided to buy bonds with the maturity of less than two years how do you plan to deal with criticism that that sees the ECB getting involved with government's short-term financing needs? And the other question regards the buying below the deposit rate. In the minutes you said, the chief economist I think said that any change would have to make economic sense. So what's the economic benefit of buying bonds that yield less than 40 basis points below zero? Thank you. Thank you. First of all let me say that what I said during the introductory statement but it does need some emphasis. The purchase of securities under the purchase probably the yield to maturity below the interest rate on the ECB deposit facility will be permitted to the extent necessary. So it's an option. It's not a necessity. And as a matter of fact the relevant committees will look in January and in the coming months when this could become a necessity. So it's more to sort of give an option for continuing a smooth implementation of the program than for any other reason. Now about the general involvement of the ECB with the financing needs of the governments is frankly there is any difference here. We operate on the secondary market as well. It's just nothing changes. We've changed the maturity but nothing else. Thank you. Mr. Speciale. Alessandro Speciale, Bloomberg News. Mr. President, first of all a question on the reduction of the pace of purchases from 80 to 60 billion per month. Could you tell us why you felt necessary to ensure this second option, this more sustained market presence? And so what was the rationale for this decision? And the second one is you said that I mean as you just said to the extent necessary it will be possible to purchase below the deposit rate. The fact that the committees still have to study this doesn't mean that this is not immediately an option and what may be the conditions that make it necessary under are there going to be caveats, are there going to be some sort of limitations in doing that and what sort of instructions would you give to the committees? Thank you very much. Thank you. Now on your first question, first let me say that we have to go back to March 2016 when we upsized our program from 60 to 80. And at that time the outlook for a returned, for a sustained return to our inflation objective was much darker. And deflation risks were not immaterial at that time. So at this point in time we basically judged that the outlook as far as the sustained return to our inflation objective is not very different from what it was at the beginning of the program when it was scaled to 60. And more specifically the risk of deflation has largely disappeared. However, uncertainty prevails. Uncertainty prevails everywhere. And we certainly see and assess the progress of the overall situation at the end of 2017. But since uncertainty prevails everywhere that's the reason for this sentence in the introductory statement that says if in the meantime the outlook becomes less favourable or if financing conditions become inconsistent with further progress towards a sustained adjustment of the path of inflation the governing council intends to increase the program in terms of size and or duration. Now this means two things. First of all the governing council is acting in a pragmatic and flexible way to cope with risks that may materialize in this period of time. Second, that there is no question about tapering. Tapering has not been discussed today. Now on the second point I have to refer to the committee's work on that point. As I said this is an option not a necessity and the committees will assess when it should become so. When and if it should become so. As you know the amounts of purchases and the maturities of purchases do depend on the current constellation of rates and as this changes so it changes the necessity to buy certain maturities rather than others. Thank you. Mr Phallus. Tom Phallus from the Wall Street Journal. Mr Draghi you said tapering hasn't been discussed today. How much longer do you think it will be until that discussion needs to be had in the governing council? How much pressure is there to hold that discussion on a possible exit? My second question is on Italy. There was obviously no vote this weekend. How vulnerable is the country and its banking sector to a slow down to a removal of the ECB stimulus measures in your view? Thanks. Thank you. On your first question you see the intention, the underlying narrative of our monetary policy decisions was exactly to maintain the extraordinary degree of monetary accommodation that we have in place. And to this extent without distorting price will silly continue to exert pressure on market prices to deliver exactly the degree of monetary accommodation that we want. The second purpose is to transmit a sense that the presence of the ECB on the markets will be there for a long time. So a sustained presence is also the message of today's decision. And that's why tapering was not discussed. On your second question you asked me about vulnerability. I think that the vulnerabilities that both the banking system and Italy have been there for a long time. And so they ought to be coped with. I'm confident the government knows what to do. And they will be dealt with. Mr. Trig? Mr. Trig, Market News International. Mr. President, you've underlined that the ECB can increase the volumes and duration of the program if developments change. Does that also mean, by contrast, if developments are better than expected, the ECB could slow purchases or cut the duration of the program? And if not, why not, given that the ECB always says that it's a data-driven institution? Thank you very much. You're welcome. But we haven't discussed that at all today. We seem to be fairly far away from any such high-class problem. Thank you. Mr. Hewing? Jack Hewing, New York Times. I wonder if I could go back to the word tapering again. Although you said that's not discussed, the markets are certainly taking it otherwise. And the analysts are using the word tapering. You can explain to us what's the difference between what you did today and what people generally consider to be tapering. Thank you. Well, I mean, the word has meanings, several meanings depending on who's using it. But the way one would look, I mean, the natural way to look at a word like that is to have a policy whereby purchases would gradually go to zero. And that's not been discussed. As a matter of fact, it's not even been on the table. Thank you. Mr. Konzi? Mr. Draghi, this is again about Italian banks. We know that today the supervision council is meeting and probably won't be able to avoid discussing the situation of Italian banks. So my question is, in your view, do you think Italian banks could be facilitating and facing their problems by being given more time right now? Or do you think the urgency of the matter is such that it must be dealt with very quickly? Thank you. Thank you. You know that on the basis of the so-called separation principle, I have to answer your question saying, ask the supervisory board for an answer. Thank you. Mr. Schröss? Thank you. Mark Schröss, Birdenzeitung. Two questions. The first one, another option to safeguard the smooth functioning of the QE program would have been to raise the issue and issue the limits. What was the reason not to do so? And the other one, very simple. The 1.7% in 2019, is that in line with close, below but close to 2%? Thank you. Well, the answer to the second question is not really. So we have to persist. And we know that there is gradual convergence to that objective. And so that's the answer to the second question. The answer to the first question is that it was actually, as you know, the committees looked at that as well. And there was an increase in awareness of the legal and institutional constraints that would make such a change difficult. And that's why it was the removal of the so-called the FR floor was preferred. Mr. Lacour? Mr. Lacour, thank you. Two questions, Mr. President. Maybe can you quantify how much inflation and growth will benefit in your Eurozone given the decisions of today? In other words, how many QE is embedded in these new projections? Can you say this for the coming years? And second question, inflation is expected to be well above zero in the coming years. And by the same time, ECB key interest rate will remain at zero. So we will have the situation of real interest rate well in negative. And that will be maybe difficult to explain and will trigger here a lot of criticism more in this country especially.  Well, your first question is that we don't have, I don't have the estimates for that embody today's decisions in measuring, in sizing the impact on GDP growth and inflation. Until the last, so we have the impact of the past decisions which account for a cumulative 1.3% growth over the three-year horizon and 1.5% inflation over the three-year horizon. Now on your second question, certainly as inflation expectations, if inflation expectations will continue their recovery, that will mean falling real rates which on one hand will certainly have a powerful stimulative effect on the economy. On the other hand, it will also have an impact on the real return on savings. So we will assess the situation in the coming months and we see which one, what was the net balance of all these different effects. This is the situation, in a sense it's a situation that shows an improvement in the overall. But I should also say that in the meantime also yields on bonds are going up. And so it's not at all clear that in the end the real return on savings is actually going down. We have to see what happens on the nominal rate and the expectations of inflation. Mr. Malin? Jan Malin, Hannitz, but Mr. Draghi, my first question is on Trump effect actually. After the US election, interest rates in the US have gone up considerably and the dollar has depreciated against the euro. What does that mean for the ECB's monetary policy? Do you see the risk of abrupt interest rate increases and spillovers to the eurozone? And my second question is on the legal questions. Mr. Merch has recently said that the European Court of Justice has confirmed the legality of the ECB's monetary measures provided that the self-imposed boundaries are observed. Now you changed some of the self-imposed boundaries. Are you not fearing that this would again raise legal issues? Thank you. Thank you. The answer to the second question is no, because the self-imposed boundaries to which Mr. Merch was referring are not the self-imposed boundary which we have removed today. So different things. The answer to the first question is it's very difficult to assess what the effects of these big changes like the radically new administration in its look at the world in the United States or for this matter even Brexit. Or for this matter even the outcome of the Italian referendum a few days ago, all three events were expected to have major effects in the world.  So first of all we know one thing, markets were more resilient and this has probably many reasons, many causes, one of which is certainly the good work that regulators have done in the last seven, eight years to strengthen the intermediaries and the markets. But there are also other good reasons, an overall better macroeconomic policy context. But the point is that all these events, especially Brexit and the new administration in the United States, have effects that are by their very nature that are going to develop their full dimensions in the medium to long term. So we'll certainly see consequences of these changes in the medium to long term. Not necessarily as I was saying in the short term, but these consequences are very, very difficult to assess now. So it's very difficult to assess what is the medium long term consequence of possible change in the US administration economic policy. But I should stress the possible, because we are still in the very early stage. Mr. Merli? Alessandro Merli of Il sole venti quattro ore. You've alluded in the last answer and also last week in an interview to the fact that political uncertainty is high, you actually defined it dominant. After the Italian referendum, is this concern heightened for you beyond market response? I'm thinking in particular of the need which is stress repeatedly of reforms. The country certainly needs reforms and it's possible. It's probable that there will not be forthcoming in a country without a government and with possible elections in the several next few months. I mean, when I refer to that dominant political uncertainty, I was not saying something extravagant or difficult or unforeseen. Just look at the election calendar for the year to come. And so that is by itself a source of uncertainty. Look at the rest of the world. Look at what's happening with the emerging market economies. Look at what's happening also in some segments of the financial markets. So there is a big uncertainty much of which is political and whether we can do something about that or not is an open question. I think what the central banks can do is to keep a steady hand, namely continue with the monetary accommodation that is necessary to achieve their objective. That's what... Now, having said that, countries that need reforms have to undertake them regardless of what is the general political uncertainty. Because the best way for countries to cope with this uncertainty is actually to restore growth and employment and job creation. Mr Boindemann. Thank you. Mark Boindemann, NRC, Handelsblatt. Mr Draghi, you said that the Governing Council can increase the programme again in terms of size and duration if conditions would make that necessary. Does that mean that the monthly amount can again be raised from 60 to 80 billion? And a second question if I may, on the removal of the deposit rate floor. Critics say that this basically means for the central banks, the national central banks that do the purchases, that this means that they immediately incur an interest rate loss. Do you share that assessment? Thank you. Yeah. Now, the answer to the first question is yes. Yes, certainly. It can increase... It can go back to 80. As a matter of fact, this number was quartered, so it's a range of options, and we will see. That is... But the key message underlying this sentence if in the meantime the outlook becomes less favourable, the key message is to show that there is no tapering on site, to show that the ECB is going to stay in the markets, to show that it will continue to exert pressures on pressure, on market prices, though not... We don't want to distort them, of course. But that's the meaning of that. The second point is, yes, indeed, there is going to be a loss, but it's not... I mean, our mandate is to pursue price stability. It's not to maximise central bank's profits. Thank you. Mr. Perez? Mr. President, this is Claudio Perez from El País from Spain. The Eurogroup sat... Here. The Eurogroup has said clearly not to the plan of the European Commission on the stimulus of 0.5% of GDP. Do you have the feeling that you are going to one direction which is stimulus because of these uncertainties you have described it, and the ministers are choosing exactly the opposite direction, which is no stimulus in the fiscal side? Well, I mean, concerning the fiscal aspect, what we've said on and on, really, is that indeed, other policies, one of which is fiscal policy, should also complement the action of the monetary policy in order to reap its full effects. But we also put emphasis, all the times, on the composition of the budget in the sense of making it more growth-friendly, which basically means lower taxes, lower current government expenditures, higher investment expenditure, targeted to productivity-enhancing investments. As far as the size is concerned, it really depends on whether the countries have fiscal space or not. And we always stress the fact that fiscal policy should respect the stability and growth part. And we always use the wording as the anchor of stability or credibility in the euro area. And the reason for this is that, if you look, I mean, well-designed rules, if they are complied with, are essential for two reasons. They give credibility to the governments that comply with these rules. And even, perhaps more importantly, they increase trust between governments. And why is so important that this trust be there? It's very important because when we talk about further steps towards the deeper integration in our monetary union, these further steps are based on trust. And these further steps are necessary to complete our monetary union. But we can do so and, therefore, making a union stronger only if there is trust between governments. Mr. Mastro Buoni? Tony Mastro Buoni, la Repubblica. Mr. Draghi, you hinted at the terrible calendar of 2017 many elections, and we still don't know what will happen in Italy, but the government will come. The situation of the banks is very difficult. So do you think there are still some risks for the euro in the next months and next year? And the second question is, how would you respond to people from some countries that say that you are, in some way, biased, that you are helping, especially the countries in the southern Europe, including Italy with the QE and now the extension of the QE? Thank you. Thank you. Well, the answer to the second question is no, of course, I'm not biased. And I think we've given plenty of evidence that the policy of the ECBs, first of all, it's decided by the governing council. And we are there not as represented to our countries, me less than everybody else, of course, but also as we are there in our personal capacity and our mandate is not to ensure some sort of national objective but to ensure the price stability objective for the whole of the euro area. And that's what we have done. Our policies, incidentally, our policies are not very different from the policies that are being put in place by all the large central banks in the world. We are no exception. No, we don't, at this point in time, frankly, we don't see risk for the euro area. I think different countries have different vulnerabilities. As I was saying before, both the macroeconomic context is better than it was five years ago when we had contagion but also financial markets and financial intermediaries are stronger. And so these problems, though very important, though very urgent to be, and therefore they should be addressed with effectiveness and speed, remain contained within the individual countries. Now, having said that, since I mentioned before, the trust is one condition for our union to proceed to progress towards a more complete, as one would say, more perfect monetary union. There's another condition that's also essential and that's convergence. Countries need to converge and in order to converge, they have to undertake these structural reforms that would enhance convergence. And some of these reforms in some countries, each country has its own agenda for these reforms. So they are very, I mean, the fact that structural reforms and convergence are being pursued in various countries is important, not necessarily because it costs risks for the euro but because it strengthens our monetary union. Mr Daniels? Good afternoon. How would you counter the argument that the ECB intervention and monetary policy has in some ways stifled reform momentum in the eurozone? I mean, we've been discussing this for now a long time. Our view is different. Our view is actually that easy monetary conditions should help undertaking monetary reforms. And the reasoning is, there are several reasons for this. First of all, the structural reforms that have been undertaken in the euro area after the sovereign crisis were actually undertaken when interest rates were low, had already been low for a while. Second, we should ask ourselves what sort of structural reforms are, in a sense, related to the level of interest rates prevailing in the markets. And there are certainly some reforms that are related. The reforms that have to do mostly with budgetary needs take the pension reform. It's quite clear that if market conditions are overstressed and countries have or are about to lose market access unless they make their debt profile sustainable, in that case the level of interest rate certainly produces a pressure to change to reform in the direction of making debt more sustainable. But there are many other structural reforms equally, if not more important in the long run like reform of the educational system, reform of the judiciary, the reform of the electoral system, take the case of Italy, the reform of the constitution that have nothing to do with the level of interest rates. So even logically, there isn't such a tight link between the level of interest rates. Also, we have internal research, as a matter of fact, that shows that there is no such a link between the level of interest rates and therefore the degree of accommodation of our monetary policy and the willingness by governments to undertake the needed structural reforms. Mr. Barbera. Thank you, Mr. Barbera-Lastampa. Mr. Draghi, among the options that the Italian government is starting to solve the problem of the banking system, there is an European loan from the ESM. Could you tell us just in general, if you think this could be a good solution to solve those problems all these months? I must confess, I know very, very little about this ESM loan to Italy for the banking system. But let me just give you the article number three of the ESM says the following criteria and hierarchy of prior actions shall be met in order for a request for financial assistance for the purpose of recapitalizing financial institutions to be considered eligible. The beneficiary should demonstrate the existence of a lack of alternatives for recapitalizing the financial institutions concerned. This should first reveal an inability to meet capital shortfalls via private sector solutions and secondly, an inability of the beneficiary ESM member to recapitalize said institutions without incurring very adverse effects on its own financial stability and fiscal sustainability. Second, the financial institutions concerned should have a systemic relevance or post-series threat to the financial stability of the euro area as a whole and the beneficiary ESM member shall demonstrate an ability to reimburse the loan granted. And so on. I mean, I don't want to read the whole thing. It basically shows that it's a rather complex thing and it shows also that I know very little about that. Thank you. I'm sorry. Mr. Jakesh? Klaus Renner Jakesh at the German Television. Mr. President, I also have to refer to a speech your colleague Mr. Merch has held here in Frankfurt some weeks ago in which he has hinted that the possibility of tapering at least being discussed on today's Governing Council meeting. Now you say that it was not on the agenda and the account and the new measurements have not to be interpreted in such a way. Could you tell us please how we have to interpret these different signals coming out of your institution? Thank you. I can tell you what happened today. It was not discussed. Mr. Ten Bosch? Thank you. Gildenbosch, Financial Dagblad in Amsterdam. Mr. Draghi, you said that tapering was not discussed. It's not on the table. Does this mean that not one member of the council expresses opinion of being in favour of tapering? That's right. Exactly. Mr. Plickert? Mr. Draghi, again coming to the two options that you were presented at the meeting. One is six months with 80 billion and the other nine months with 60 billions. What were the arguments in favour of the second option? Why is it better to reduce the amount and to run the programme longer? Well, to some extent I've dwelt with these arguments before. We went back when we increased the size in March and we asked ourselves what were the conditions of the economy at that time? What were the prospects for a sustained return to our objective of inflation? What were the risks of potential deflation? And at that time we thought that raising to 80 would have been an answer to the concerns that we shared with the governing council head at that time. So in deciding new scale, the new size of 60, we simply went back. We just went through the same analysis account of which I've given in a sense during the introductory statement in various parts of it. And we also saw that the risks of deflation, the inflation distribution are much more skewed towards out of deflation. So that was the reason. The second reason is the length of time. And that's where we wanted to assure sustained presence in the economy, in the markets. We want to assure that the ECB would continue to exert pressures on market prices, though as I said we don't want to install them. And we want to assure that a reduction in size doesn't mean at all, as I said before, any tapering. And so that's the logic behind the choice of 60. But as I said, the program remains flexible and the flexibility is stated by the sentence that I read before starting if in the meantime the outlook becomes less favorable. Danilo Taino, Corriere della Sera. Looking to the future, President, what do you read in the rising price of oil? Is it important only as a statistical element or do you think it can have structural importance in inflation? Well, it's an important change after many years that oil prices have gone down to, I believe, an unprecedented extent. Now they're rising again. And the explanations are, in a sense, symmetric to what were the explanations for their downfall. Namely, better demand conditions, better supply conditions, and to some extent, I think significant extent, the re-establishment of some international agreements. There is no question that these higher prices will feed into higher headline inflation, though we have to see how this is going to be and as exactly the same considerations I remember was doing in the other direction two or three years ago. We have to see to what extent this is a one-off effect, to what extent will have a secondary effect and to what extent this will affect inflation excluding energy, which we are not seeing yet any effect on it. And when I said that there is no sign of convincing upward in the underlying inflation. And our final question goes to Ms Weisbach. Hi, Annette Weisbach from CNBC. Two questions for you. Why haven't you opted for a QE extension without an end date if you want to show continued presence in the markets? Was that a compromise among governing council members? And second question is another point was the scarcity of assets, not only for your program, but also for the markets in itself, for the repo market, for example. Are you confident that with the reduced amount of purchases now per month, those tensions in these markets like the repo market are lessened now? And I was hearing that you're also quizzing market participants about potentially creating mortgage-backed securities that could get a higher rating through the correlation effect and by that getting rid of the safe asset problem. Thank you. Thank you. On your first question, as a matter of fact, I mean, our program says it goes until the end of December 2017 or beyond, if necessary, and in any case, until the governing council sees a sustained adjustment in the path of inflation consistent with its inflation aim. So it is, in a sense, open-ended. It's state contingent, we would say, rather than open-ended. Now, on the repo market, as you know, we've taken important decisions on the securities lending program and we decided that cash will be accepted as collateral for the PSPP securities lending program up to the limit of 50 billion. And details, as far as this is concerned, will be announced at 3.30 today. As far as the repo market is concerned, we are aware of the ongoing developments in the Euro-era repo market. We will continue monitoring the developments, but the PSPP securities lending framework is sufficiently robust to ensure a continued smooth functioning of the repo markets. So we are aware that our purchase program has contributed, among other relevant factors, to increase the repo rates used to obtain collateral of the best credit quality. But despite these price increases, repo market volumes continue to signal functioning repo markets and price discovery. So while we don't have any indication that higher prices for some specific types of collateral are hampering the transmission of our monetary policy, we have nevertheless discussed what ECB could do and I just announced one of the things that will be detailed in the 3.30 announcement. So and we've decided also to enhance our securities lending program. Thank you. Thank you very much.


Good afternoon everybody, I'm Tommy O'Brien, coming to you live from TFNN headquarters in St. Petersburg, Florida at 2 p.m. Eastern time on Tuesday, two hours left to go in the trading day. We have a mixed market of sorts, NASDAQ leading the way up NASDAQ, positive by 30 points from almost four tenths percent, trading at 8,129, we got the S&P still negative by about one point, trading at 29.74, pretty close to flat. Dow Jones the Lagger, negative 67 points or about a quarter percent off in the red, trading at 26,738, we'll start things off, we'll start it off with the NASDAQ 100 because it's been quite a run folks, check out that overnight low, 77.43, we're now more than 100 points above that level, 78.46 up more than a half a percent on the NASDAQ 100, let's jump over to some of the indices, there is your NASDAQ 100 just from some context, that's a five minute chart, man it's been quite a good day since about 5 a.m. in the morning. S&P 500, pretty similar story, there's your lows at 4 and 5, 6 a.m. in the morning, we start higher, 29.64, we're now up at 29.79, flirting with basically flat to slightly in the red. Dow 30, little bit of a different story, we were down there at 4 and 6 in the morning, we were back down there at those lower levels right after the opening bell, check out that low, 26.66, lots of sixes in there, and session highs as we speak though on the Dow, as we have two hours left in trading, we'll see if the Dow and the S&P can sneak their way into positive territory before that closing bell. Crude oil, $57.83 had been above $58 briefly early this morning, back under that level, we'll get API number for inventory for crude, two and a half hours from right now, 4.30 Eastern time tonight, and the gold contract, right at $1,400, volatility in gold as well, we were as low early in the morning, below $1,390, gold bulls got a like that you're getting back above that $1,400 price point just even for a mental standpoint in terms of that round number, $1,400 and Euro-US dollars sitting $1,1211, in terms of what else you have happening out there, touched on it last hour, Pepsi coming out with their earnings, pretty interesting in terms of what they beat and what they put up to jump over to their chart, they beat on earnings per share, they beat on revenue, but Pepsi priced for perfection is the analyst accord and down 1.2% but put this in context folks, check out that run on Pepsi going from about 105 up to 130 just this fiscal year, so maybe just giving it a little bit of breather as it was just priced for perfection. Stay tuned, we've got a man Dave White back in the saddle at two o'clock, Steve Rhodes filling in Live at three and Larry Pezzavento live at four Eastern time, a great Tuesday.


understandable. Good afternoon, Wilfrid Spiegelberg. Apache Unicorn is a scheduled plugin for batch workloads. I was supposed to be here with my colleague Craig, but he stuck in the US with some personal things that he needed to take care of, so it's just me here for today. Apache Unicorn, as we've just announced, we've graduated to a top level project on Apache that came out yesterday, so that's a big thing to hear. We'll go in and we'll dive into what we're going to do today. We're going to look at why we're doing Apache Unicorn, why did we design it, why are we running it, why do we need this, or why do we want this for the batch workloads. And then we'll dive into a bit of the architecture. We've been around for about four years, three and a half years, which was before the plugin framework was there, so we come from an old architecture into a new plugin framework architecture. And then we'll have a short demo and I hope that I've got some time left over at the end for questions, and if not then we'll sort of things out along the way. So the plugin framework is only just released in 1.0, so it's in tech preview at the moment, and we'll dive into that a little bit more. This must start sounding familiar by now. All the talks that we've had today are talking about big data workload, batch workloads, needs to be different. It doesn't work like services on Kubernetes. So from the perspective where we came from, we're coming out of the yarn in the messes world, we look at pods or applications that get scheduled that have got a number of different pieces and they belong together. It's a logical grouping. It's not so specific for anything that we do together. Not all workloads are equal. Sometimes you've got things that you want to be first in first out, financial data. You first want to process the data from yesterday before you do today's. That's the first thing. But if you've got interactive sets of data, you want to do that fair sharing. You want to make sure that everybody gets their resources and everybody goes through the way that they have submitted things. The other thing is that if you look at batch workloads, you want to do queuing. It's been mentioned by everybody. You want to do some queuing. You don't want to have something external needed to be, need to resubmit a task if it doesn't fit within the quota. You want to hold on to it. You want to schedule it later and just go through with all of that. Workload queuing also because of the fact that your demand is not constant. Often jobs run during the nights, during the evenings for the standard batches that get run, but the interactive workloads that will run more during the day. You've got completely different demands on your cluster during the time. You want to postpone certain workloads.  Why are batches unicorns? We looked at what the default scheduler did and what we had as a demand from the customers and what we were doing on a yarn and a mess of this kind of thing. In the default scheduler, we don't have an application concept. You can't just say group all these things together and run this as one thing. Schedule them, put them in resources, do whatever you need to do. The scheduling algorithm is also limited. We've got one queue. We sort the queue. It's based on the pots that are there and then if we've sorted all those pots, we're going to run them. But the queue that we've got is one queue for the whole cluster. I can have multiple types of workloads running at the same point in time. I really would like to have multiple types of sorting algorithms. For instance, one namespace will run with the first team. First out, the other one will do fair sharing or priority-based queuing. So that's the other part. Limits and quotas, resource quotas are not part of the scheduler on standard community.  So somebody comes up and says, I want to run this batch job. Oh, there's no resources available. Now I need to come back and retry to submit that same kind of job again. And again, up until they've got the resources available. So that's a problem. The quotas, because they're hard enforced, don't allow me to do any of the queuing. So what do we do with Apache Unicorn? So we've got a different approach. We schedule based on applications. Whatever you decide is an application, we'll group together and we'll schedule that as part of one application. That can be anything from one pod or thousands of pods and pods that are created dynamically or pods that are submitted all in one go. So you decide on what to do there. We create a hierarchical queue system. So we set up a queue on a route, queues underneath and et cetera, et cetera. And we enforce the quotas in that hierarchical queue system. Later on, we'll look a bit more on how we do that and what that gives us and what the real extras that we get out of that. We can do in that hierarchical queue system, we can do flexible quota distribution. So I saw that in one of the other presentations coming back too. It's quota sharing. I think it was in Volcano that a group is using only half of that quota. Another group within the same team wants to use more. So we can now share that quota. Flexible quota sharing and flexible quota distributions we can set up in that hierarchical queue system. We've also got configuration for our sorting policies. So instead of having a pod sorting policy that runs out of one queue, we can sort at different levels. We can sort the queues, which queue needs to be first, which one needs to be later. How do you distribute your quotas between the queues? And then we can also look at application sorting. So you want to do priorities first in, first out, fair sharing, and all these things can be set up per queue. So I've got the possibility to have queues that are doing fair sharing, queues that are doing 5.0 based on the applications again. And then the last but not least, we've got the node sorting also. The area where we come from, we've got customers that want to run either in the cloud or on premise. And on premise, you've got a static cluster. You don't scale up, you don't scale down, at least most people don't. So that means that you want to be able to sort your nodes differently. In the cloud, you want to pack everything together, make sure that you get your costs under control, pack all the pots that you've got on one node, you do bin packing. And in an on premise cluster, you want to spread everything out as much as possible so you can use as much of the CPU that you've got available and do bursting and all that kind of stuff. There's also a couple of other things that we come up with a bit more advanced scheduling requirements. So Apache Spark has been used a number of times and as an example. So if you look at advanced scheduling, we've got the gang scheduling. You want to create an application, but you don't know beforehand how much it's going to use, but you want to give it a certain set of resources. So you specify on the Spark application or on any application what kind of gang resources you want to use. You can have multiple gang definitions, so multiple prototypes, multiple combinations of things. And we only start scheduling based on the resources that are available. So other thing that comes up in the gang scheduling and somebody mentioned that as SLA scheduling, I think it was called, is the soft and hard scheduling for the gang. If you say, oh, after five or 10 minutes or 15 minutes, I don't care if I don't have all my gang resources available, I want to start the job anyway, then you can say, okay, let's go and schedule and then we'll figure out where the rest of the resources come from. In other cases, you want to say, oh, no, no, I really need all these resources. If I don't get them, stop the application, just fail it and let's go on. That's over. All those combinations are possible and we can set up all of that stuff for you. Now look at the application sorting. Again, we sort per queue. Multiple applications are there. If there are streaming applications, there could be a Spark application. A Spark application could also be an SQL query that somebody wants to run and wants to have a direct output. So depending on where we run, depending on what we do, we can do the different sorts in there. And the third point was the note sorting. Binpacking, fair sharing, whatever you want to do. Top one, the binpacking private is in the public clouds, AWS, Google, whatever you want to run.  All these are available. Application sorting, game schedule and all that kind of stuff, you can set up different queues, different things, you can do whatever you want, but there's only one note sorting policy allowed for the cluster because there's no way that you can sort notes in a different way because you share all the notes on one thing. Yeah. In the previous slides, I stepped really quickly over what possibilities we've had in the hierarchical queue system. So let's dive in a little bit more into the hierarchical queue system. I'm going to take a really simple example. You can make it as difficult as possible. Again, we're coming from the yarn perspective. We've had customers that are running with hundreds of queues in five, six levels deep with all kinds of different combinations, all kinds of different setups. Again, all that stuff is also possible within Unicorn, but that's not something that I want to go in too deeply in around here. So we take a simple setup, root queue with underneath that, one tenant queue, and we're going to schedule from there. In Kubernetes level, we create three namespaces. We've got an unlimited and a limited namespace. Those two namespaces will be scheduled completely according to the Unicorn logic and whatever we want to do with application sorting and all that kind of stuff. We've got a non-Unicorn namespace, also sitting beside that. That one is not going to be scheduled by Unicorn because we're running as a plugin. We're running as an extension of the default scheduler. So what we say is those two namespaces, unlimited, limited, those will follow Unicorn and whatever you want to do and whatever you set up for the non-Unicorn namespace, we don't care. We don't touch it. It just goes through the logic that the default scheduler does with whatever you've set up there. In all these namespaces, we run an X number of ports. The ports underneath the non-Unicorn namespace are just separate ports. They get handled like that. The ports under the Unicorn namespaces will be handled as logical groupings in an application. The root has got a dynamic resource quota. It's the total size of the cluster.  The root gets adjusted. Quota grows. Quota shrinks based on what is available in the cluster. That's also important because we need that quota a little bit later on when we go and do the next step. Because the non-Unicorn namespace that we've created does not have a quota within Unicorn, but it still uses nodes and amount of resources in the cluster. So whatever is being used in non-Unicorn namespace will be deducted from the root quota that Unicorn knows how to handle. We don't use the quota that is set on the non-Unicorn namespace. We use the real usage that is there. We track the ports and we deduct that from whatever is there. Again, that makes the quota at the root level dynamically adjusted. And then within Unicorn we can set different quotas on different queues. In this case, we've set a resource limit as an example on the tenant queue of 75 gigabytes, 75 CPUs, whatever you want to set is fine. We've limited the limited queue also to 50 gigabytes and a 50 CPU. So because limited corresponds to a namespace, that namespace or the ports that will be running in the namespace will be limited by Unicorn to that 50 gigabytes. Unlimited does not have a quota set directly on it, but the parent of unlimited is the tenant queue. So what happens is that when we try to schedule things in the unlimited queue, we're not only checking does this queue have a limit, but we also look up to the parent and the parent of the parent just to make sure that we keep track of that quota that is there. So we do a recursive check. So effectively in the unlimited queue we've got a 75 gigabyte, 75 CPU limit set. However, checking the parents and the interaction at the different levels is a bit more complex because what happens is that the usage within the tenant queue is really the sum of all the queues that are below the tenant queue. So whatever resources are used in unlimited and limited get combined as a resource usage in the tenant queue. So if I use 50 gigabyte in limited, then really effectively unlimited can use another 25 gigabyte. How we share that 75 gigabyte limit from the tenant over these two queues depends on the sorting algorithm that I've set between the two queues. So if I do fair sharing, that means that based on the amount of quota that I've got, I get it nicely distributed over the two queues. If there's no load running in unlimited, limited will be able to pick up the 50 gigabyte at the maximum and gets limited at that point there. So again, looking at all these different ways of configuring things, we've got different queue sorting algorithms that we can set up. We can do the pods, the applications within the unlimited queue as a 5-0 setup while we do fair sharing in the limited queue. Combinations are endless. You can set up whatever you want. Then we'll go and have a little bit of a look at the architecture. So what did we do? How do we get where we are here for this architecture? So when we started, the system that was available was no extensions on the default schedule. We couldn't do anything. There was no plug-in framework. The extenders were probably still a little bit in development, but that was abandoned halfway through. So we really didn't have any options. So what we did is we built a simple architecture based on a plug-in, a shim, and a core scheduler. So because we came out of the yarn world, we thought we've got multiple resource managers, NaSOS, yarn, Kubernetes, all these kind of things. So we want to be able to run the scheduler on top of whatever resource manager is there. So what we decided was we built a core that does all the scheduling stuff. So that handles the queues, that handles the quota checks, that does all the things that we want to do of enforcing all that stuff. And we've got a shim that runs below that, that hides all the resource manager specific things for it. So the Unicorn Core doesn't really understand what a port is. It doesn't know what it is. It just knows I've got a resource request. It has got an allocation that I need to schedule. So we can remove the Kubernetes shim and we can put a yarn shim in place or a message shim in place that does the same thing. The Kubernetes shim talks to the API server and it converts whatever the API server gives in ports into what we understand in the core as applications and all that kind of stuff. So this was the design that we had when we started about three, three and a half years ago. This is what we've implemented. Over the time that we were running, the plugin framework became mature and we started using it. So how did we change our design from what was here, implementing the whole scheduler, doing all the things that the default scheduler did to something a little bit more in line with the plugin framework. So what we did is we pulled apart the shim. So we replaced all the things that we did within the shim with the plugin framework. So we integrated, instead of our own code for handling the default, for handling the binding of the ports and all that kind of stuff, we replaced that with using the plugin framework and letting the default scheduler handle all those things for us. So the unicorn core hasn't changed. It's exactly the same as it was before. We just replaced a part of our shim with callouts and the plugin integration. So in the current version that we've got, we provide you with both options. So you can run the old model or you can run a new model. Both work and both are generated from the same code. It's just a different docker image that we provide for you for running it. The plugin architecture. For people that have looked at the scheduler and have looked at extending the scheduler before, this is a familiar picture. So we're there. We started using that. So what have we done? What have we implemented? So we've picked up at the point that we started to pick up the pre-filter. In the pre-filter, what we do is we pick out the ports that unicorn needs to handle. So everything that belongs to either namespaces or things like that we want to manage as unicorn through the unicorn code, we pick those out and we handle them. Anything else? We just let go. We don't bother with it. We just let the pre-filter say, yep, it's all fine. Go and do your thing. The pre-filter ones, we filter out whatever we want to do. So at that point we get the pre-filter and release whatever has passed. So anything that passes through the pre-filter and what needs to be handled by unicorn has passed the internal quota checks for unicorn. We know that we are in the right state. So we know that it's an application. The application should be running. So it runs within the queue because not only can we limit things on resources, but we can also say, oh, you can only run 10 applications in that queue. So we know that that application is running and that we need to assign ports to them and it fits within the quota. So after the pre-filter has passed, the default scheduler will start looking for a note and assign a note to the port. Unicorn, the core scheduler does the same. We look at the note and we also do that. In the filter, those two things come together. So the default scheduler says, I've got a note for this running this port and we keep on rejecting the note up until we say, oh no, this is the note that we have now decided, unicorn has decided that this port needs to run on. And then we say, yep, oh, okay, and we release the port. At that point, we let the default scheduler take over. It will do all the rest of the things and go through all the stuff up until we get to the post bind. So what we do is internally within the SHIM, we have our own accounting, our own tracking, our own filtering and our logging things. And up until we get to the post bind, we say, we have stopped. We have got nothing to do. Post bind will update our tracking. For this, we've got a short demo that will show you two sets of ports that we do. We've got a set of ports that will be tracked by Unicorn and a set of ports that won't be tracked by Unicorn and we'll show you slightly in a quick overview in a two minute demo, but how that looks from the front end. And I hope that the sound works. And now for a short demo of Unicorn's new plug-in interface. We first create two namespaces, each having a quota of one CPU and one gigabyte of RAM. However, Unicorn has been configured so that namespace two will utilize the internal default scheduling logic rather than the queuing logic that Unicorn normally uses. Now we create three sleep pods in the first namespace. There's only room for two of these to run given our queue settings. So when we list the pods out, we can see here that in fact only two of the pods have been approved for scheduling and the third remains an appending status. We can also see that a scheduler name has been set of Unicorn and a default generated application ID has been assigned to these pods. We can also check the web interface and see that in fact a queue has been created automatically for this application. It is in a running state and two of the pods are active. Now we can clean up our pods so that we can create them in our second namespace. Now we create three pods in our second namespace. This namespace has been configured to bypass Unicorn queuing and so all three pods will be allowed to start at the same time and we can see that here. We can also see that Unicorn has been assigned as the scheduler, so we haven't completely bypassed Unicorn. However, we have not associated an application ID or a queue to these pods. We can see this in the web interface by the fact that there is no queue for namespace too. Thank you for watching our demo. Have a great day. So that was done by Craig who couldn't be here today. So what we saw here is we pick up the pods, we schedule a part of them through Unicorn and a part of them we don't. In summary, so what we've done, the community, we've released 1.0 with the tech preview of this. We're still missing a number of things, scale and performance testing we haven't done yet. We started working with other communities. Apache Spark was already named by the Fogano guys. We're working with them on the same Spark JIRA to get things going. We're still scheduling, we're trying to integrate with them also and do a little bit more. We've got some improvement in some future work that we want to do. The pre-filter gives us a lot of unschedulable pods which affects our auto-scaling badly. There's a pre-enqueue hook that just popped up about two weeks ago, so a week and a half ago. That is looking like a really good solution for what we do with batch scheduling for us. The other thing is that we've got a problem, something that we need to look at is with the auto-scaler, with the impact of the outer quota pods on the auto-scaler. That is really limited to what we do. If you don't use the auto-scaler, we don't have that problem. I think we've got some time left over for Q&A. I don't know how good I am at the time. Can you handle GPU resources? Yes. From a scheduling perspective, from the core perspective, we are resource agnostic. Whatever you define as a resource, even if you say, I want to schedule pods that use a resource called license, we don't care. You can schedule whatever you want. If you can define it on the pod and you can define it anywhere else, we can schedule on that and we can see it as a resource. Like you mentioned, there are some customers using deep hierarchies. Do you think that was a good idea? Do you think that they are being abused? Maybe you should, for example, force them not to do that again? I imagine it to be really hard to reason about it. You're saying six, seven, never. Yes. So, yes, those Q-hierarchies are really difficult to talk about and really difficult to understand. But the companies that use them, what they do, they've got a logical grouping of that. So, let's say you've got a multinational that says, I've got the company as the top level, then US as the second level, and other regions around the world as the second level. So, they've got a really logical setup for that and they spread and do things around that in that way. So, yes, it's unbelievably hard to troubleshoot and to understand. But, yes, there's a logical solution for customers. Thank you, Wilfred. I hope you stay around for more questions. I'll be around for more questions. We'll have a problem.


The all-progressive Congress has accused Governor Samuel Autumn of trying to impose a successor on the people. The state chairman of the party insisted that the party and its candidate, Reverend Father Eisen, the Lair, have no pact with any ethnic group in the state as they're speculated. They called on security agencies to appraise and for stall and break down law and order during the elections. To know that we are working 24 hours in ensuring that your mandates are not stolen, it is important to also know that our candidates and our party, the HPC, have no pact with any ethnic group or tribe. We are committed to ensuring that the immediate evidence of democracy is provided in the best possible way.


Hey everyone this is Helena Hart and in this video we're going to be sharing five powerful secrets to make any man miss you and we're bringing on a special guest today to talk about this topic Clayton Olson who's a relationship expert and coach and we just love Clayton's authentic advice because it really gets you permanent lasting results in your love life. So I hope you enjoy these five secrets and the last one he's going to share I've really found to be a game changer not only in my own life but in the lives of all of my clients so make sure to watch this video till the end to get that one. Hey it's Clayton Olson and Helena Hart from Commitment Connection asked me to come over and make a quick video called the five secrets the five ways to make any guy miss you. Now if this is your first time on the channel make sure that you hit the subscribe button below and if you really dig my content and want to see more content that I've created on attracting and keeping a high quality man click on my link in the description to go over to my channel and subscribe there as well. Now in this video I'm going to take this a little bit deeper and we're going to talk about some core principles that position you as a high value woman that makes such an impression on a guy that he has no other choice but to miss you when you're not around because the experience that he gets when he's in your presence is one that is irreplaceable. So let's go ahead and dive into the first principle. Number one take full responsibility take 100 percent responsibility for your individual happiness. Now this may seem obvious to some of you watching the video and to others maybe not so much. There's some interesting romantic myth that seems to circulate either consciously or subconsciously between partners that it's the other person's job to make us happy that it's my job to make them happy and if they're not happy somehow I'm failing them. Now this is not a recipe for making your partner miss you this is a recipe for making your partner resent you and feel inadequate and feel pressured because when it comes down to your emotions nobody has control over your emotions except you. So if you're not happy and you take it on as your responsibility to make yourself happy by beginning to get in touch with the things that you love by beginning to take care of yourself by beginning to really not blame anybody but yourself for your happiness or lack thereof you actually take a tremendous amount of pressure off of the man that you're with to where you are no longer someone that needs to be fixed someone that needs to be saved someone needs to be pulled out of the trenches of your own happiness and you get to be a partner where the man can interact with you as an equal rather than as a hero and this is an incredibly powerful tool for making a man miss you because no man wants to go from all of the pressures that are in his life to suddenly feeling like he's got all of these obligations and duties to have to fix your emotional world as well so that's step one is take full responsibility of your happiness make it an inside job it is your job to be happy because when you do that you offer him the greatest gift in the relationship and that is your best self. All right the second step to make a man miss you is to trust him and this can not be over emphasized it is one of the most important key ingredients in any healthy relationship where there is desire and longing and two people being able to come back together as well as pull apart and individuate and find themselves and then be able to come back together again it all is operated and works on trust now when you trust a man there is a great gift that you give him when you trust him you are choosing no longer to see him through your own insecurities you are choosing rather to allow him to create himself as the best version of himself in fact you are believing that he is showing up as the best version of himself when he perhaps pulls away if he needs to pull away from the connection a little bit to individuate for him to perhaps find himself and regain his balance and then come back into the relationship there's a certain trust that you give him that you know that he's going to come back that you trust that he's going to come back in connection and that you trust that he's got good intentions there's an innocent until proven guilty mindset here and what happens when you trust him too is you actually give him the opportunity to demonstrate his integrity to demonstrate what he's really made of now to drive home this example let's just pretend for a moment that there's two versions of you one version of you that goes to work and you have a boss that doesn't trust you and another version of you that goes to work and you have a boss that trusts you completely which work environment do you want to stay at for 10 years which one is going to have the most life the one where you feel completely micro managed and your boss is suspicious of you and you feel like you're walking on rice paper and one wrong move is going to send you away and get fired or one where you feel that your best self is seen one where your boss is enabling you to have creative expression and how you want to be at work probably the latter now if you map it to relationships it's a very similar experience you want to be trusted because then that way you get to be your best self he wants to be trusted so that he has an opportunity to grow into who he fully is while in the relationship with you so that step two trust him all right number three to make a man miss you is to bring play presence and sexuality into the relationship and connection and here's why it's so important most men go their entire lives living in a very narrow box of what are acceptable emotions to feel pride anger hunger lust but anything else typically there's sometimes some shame around it I may not be covering all the emotions but if we compare the feminine experience to the masculine experience women have this superpower gift of having so much more emotional flexibility than a man there's so much more comfort and courage to go into all of the emotions and still come out the other end and be okay and not be ashamed about it men on the other hand feel like they're walking on a tightrope and one of the gifts that you give as a woman is that you offer yourself as the emotional gatekeeper to this rich world of experience that he may have disowned ever since he was a kid but there's a part of him that is craving reunion with that I can tell you from personal experience being a man and being in contact with a woman who is self-expressing her emotions is not afraid to bring those to the table is wildly attractive I get to vicariously live and feel through her and she actually gets me to open up and feel things that I may not have felt when I'm single so there is a priceless value in that and when you bring presents what that might look like is helping him slow down and not be so future oriented stopping and smelling the roses playing with him flirting with him wrestling with him joking around with him getting him out of this serious mode of goal oriented focus that he might be typically in and lastly sexuality helping him get out of his head and into his body and feeling other parts of his body in the present moment very different experience than if he is this hyper masculine guy who's just focused on making money and achieving goals at work this is the power that you bring to the table as an emotionally expressed woman and I want to invite you to step more and more into that with him to make him miss you and step four is allow yourself to be impacted by your man now I'm a firm believer that everybody wants to feel significant everybody wants to feel like they're making an impact on somebody or something in this life and if you can communicate that you are being impacted by him you offer him a reflection of the ways in which he makes a difference in this world the ways in which his focus his clarity his direction his empathy his heart his loving tenderness these are things that you can acknowledge and when you acknowledge them you actually bring them to life even more you offer a reflection to him one in which he might not get from anybody else in his life see what you might forget sometimes is that if this man is intimately connected with you you occupy a very privileged space in his life and he occupies a very privileged space in your life both of you have the power with your words to hurt each other very much so and on the same token you guys also have the power to truly heal each other and bring out the best most ascended levels of each other in the relationship to where the relationship becomes this growth machine where the two of you are just moving forward side by side in life and that happens through you allowing yourself to be impacted and influenced by him in fact John Gottman in one of his famous books I think it's the seven principles of what make marriage work says that the number one factor of couples that say together is that they actually allow themselves to be influenced by the other person so there's research to back this up so that step four allow yourself to be impacted and lastly step five challenge him and how do you challenge him do you challenge him by playing hard to get do you challenge him by playing games and perhaps shutting down and pulling away and doing all this stuff that you don't really want to do no you don't challenge him that way you challenge him by challenging yourself by continually challenging yourself in the relationship so what that means is you dedicate yourself to growing you dedicate yourself to becoming the best version of yourself and being on the path to that and realizing there is no destination that it is just a continual unfolding of you gaining greater self-awareness greater presence greater knowledge of yourself greater emotional mastery because what that does is it makes you a high quality woman because ultimately what you're doing is you're carving out a really beautiful and empowering perspective on yourself and on life and that is really what he's in relationship with he's not in relationship with your body he's not in relationship with the things that you have he's in relationship with the way that you see the world and the way that you see yourself so the more beauty and the more goals and aspirations and things that you want to create and give birth to in this life that are in line with your values that are the things that make you happy the boundaries that you choose to live by the discipline that you put into your life so you can achieve these things and grow in a certain direction all of this becomes something that inspires him to step up and up level his game as well and so when he looks at you and he sees a woman who is on her path what he thinks is wow i'm really lucky this woman's a catch and when he's not around you of course he's thinking about you and he definitely messes you so those are the five steps to make any guy miss you i hope you enjoyed the video for more content on how to become a high quality woman and more deeper principles on dating and relationships i want to encourage you to click on the link over to the side here and subscribe to my channel it's Clayton Olson Coaching where we talk about relationship dynamics we talk about dating dynamics we talk about all of these deeper principles that have you show up with your best self in these situations so you can create the love that you want thanks for watching


I owe the vast majority of what has happened to me in the last six weeks give or take to TikTok. Now, TikTok gets a really bad rap and I wanted to make a video to explore why that is and to also maybe speculate a little bit as to whether or not that bad rap is deserved or not. As many of you may know, the first video of mine to really kind of go viral was the Cardi B Swisher Sweets Uggs video. Well that actually only happened because when I posted it on TikTok, somebody that followed me on TikTok shared that video to Twitter, tagged Cardi B, and then Cardi B retweeted it. I feel like there is a potential that I could owe my entire career to a retweet from Cardi B. Things that I could never have even remotely predicted. So make no mistake, I do owe pretty much everything so far to TikTok because that's where any of my videos first started to gain some traction and actually still, that's where I have the largest following. But I find that when I scroll through the TikTok curated homepage, I'm a little baffled as to what the hell it is. I see a ton of trends that don't make any sense at all and I can totally forgive the fact that maybe the user base is a lot younger than most other platforms which might lead to some of the trends that are popular, but what blows my mind is what some of the creators on the platform will do to capitalize on those trends. And that's where I see content where I'm just like, I just, I don't want to look, I don't want to look, it hurts, it hurts, it hurts my soul. I can't do it. Let's just take a look at some of this stuff that I'm talking about. Wait, wait, wait, wait. I would love to see this happen in real life. I'm so, I'm so confused. That was so violent. I love how she looks so proud of herself afterwards, like, I showed him. You just watch it and you feel embarrassed. I'm about to eat ice cream for the first time. No, you're not. I've never had ice cream before, so. Yes, you have. How are you? How are you? You said you didn't eat ice cream before, bro. Not that you've never eaten food before. I'm about to eat chips for the first time. I've never eaten chips before, so I can't get them. Maybe this video is parody in and of itself. If it is, then I don't know. I guess it's kind of funny, but self-aware parody doesn't seem to be too much of a trend on TikTok. Okay, this next trend baffles me.  It makes no sense. Why does she tap him on the shoulder like once?  But apparently in this one, getting tapped on the shoulder is pretty much life-ending. It just hurts. It just hurts. It hurts. I love when you have these like middle-aged adults that are just, my wife and her friend won't stop running their mouths, so I need more alcohol. But this bottle's empty. I know. I'll switch the glasses in front of everybody that is basically looking at me and nobody will notice. I love how he turns back and looks when she's like barely even moved away, but he can't believe something happened to his wine. Maybe all of you kids who are using TikTok know because I desperately want more alcohol. Tell me, kids, do you know where my alcohol went? This seems like a wise thing to post.  I don't even know what else to say. But the thing that bothers me about this trend is how many people are doing it with almost zero effort to change anything about the premise. Here's the definition of originality when it comes to this trend. Let me change the time that they're required to respond in. And then let me change the consequences of them not fulfilling their end of an agreement that they never agreed to. Now I can post the same trendy video, but it's totally my idea. This is the only one that's remotely passable because if this dude is an orthodontist who's trying to advertise on TikTok, then I applaud him for making videos on TikTok because I think it's the right demo for him. But it just doesn't make me cringe any less. These videos are all the same. I don't want to get too much into the creators of these videos because my goal is to be like, look how shitty of a creator this person is. A lot of these people are kids like in high school that are trying to explore making content online and I think that's a great thing to try out. The thing that blows my mind more is how popular these videos are. I didn't cherry pick random ultra obscure content that nobody paid any attention to because everyone thought it sucked. No, I pulled stuff that was like some of the most popular on like the curated for you page. This stuff all has like hundreds of thousands of likes, thousands of shares. This is like really popular content. I'm just at a loss for why. Oh, it just hurts. It just hurts. It hurts. It hurts to watch. It hurts. It hurts. I'm in pain. Everybody in this video was part of the gap. Is it supposed to seem like it wasn't? I don't know. I don't understand. Look at every one of their faces right before he reaches over and goes bang and like to think that if he actually did that to real people who are not in on the joke that that would be their reaction. I just broke your hand on the escalator.  What are you doing? That's crazy. Why'd you do that? That's so spontaneous. He's like, he's like violent. He's like, give me that hand and she's just like no reaction. Just turn. Oh, what was that? I'm just missing a finger now. I don't know what that was, but none of it compares to sponsored ads. TikTok is then a very similar thing to Instagram where companies can buy a sponsored post and it's supposed to be integrated and just look like a native post. And they do a good job of that. I mean, it looks pretty much the same. The only difference is it has a little button where you can either download something or learn more or whatever. But these videos. So I really want to take her out tonight, but I don't get paid until next Friday. So I'm going to use the earning app to cash out $100 instantly. Now I can take my girlfriend on a date. Girlfriend. Get paid today. They hurt worse than the rest. They're trying to create things that make sense contextually and that are native and you got to applaud them for that because they're trying. But the problem is somewhere there's a lapse in communication.  Who thought that was a good idea? Girlfriend. It's like she doesn't even know who he is. She just happens to be standing right there. But this, this last one, this, this is kind of what makes it all make a little bit of sense. It's the demographic. It's, it's just so much younger than all the other platforms that most of us use typically. And I think one of the reasons that TikTok gets such a bad rap is because of this. A lot of the content is sometimes created by, but more often aimed at that demographic that's just super young. I mean, look at the comments in this video. 2008 squad? Are you kidding me? This is one of the first times in my life that I've been like, I feel old and it's a legitimate comment and not made ironically. 2006, 2007, like, yikes. So that kind of explains it. I mean, it makes sense that this content is aimed so young and that a lot of people who maybe don't fall into that demographic are watching this stuff going, why, why? But as ridiculous as some of this content is, there's actually a lot of content on TikTok that's really great and that maybe a lot of people say kind of resonates sort of the same type of style as Vine did. You can find compilations of those videos all over YouTube of just like the best TikToks that are very similar to what Vine used to be. Now, I think we all know, I mean, it adds a lot of other things that Vine never had. But in a large sense, TikTok is filling that sort of role as a short form, easily editable video platform. Is it garbage like so many people say it is? I don't think so. I think it has a long way to go. I think it's just really young in a lot of ways in the app itself and then in the audience of that app. So I think just in all aspects, as ridiculous as some of the content is on it right now, it's a young platform and it needs a lot, it needs development. And I think the more people, especially the more creators that are already on other platforms, jump on and try to use it for some creative things. Like it's just going to be a good thing in the long term. Like I said, I mean, I owe a lot, I owe a lot to TikTok. And speaking to the TikTok team directly, they are definitely aware of what their platform is, what their demographics are and where they'd like to be in the long term. And they're just working towards it little by little. I think we're going to see good things ultimately. But in the meantime, there's no shortage of content that just makes you want to become very small and disappear. If you want to follow me on TikTok, I encourage you to do that. There's a link in the description down below as well as to all my other social platforms. Thanks for checking out this video and we will be back to our regularly scheduled meme content shortly.


The arrangement for the experiment looked something like this. There was a gold foil, there was a source of alpha particles, and there was a zinc sulfide scintillator telescope. When an alpha particle hits the zinc sulfide screen, it lets out a little burst of light, and they could see the burst of light using a telescope. It was also possible to move the zinc sulfide telescope through a range of angles. The experiment was extremely time consuming. Geiger and Marsden had to get their eyes adjusted to the dark and then would sit in the dark for hours at a time, counting the little burst of light as the alpha particles bounced off the gold foil and into the scintillator. At the time of the experiment, scientists knew that atoms were normally neutral, and the common picture for what an atom looked like was something like this. This was known as the plum pudding model. There was a sea of positive charge and an equal amount of negative charge in the form of electrons occupying the volume of the atom. Remember that Rutherford had already identified that alpha particles were positively charged helium atoms. Because the plum pudding model has a distribution of charge, if an alpha particle was to come close, it would go on a straight line and would not be deflected very much at all. This meant it was a very big surprise when it was discovered that sometimes the alpha particles bounced straight backwards. When they observed that the alpha particles could bounce backward, Rutherford was amazed. He later gave a lecture at Cambridge University and he said the following. It was quite the most incredible event that has ever happened to me in my life. It was almost as incredible as if you fired a 15-inch shell at a piece of tissue paper and it came back and hit you. On consideration, I realised that this scattering backward must be the result of a single collision. And when I made calculations, I saw that it was impossible to get anything of that order of magnitude unless you took a system in which the greater part of the mass of the atom was concentrated in a minute nucleus. It was then that I had the idea of an atom with a minute massive centre carrying a charge. If all the positive charge is in a tiny nucleus at the centre of the atom, we know the atom is neutral so the negative charge must be situated further away and we now know that the electrons move in orbits around the nucleus. During the 1920s, Rutherford and other scientists began to use alpha particles to convert one element into another, the first nuclear reactions. In many of these reactions, they observed hydrogen being emitted and they soon realised that a hydrogen nucleus is another fundamental particle that they called the proton. They then observed that some elements can have nuclei with different masses and this eventually led to the discovery of the neutron by Chadwick in 1932. By this stage, all the ingredients for our understanding of the atom were now known. The nucleus at the centre of the atom contains protons and neutrons and orbiting the nucleus are electrons. In a neutral atom, the number of protons is the number of electrons. As an example, here is a schematic drawing of lithium. Lithium has three protons and usually has four neutrons and these three protons and four neutrons sit in the middle in the nucleus and surrounding it are three electrons moving in orbits. The next step we need to undertake is to try and understand how and why the protons and neutrons stay together and combine to make this tiny nucleus at the middle of an atom. See you in the next lecture.