that is druckenmiller's point. we are going -- we'll let him talk about it tomorrow i think of crowding out is when the government doesn't have any money to do anything we'll talk to him tomorrow the government only exists with private sector generated tax revenue. that is the government you really, if you crowd out the private sector, a lot of what we are hoping to accomplish across the board, the private sector gets crowded out from taxes going up we don't do innovation we end up stuck like japan in a malaise. >> the yield curve control from japan. we'll have a druckenmiller on tomorrow >>> more to come apple hosting a rare nighttime launch we will have the refreshed mac lineup we'll talk about that coming up. >>> former dallas fed president richard fisher will be here to discuss the fed conference moow u e watching "squawk box" on cnbc >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. new nature's bounty hair growth. clinically shown to help grow thicker, fuller hair with just one

i will be on the same stage as steve cohen and stan druckenmiller.o be there and, yeah, i think i have some interesting things to say when it's my turn to talk. >> we had tudor jones on yesterday, and he said the same thing about the speaker's list and all for a very good cause. maybe you can talk whether the universe of ideas is getting larger or smaller. >> i've been an activist small seller for 13 years. we find reasons to complain about the universe of ideas or the market. bad behavior, it's not going away. valuations have compressed but there's still so much frost out there and particularly we look at things globally and will do things in europe and asia. there are still a lot of companies using misleading accounting, a number of stock promotions that occur and there's always some hype cycle. we've seen a few shorts in our world already, the fake ai space. really i'm bullish on our business model anytime post the frauds imploding in 2012 and 2013. >> you revealed one of your shorts with us and it was on the esg front. i know you've been going af

so druckenmiller is worried but other investors are more optimistic? annabelle: that's right. interview with the skybridge founder anthony scaramucci. he said his fund has had the best month of returns ever in october and he says key investments around bitcoin, emerging technologies, digital tokens actually have seen a big bounce. that is what he is optimistic. skybridge has taken a reputational hit because of its alliance with the former crypto exchange ftx and sam bankman-fried. here is what he said as the trial is underway. >> he has absolutely no defense or plausibility to a defense, other than the fact that he, along with his coworkers, perpetrated fraud. the issue right now is, when does this and? when is his sentencing? annabelle: the jury in the trial of sam bankman-fried, set to hear closing arguments wednesday after the defendant endured off final cross-examination from prosecutors -- a final cross-examination from prosecutors. another grilling and invasive responses. su: sam bankman-fried struggled to handle questions from the prosecutor who went after the issue, wh

. >>> stanley druckenmiller taking a shot ot yellen, arguing yellen failed to take advantage of the ultraest rates era he said, quote, i guess because political myopia or whatever, issuing two-years at 50 basis points when she could have listed 30 at 180 goes on to say it's the biggest blunder in the history of the treasury i have no idea why she hasn't been called on this. she has no right to still be in that job as steve liesman pointed out this morning, it would be weird to go long duration at a time when the fed is still doing qe. >> there's been good people, not this treasury but previously said it on air -- >> you wanted them to issue a 50. >> well, go out as far as possible i said it to tim geithner who is a terrific guy he explained it's much more expensive to do the long end than the short the short is the cheapest. i said that's a very shortsighted view. secretary mnuchin said the same thing. they have to call everybody out. they've been doing this -- the long has been really fabulous to do it. we've said it on air steve liesman said that would be an odd thing to do it doesn't m

we have hall of fame investors, paul tudor jones, stan druckenmiller, ken jones, all of the greatestfor anybody that cares about the investment markets, this concert is a taylor swift ticket. and then the other thing, the thing that makes it really exciting is anybody that buys a ticket and attends, it's a great thing. but at the same time every single dollar is going to go out on the street to those organizations that are helping the people most in need. so it's a great thing and it's a great event, and people should check it out because they'll love it. >> you've been a longtime supporter of robinhood. check it out on robinhood.org. >>> when we come back, we've got top stocks on the move in the premarket this morning. we've also got some takeaways for another big warning from the big banks. 'lte you all about it when we come right back right here on "squawk box." power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*

what happened, and druckenmiller said it was the thing that convinced him to buy it, he said none of long term right now. there's no supply for it either. >> it's highly liquid. 76% hasn't been sold in the last year, 56% in two years. what we saw, what drove bitcoin's price from that $3,000 in about three years is there's a supply and demand shock. printing of money, low interest rates. we look like we're headed back to that. right now we do have high interest rates and they're trying not to print money. they're trying to fund two proxy wars. we have a southern borpder issue, all sorts of inflation they're trying to combat. what's likely to happen is they're going to have to return to loose monetary policy. when they do that, it is likely to coincide with bitcoin. >> near term, talk about the etf. nothing has hammed in the last three weeks to indicate it's any closer. >> i definitely think it's closer. >> three weeks went by. >> but also blackrock is now going and seeding the fund. >> seeding the fund in october, which is new. >> correct. so, they just fomented the application. what