the french start to build fort duquesne. word comes to the british this is happening. it raises this big concern that the french are trying to push out any british opportunities and the ohio valley. and they would use this, by the raids.aunch frontier during king george's war, there had been dozens and dozens of french and native raids on frontier settlements that had been devastating. we talked earlier about the war of the spanish succession, how the villages were left sort of devastated on the french and british side. this happened again in the 1740's. not long after that they see the french moving in, attacking a native town, setting up a fort, and they fear that it will be a launching spot for a lot of those raids, and they start to demand the british colonies take interest and hopefully try to stop it. in 1754, there is a young military officer who was commissioned to go up and check things out. his job is really just a reconnaissance mission. he is supposed to go up, find out what is happening with the french. he does take a small group of soldiers with him. he j

duquesne and russia continue to blame each other. alameda county sheriff the had shots and killed the suspect more details coming out. 298 people - presumed dead after a malaysian airliner crashes and disintegrates in eastern ukraine. u-s intelligence says -- someone shot the plane down. suspicion is being cast on pro- russian separatists. ukraine blames russia -- saying it gave them a missile system capable of hitting planes. and the disaster threatens to cause an even deeper breach between the u=s and russia. investigators have now started the work of figuring out exactly what happened. polo sandoval has the latest. malaysia airlines flight 17 took off from amsterdam shortly after noon local time, but it never reached its final destination of kuala lumpur. the plane was shot down over eastern ukraine -- a volatile area where ukrainian forces have been battling pro-russian separatists. all 298 people on board were killed. "the flight's passengers and crew came from many different countries. but today, regardless of nationality, we a

druckenmiller of duquesne capital onstage nome with his best idea but big comments as well about where he thinks the federal reserve is at the given time. also whether there's bubbles in the market. we'll talk about all that, because the markets are in focus as they always are. the dow industrials and the transports earlier today hitting all-time highs. nasdaq 100 at a 14-year high. also all over the deal news of the day. the talker of the day. no doubt. our own andrew ross sorkin breaking the story. time warner rejecting an $80 billion offer from 21st century fox. we'll have him later with the latest on that developing and very interesting story. and, yes, even monitoring janet yellen's testimony on capitol hill, day two there. we're going to bring you all of the headlines as they develop. i do have the traders with me today. jon najarian, stephanie link to break it down. begin with the comment from mr. druckenmiller with joe kernen a short time ago. josh brown, the fed needs to move rapidly towards a rate dangerously behind the curve, policy fraught with risk, excesses in the ipo and

we at duquesne were mystified back at that time why the funds rate was 1% with a considerable periodd to it given the vigorous economic growth statistics available at the time. i recall walking in one day and showing my partners a bunch of charts about economics -- economics statistics of that day and asking them to take the following quiz -- suppose you had been on mars the last five years, and had just come back to planet earth. i showed them five charts, and i said, if you had to guess where would you guess the federal funds rate was? without exception, everyone guessed way north of 1%, as opposed to the policy at the time, which was a verbal guarantee they would stay at 1% for considerable period of time. so we were confident the fed was making a mistake. but we were much less confident how it would manifest itself. however, our assessment by mid-2005 that the fed was feeling an unsustainable housing bubble with dire repercussions for the greater economy allowed our investors to profit handsomely as the financial crisis unfolded. maybe we got lucky, but the leadership of the fede

opted out, exhausted by the draw down, but never had a losing year, not running public money at duquesne. >> he was soros, really, when soros was great. join us tomorrow, "squawk on the street" is next. ♪ i'm on top of the world eye i'm on top of the world♪ >> on top of the world, right. congratulations to germany on its world cup victory. angela merkel in rio. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. what a week, first full week of earning, 55 s&p companies on the deck, yellen on the hill. boatload of news. ten-year yields around 2.53. housing starts, industrial production, and more this week. and as for your mostly in the green and, yes, that includes dax, for anyone in germany at work today after last night's win. the road map goes like this, earnings beat for citi top and bottom line. stock's up sharply as the bank announces its settlement with the government, $7 billion for, quote, egregious mismanagement. >> far from the only deal news, we'll have more on mylan, for example, in a moment. >> markets in the g

now, at delivering alpha today, duquesne capital founder stan druckenmiller using his time to rip theies, saying the current policy is risky and reminds him of past mistakes. >> the leadership of the federal reserve did not foresee the coming consequences as late as mid-2007 as, surprisingly, many fed officials still do not acknowledge any connection between loose monetary policy and subsequent events. that is why i am personally experiencing a sense of deja vu. >> we have reaction now from mesirow financial chief economist diane swonk and our own senior economics reporter, steve liesman. folks, i have to say, stan druckenmiller has long been a critic of this federal reserve policy, and i gather, steve, it's the criticism of a money manager who's been frustrated trying to make money in a distorted financial market environment, right? >> i don't know. i mean, i think that stan has his opinion. he gives this interesting test, right? which is, if i was on mars for five years, came back, he gave you the economic numbers and you would say, wow, there's no way the fed should be at zero. whe

opted out, exhausted by the draw down, but never had a losing year, not running public money at duquesne tomorrow, "squawk on the street" is next. ♪ i'm on top of the world eye i'm on top of the world♪ >> on top of the world, right. congratulations to germany on its world cup victory. angela merkel in rio. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. what a week, first full week of earning, 55 s&p companies on the deck, yellen on the hill. boatload of news. ten-year yields around 2.53. housing starts, industrial production, and more this week. and as for your mostly in the green and, yes, that includes