good evening on a busy news day around the world, thousands of police on the streets of london and other uk cities are getting the upper hand on the fourth night of the scene. wild gyrations ending with the dow up, that s right. up nearly 4%. what it means for your money is legal ger, personal finance expert juan ulreich. a crazy day in the market. heading for another day of the dow falling. the rally in the end end up 400 points plus up. what do you make of it all? the fans shl markets were trying to figure out what the fed said. to distill it down, the financial markets figured out that ben bernanke with a bit of resistance was going to stand by the statement that the g-7 said and that was to do anything it could to shore up the economy and provide liquidity on the face of what happened in the last weeks. the economy is weaker than what they thought it was. the debt ceiling crisis dealt a blow. and the downgrade to the s&p. all of that with the u.s. economy almost stall
started to hear the white house in the kennedy years. dan rather. ever seen washington or wall street like this? and anarchy in the uk, what s behind the days and nights of rage in london and other uk cities. where will it end? this is piers morgan tonight. good evening on a busy news day around the world, thousands of police on the streets of london and other uk cities are getting the upper hand on the fourth night of the scene. wild gyrations ending with the dow up, that s right. up nearly 4%. what it means for your money is legal ger, personal finance expert juan ulreich. a crazy day in the market. heading for another day of the dow falling. the rally in the end end up 400 points plus up. what do you make of it all? the fans shl markets were trying to figure out what the fed said. to distill it down, the financial markets figured out that ben bernanke with a bit of resistance was going to stand by the statement that the g-7 said and that was to do anything it could to
buying, selling. trying to run 12 people, a $15 trillion economy by the hour, by the week, by the monthly meeting. you can t do it. i would say that we re at the point where this is so broken, where the fed has destroyed so completely the capital markets. interest rates don t mean anything. they re simply manipulated numbers by the fed, that we ought to say, let s get rid of the open market committee. put those 12 people in retirement. let the fed run a discount window for emergency liquidity, if it s needed. let people, banks, pay a penalty rate if they get in trouble, because they ve borrowed short and loaned long, but get out of the daily business of trying to micromanage, massage, and manipulate this market. would you advocate a floating interest rate as an alternative? a market rate of some kind? yeah. there s something called mobilize the discount rate. you would like this. it was something known 40 or 50 years ago and it s been lost. put the discount rate a couple