>> there you go. we're taking in bells as they ring this monday on wall street. here is look where major averages are ending the day. [closing bell ringing]. once as you see on the screen. not a day on market we expected to have here. the dow losing 54 points. remember futures at one point were down over 200 overnight after the referendum. not what we're closing. s&p, nasdaq oil, god, david, look at that, oil losing more than 7%. that is china story. that has nothing to really do with greece. david: whole worldwide story. we'll pick it apart coming up with phil flynn. he knows all about it. while markets wait for tomorrow, here is everything you need to know right now. president obama getting a rare briefing at the pentagon about the military efforts to battle isis. he is expected to deliver remarks any moment on where we stand with regard to isis. we will bring you the president's statement live as soon as it happens. in the meantime joined by rob o'neill, former member of navy seal team six, key plemmer about

of the mission that took out usama bin laden and fox news contributor. rob, thank you very much for coming. pleasure to have you here. >> thanks for having me, taking out bin laden as you well know took years of preparation and planning. i'm suspecting because isis seems far more in control than al qaeda ever was it will be even tougher to take on isis? >> it is tougher now because, seems like isis is more willing, more populist, they will take anyone they can. they have a better social media platform going. they're recruiting people from everywhere, from north america to europe. we now really don't have the will to go back into iraq. they're aware of this with the vacuum we left by leaving too early. they're organized. they're run by a lot of former baathists, some of saddam hussein's guys. it will be tough. if we are gettinger is ruse about them we need to get serious soon because they're growing every day. david: rob, the president spoke about this a couple months ago, he said the military didn't have

a plan to take out isis even though he pledged to destroy isis. a lot of people in the pentagon were upset. that is one of the reasons he is at the pentagon to present a plan. is it possible to have a finalized plan how to destroy isis? >> this is definitely a good way to start it off. get the president with the pentagon and get congress involved ba we're going to do. they did admit they didn't have a plan. some frustrations from some of my friends still serving the frustration is there isn't a plan. they don't really know what they're doing. i'm hoping we get good news and get their heads together to come up with something to let isis know we're serious. david: the plan to get osama bin laden started with george w. bush. it took years to execute. president obama benefited from the planning that was done before him by previous administrations. so in a sense he kind of helped out gw bush helped out obama actually get bin laden. as you guys that pulled the trigger but i'm wondering if the next president will have it easier or more difficult to deal

with isis on the basis of what president obama has done? >> i mean i'm hoping that president obama is serious about this. they're talking about everything from affordable health care, what we'll do with immigration, whether he likes it or not this will be his legacy. i hope he gets serious about isis. i'm confident with everyone from the intelligence community to the department of defense they're ready to go. l always ready to go. we just need everyone on board. david: rob, clear you know exactly what you're talking about. we'll keep you if you don't mind, to talk after the president delivers his remarks. >> that's fine. david: once the president goes to the podium, we'll carry him live at the pentagon. cheryl. >> a big fat greek no. no bailout for greece as the country overwhelmingly rejects a rescue package from its creditors and european central bank is not having it. ecb said it will not give anymore cash to greek banks giving concerns that greece could go completely bankrupt. ashley webster still on the

ground this afternoon in athens. he has the latest. good evening, ashley. >> good evening to you, cheryl. tomorrow will prove to be a pivotal day. we said that so often about the greek story but tomorrow i really think it comes down to some tough talk, some tough negotiating. i got to tell you, this evening we saw german chancellor angela merkel having dinner with french president francois hollande in paris. they gave a statement after their meeting about greece. i think it showed the split between the two. the french wanting to be far more cordial towards greece and reforms that it would require. germany being very adamant about that they are not going to negotiate until there is something on the table to negotiate. and i think tomorrow you're going to see greeks asking for some sort of a haircut on their debt, maybe 30%, according to some reports. i think germany is just not going to go for it. the french, the spanish said, we need to look at massive amount of debt greece has to deal with

and find new ways to enable them to climb out from under it. i don't think the germans will go along with it. cheryl, the banks remain closed. they're supposed to open tomorrow. that is not to happen. we're hearing thursday possibly. the ecb waiting to see what happens tomorrow before deciding their next step with regard to financial lifeline to the financial industry here in greece. it is certainly getting tough. there are shortages of food and medicine. we're really in situation where greece either gives in to the e.u. and agree to everything being asked or they will be shown the exit and that could be real painful for the greek people if they do fall out of the eurozone and go back to the drachma. >> ashley, we're seeing headlines that angela merkel and vladmir putin had a discussion today about the effects of this greece situation. if those two are talking what does that tell you? ashley, thank you very much. great reporting of course out of athens begin today. >> sure. >> from ashley webster. to the greek fallout at home the

white house supporting a deal to keep greece in the eurozone. fox business's blake burman in d.c. he has more details on the big story today. blake? >> hi, cheryl, good afternoon to you. the white house press secretary said this afternoon that the obama administration position has not changed today even after yesterday's no vote in greece. in fact josh earnest said the obama administration's position has inchanged dating you will the way back to 2010 and 2011, despite yesterday's no vote, they say, they would still like to see a reform package that keeps greece in the eurozone. take a listen here. >> we've made clear that we continue to believe it is in the u.s. interests and global interests for these differences to be resolved. but ultimately it will be responsibility of the europeans to resolve them. >> so they maintain this needs to be solved by europe and greece's creditors. now earnest was also asked whether or not the u.s. has been

essentially a bystander in this whole process. he did not push back against that. that might be because he said there was also, and i'm quoting here, very little directic to the -- direct risk to the u.s. system. i asked him americans with 401(k)s should be concerned about what is going on greece, he said the spillover has been limited. back to you. >> blake burman, thank you. david: major averages did end well off session lows but oil, not so. the biggest loser so far, plummeting 7%. this is the biggest drop since february. phil flynn, price futures group and fox news contributor joins us. phil, there are inventory situations. there is greece and there's china. i'm wondering if oil prices, pricers were not actually pricing in a recession with today's market drop? 7% decline! >> i think you hit the nail on the head. i think that's what oil prices are saying.

a week ago or two weeks ago when oil was at 62 the market was saying hey, we're optimistic. europe is getting better. the economic data is getting better. china is somewhat stablized. maybe demand will exceed expectations and get rid of this oversupply and glut we've had. today, forget about that. what we're seeing is pessimism back in the market. now this glut looks awesomely large when you look what is happening in greece and in china. i think the next big thing for oil is what happens in the chinese stock market over the next 24 hours if it we get a major sell-off there, the demand expectations for oil will totally dry up and obviously the concerns about europe, people fail to remember back before opec got into a price war, back before the opec meeting last november, one of the biggest disappointments in the oil market was the lack of demand growth in europe. they were in a recession. they were really slowing down the global economy. they were putting sanctions on russia.

it was killing oil demand. then of course the qe came and they started to see things get a little better in the eurozone. oil demand exceeded expectations and that really was the thing that gave oil that boost. but now you're talk taking all that away almost immediately. david: quickly, phil, oil in the $40 range soon? >> depends on the events of the next 24 hours but i say there is a shot. david: phil flynn, thank you very much. >> we want to take you back to a live picture of the pentagon, the briefing room right now. at any moment we do expect to see president obama. he has just received a briefing. the briefing is about the strategy. the strategy to deal with isis and it has been 10 months since the united states began airstrikes. i want to bring back in rob o'neill. while we're monitoring, waiting for the president to speak, i want your reaction to what the president likely discussed today in these meetings. that is the fact that we just had a bunch of of bombings in raqqa in eastern syria. this is 16 airstrikes over the weekend.

the timing this happened over the 4th of july weekend in this country we were concerned about isis doing something or getting feets to do something in this country yet we made the first move. how far ahead did they plan for that, do you think, sir? >> i would imagine just because of the threat, they're looking for major holidays to hit the states. i think hitting them in raqqa, their capital of islamic state is kind of a sending a message to them we're serious. good time to do it. i'm excited to hear, i'm very confident what the leaders at the pentagon have come up with planners. >> we're expecting the president. there he is. >> all set? good afternoon, everybody. i hope everyone had a wonderful holiday weekend especially men and women in uniform. this, we were honored to welcome some of our incredible troops and families during fireworks at

the white house. on behalf of the, gratitude for extraordinary service around the world every single day. that includes the work that brings me here today. our mission to degrade and ultimately destroy the terrorist group isil. this is a cause, a coalition that's united countries across the globe. some 60 us nations including arab partners. our comprehensive strategy against isil is harnessing all elements of american power across our government. military intelligence, diplomatic, economic development and perhaps most importantly, the power of our values. last month i ordered additional actions in support of our strategy. i met with my national security team as part of the regular effort to assess our efforts. what is working and what we can do better. secretary carter, chairman dempsey, i want to thank you and

your team for well coming us and your leadership. including general austin who is leading the military campaign. and i want to summarize briefly where we stand. i want to start by repeating what i've said since the beginning. this will not be quick. this is a long term campaign. isil is opportunistic and it is nimble. in many places in iraq and civilian areas it has dug in amongst civilian populations t will take time to root them out. doing so must be the job of local forces on the ground with training and air support from our coalition. as with any military effort there will be periods of progress but there are also going to be some setbacks as we've seen with isil's gains in ramadi in iraq and central and southern syria but today it is also important for to us recognize the progress that's been made.

our coalition has now hit isil with more than 5000 airstrikes. we've taken out thousands of fighting positions, tanks, vehicles, bomb factories, and training camps. we eliminated thousands of fighters including senior isil commanders. over the past year we've seen that when we have an effective partner on the ground isil can be pushed back. in iraq isil lost at the mosul dam. isil lost at mount sinjar. isil has lost repeatedly across kirkuk province. isil lost at tikrit. all together, isil has lost more than a quarter of the populated areas that it had seized in iraq. in syria isil lost at kobani, it recently endured losses across northern syria including key city of talbit. ignore aggravate tall supply rout to its base of operations

in syria. this is reminder of isil's strategic weaknesses are real. isil is surrounded by countries and communities committed to its destruction. it has no air force. our coalition owns the skies. isil's backed by no nation. it relies on fear, sometimes executing its own disillusioned fighters. its unrestrained brutality often alienates those under its rule creating new enemies. in short isil's recent losses in syria and iraq prove isil can and will be defeated. indeed we're intensifying our efforts against isil's base in syria. our airstrikes will continue to target the oil and gas facilities that fund so much of their operations. we're going after the isil leadership and infrastructure in syria. the heart of isil that pumps funds and propaganda to people around the world. partnering with other countries, sharing more information, strengthening laws and border security allows us to work to

stem the flow of foreign fighters syria as well as iraq. and, to stem obviously the flow of those fighters back into our own countries. this continues to be a challenge. working together all nations will need to do more but we're starting to see some progress. we're going to continue to crack down on isil's illicit finance around the world. by the way, if congress really wants to help in this effort, they can confirm mr. adam szubin, our mom nye for treasury secretary to lead this effort. this is vital position to our counterterrorism efforts. nobody suggestions mr. szubin is not qualified. he is highly qualified. unfortunately his nomination has been languishing up on the hill and we need to the senate to confirm him as soon as possible. meanwhile we continue to ramp up our training and support of local forces that are fighting isil on the ground. as i said before this aspect of our strategy was moving too

slowly but the fall of ramadi has galvanized the iraqi government. with the additional steps i ordered last month we're speedings up training of isil forces including volunteers from sunni tribes in anbar province. more sunni volunteers are coming forward. some are already being trained and they can be a new force against isil. we continue to accelerate the delivery of critical equipment including anti-tank weapons to iraqi security forces including the peshmerga and tribal fight is. and i made it clear to my team we will do more to train and equip the moderate opposition in syria. now all this said, our strategy recognizes that no amount of military force will win the terror that is isil. unless it is muched by a broader effort, political and economic, that addresses the underlying conditions that allowed isil to gain traction. they have filled a void and we have to make sure as we push

them out that void is filled. as iraqi cities and towns are liberated from isil we're working with the iraq and united nations to help communities rebuild security services and governance that they need. we continue to force the efforts of prime minister abadi to forge a effective iraqi government that unites all the people in iraq, shia, kurds, all minority communities. in syria the only way that the civil war will end and in a way so that the syrian people can unite against isil is an inclusive political transition to a new government without bashar al-assad. a government that serves all syrians. i discussed this with our gulf cooperation council partners at camp david and during my recent call with president putin. i made it clear the united states will continue to work for such a transition. and a glimmer of good news i think an increasing recognition on the part of all the players

in the region that given the extraordinary threat that isil poses, it is important for us to work together as opposed to at cross-purposes to make sure that an inclusive syrian government exists. while the focus of our discussion today was on iraq and syria, and isil ideology also pose as grave threat beyond the region. in recent weeks we've seen deadly attacks in tunisia, kuwait and egypt's sinai peninsula. we see a growing isil presence in libya and attempts to establish footholds across north africa, the middle east, the caucuses and southeast asia. we've seen attacks in ottawa, cydey -- cydey, france and copenhagen. i call on the international community to fight to fight this extremism. the united states continues to lied. when attacks against our nation

we'll take direction against terrorists. we'll continue to partner with nations from afghanistan and nigeria to build up their security forces. we'll work day and night with allies and partners to disrupt terror networks and to smother nascent isil cells that might be trying to develop in other parts of the world. this also includes remaining vigilant in protecting against attacks here in the homeland. now, i think it is important for us to recognize the threat of vie limit extreme system not restricted to any one community. here in the united states we've seen all kinds of homegrown terrorism and tragically recent history remind us how even a single individual motivated by a hateful ideology with access to dangerous weapons can inflict tremendous harm on americans. so, our efforts to counter violent extreme must not target any one community because of their faith or background,

including patriotic muslim americans that are partners keeping our country safe. that said we also have to being knowledge that isil has been particularly effective reaching out to and recruiting vulnerable people around the world including here in the united states and they are targeting muslim communities around the world. numerous individuals have been arrested across the country for plotting attacks or attempting to join isil in syria and iraq. two men apparently inspired by isil opened fire in garland, texas. and because of our success improving our homeland security we've made it harder for terrorists to carry out large-scale attacks like 9/11 here at home but the threat of lone wolves or small cells of terrorist is complex. it is harder to detect and harder to prevent. one of the most difficult challenges that we face and preventing these kinds of attacks on american soil is going to require sustained effort. so i just want to repeat. the good news is, because of

extraordinary efforts from law enforcement as well as our military intelligence we are doing a better job at preventing any large-scale attacks on the homeland. on the other hand these small individual, lone wolf attacks or small cells have become harder to detect and they become more sophisticated using new technologies. that means we'll have to pick up our game to prevent these attacks. it's also true why ultimately in order for to us defeat terrorist groups like isil and al qaeda, it is going to also require us to discredit their ideology, the twisted thinking that draws vulnerable thinking into their ranks. that said before i know before and i know our military leaders agree, this challenge of countering violent extreme system not simply a military effort. ideologies are not defeated with guns. they're defeated by better ideas, more attractive and more compelling vision.

so the united states will continue to do our part by working with partners to counter isil's hateful propaganda, especially online. we'll constantly reaffirm through words and deeds we will never be at war with islam. we're fighting terrorist who is distort islam and whose victims are mostly muslims but around the world we're also going to insist partnering with muslim communities as they seek continuing prosperity and dignity they deserve and we're going to expect those communities to step up in terms of pushing back as hard as they can in conjunction with other people of goodwill against these hateful ideologies in order to discredit them more effectively particularly when it comes to what we're teaching young people. this larger battle for hearts and minds will be a generational struggle. ultimately not going to be won or lost by the united states alone. it will be decided by the countries and the communities that terrorists like isil

target. it will be up to muslim communities including scholars and clerics to keep rejecting warped interpretations of islam and protect their sons and daughters from recruitment. it will be up to all people, leaders and citizens to reject sectarianism that so often fuels resentments and conflicts upon which terrorists are thriving. it will be up to governments to address the political and economic grievances that terrorists exploit. nations that empower citizens to decide their own destiny, that uphold human rights for all their people, that invest in education and create opportunities for their young people, those can be powerful antidotes to extremist ideologies. those are the countries that will find true partner in the united states. in closing, let me note that this 4th of july we celebrated 2389 years of american independence -- 239 years. across two centuries we face much bigger, much more

formidable challenges that an this. civil war, great depression, facism, communism, terrible natural disasters, 9/11. and every time, every generation our nation has risen to the moment. we don't simply endure. we emerge stronger than before and that will be the case here. our mission to destroy isil and to keep our country safe will be difficult. it will take time. there will be setbacks as well as progress. but as president and commander-in-chief i want to say to all the men and women in uniform serving in this operation, our pilots, crews on the ground, our personnel, not only on the ground but at sea, our intelligence teams and our diplomatic teams, i want to thank you. we're proud of you. you have my total confidence that you're growing to succeed. to the american people, i want to say we will continue to be vigilant. we will persevere and just as we

have more than two centuries we will ultimately prevail. thank you very much, everybody. and thanks to the team up on the stage here with me. they're doing an outstanding job you know what, i will take a question, go ahead. >> you said every servicemen -- >> taking a question. >> are you going to veto the defense bill that will pay me? what is your latest thinking on that? we heard secondhand through statements of policy that your advisors would threaten a veto. would you take, sir? would you veto the appropriations? >> our men and women will get paid. if you will note that i have now been president for six 1/2 years and we have had some wrangling with congress in the past. our servicemembers haven'ted missed a paycheck. but what is also important in terms of our budget is making sure that we are not short short-changing all the elements

of american power to secure the nation and project our power around the world. so what we're not going to do is to accept a budget that shortchangeses our long-term requirements for new technologies, for readiness. we're not going to eat our seed corn by devoting too much money on things we don't need now and robbing ourselves of the capacity to make sure that we're prepared for future threats. i have worked very closely with the chairman and, the members of the joint chiefs of staff to develop a budget that is realistic and that looks out into the future and says this is how we're going to handle any possible contingency. and we can't do that if we've got a budget that shortchanges vital operations. continues to fund things that are not necessary. we remind ourself reason we have best military in the world,

first and foremost because we have the best troops in history. also because we've got a strong economy. we've got well-educated population. and we've got incredible research operation and universities that allow to us create new products that then can be translated into our military superiority around the world. we shortchange those, we're going to be less secure. so, the way we have to look at this budget is to recognize that, a, we can't think short term. we have got to think long term. and b, part of our national security to make sure we continue to have a strong economy and continue to make the invests we need this things like education and research that are going to be vital for us to be successful long term. >> -- plans to send more american troops overseas right now? any additional forces? >> there are no current plans to

do so. that is not something we currently discussed. i always said i will do what is necessary to protect the homeland. one of the principles that we all agree on though, and you know, i pressed folks pretty hard because in these conversations with my military advisors i want to make sure i'm getting blunt and unadulterred unsensorred advice. in everyone of the conversations we had the strong consensus is in order for us to succeed long term in this fight against isil we have to develop local security forces that can sustain progress. it is not enough for us to simply sinned in american troops to temporary set back organizations like isil but, to then, as soon as we leave v.

see the void filled by isis. we'll need to see local forces and security forces with our partners that can not only succeed against isil but then sustain in terms of security and in terms of governance because, if we try to do everything ourselves, all across the middle east, all across the north africa, we'll be playing whac-a-mole and there will be a whole lot of unintended consequences that ultimately make us less secure. all right? thank you. >> walk away from the deal? >> i didn't even plan to do this. you guys got two bonus questions. >> we did. president obama again getting briefing at pentagon. it was supposed to be a short statement. the statement led to a couple questions. once again reiterated no boots on the ground as of now in the war fence isis. but the president using the word partners over and over to talk

about the strategy now. i guess we know this is the final strategy that is to secure partnerships in the region, david, to secure isil. nothing really new. david: partners, emphasis on training with partners. we want to bring back in rob o'neill. former member of navy seal team six, a key member of the mission that took out osama bin laden. also a fox news contributor. rob, did you hear a comprehensive military strategy for defeating isis what the president just said? >> no, david. i basically heard of debrief. here is what we've been doing. here is what we should be doing. not necessarily what we should be doing. we need to be doing this and get our partners in line and a good coalition on the ground. we've been saying that for a while. we trained an army in iraq. costs billions of dollars and they ran a way. not that we should tell everybody what our plans are, there wasn't much substance.

david: what really riles americans, not only did we train these guys, but we gave them billions of dollars in our equipment which in many cases is now being used by isis. >> yeah it is because -- david: we have to send in planes to destroy equipment we originally bought for the iraqis. >> yeah. it is a little bit frustrating. again, when even asked the question when we put boots on the ground the answer is no. there is not anything there as far as a strategy. i mean how will we train these -- do we even have a coalition there? there wasn't really much substance. david: well he did talk about getting, we have a lot of success when we have people on the ground able to target the planes to come in. this is what happened in afghanistan i remember after 9/11. i believe december 2001 when we had seals such as yourself and other special forces guys on the ground in afghanistan. only a handful, a few hundred of them were able to direct the plane traffic in specifically where al qaeda was. is it conceivable that the president was hinting that that

might be something that would be acceptable? >> it didn't seem like he was hinting at it. i wouldn't mind seeing something like that happen. what it was like to fight taliban in the beginning. if we have, like you said some moderates, or peshmerga. or special forces there. when we started bombing in afghanistan rules of engagement weren't as strict as they are now. right now you have pilots before you hit the send button on a bomb they're worried whether or not they will go to jail. david: i remember that happening during gw bush's reign as president when he said the same thing. he had to contact lawyers before a same mission. finally don't you think it is possible without calling for officially boots on the ground you could get in enough special forces guy to turn the air war into something more successful. >> i think it is possible to do that. we need to get serious about what rebels turning them against us.

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>> president obama just moments ago giving a strategy update in america's fight to defeat isis. here's what he had to say.

>> this will not be quick. this is a long-term campaign. isis is opportunistic, and nibble, in places in iraq, including urban areas, it has dug in civilian operations. it will take time to root them out. in doing so must be the job of local forces on the ground with training and air support from our coalition. >> let's bring in our panel to discuss what this means, rob hardy of go strat, judy miller of the manhattan institute, and chris, welcome to all of. is this the first time that the president has truly acknowledged that isis has been successful in recruiting americans? >> yeah. he hasn't really addressed that point, we've almost lost count the number of times that he said he's going to arm the syrian rebellions.

but this is really good at recruiting at home, 185 americans have begin over to syria to fight. that's the first time he's had to acknowledge a perhaps defect in his quote strategy. >> well, he mentioned the -- it was almost a drinking game. it was, like, he mentioned the words partner, partnership, over and over and over. to me it says it's their problem. it is not my problem, it's your problem in the middle east, whether you're a cutter or saudis, what does that mean for the region if we're passing it to them? >> i was happy to hear him how about his phone call to president putin because there's a lot going on behind the scenes there that i think should be addressed. exactly a week ago putin met with the syrian foreign minister in moscow, and he told them they're going to suspend the operations in syria and focus only on destroying the jihads.

and he encouraged syria to establish a dialogue with turkey and jordan and syria. . >> but that's the government. >> correct. >> so you're telling me that putin -- he does want to see them stay in power. the the president just now says he does not -- he wants a new government in power -- >> you can look at the minutes of the news conference afterwards when foreign minister distinctly said they're suspending operations that are not directly pertaining to defeating the jihads, and i believe the phone call that putin had with president obama was to establish a relationship where they could actually form a pilot program in syria to fight the jihadis. this is a big deal going on behind the scenes. >> chris. >> bottom line is this. he's been very consistent that

he wants to remove assad from syria for years. this has been a consistent point. affirmative partnership, look, -- the american people will not tolerate boots on the ground. i heard things i liked, when he wants to get partners involved, and i heard things that i didn't like about maybe putting more american service men on the ground there. i don't like the sound of that, and i don't think the american people will either. >> well, he said boots on the ground, and he said he was not supposed to answer. thank you very much. short on time obviously, but the president's remarks this afternoon, but we do appreciate your time. and certainly we're going to follow this strategy and this story. david, over to you. >> cheryl, the other big story of the day, the troubled country marking another day without a deal. we are live in the ground with what's next for greece in a moment these two oil rigs look the same. can you tell what makes them so different? did you hear that sound? of course you didn't.

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to breathe with copd?ow hard it can be it can feel like this.

copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take, even eye drops. if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain or problems passing urine, stop taking spiriva respimat and call your doctor right away. side effects include sore throat, cough, dry mouth and sinus infection. nothing can reverse copd. spiriva helps me breathe better. to learn about spiriva respimat slow-moving mist, ask your doctor or visit spirivarespimat.com >> so what's next for greece?

here's what we know right now. the european central bank maintaining its hard line sending no more cash to the country, and thus in more new money to the atms. greek banks will be closed and shut down for at least a couple of days according to four banking sources. a new finance swan. swan.(witnesssworn.ecl) in one who maybe more diplomatic, but no less ideaological of his predecessor, and something the ims said today and that's quote we are monitoring the situation and stand ready to assist greece if requested to do so. so with all that, let's bring in today's panel, we don't have much time, capital management, lees also fox news contributor along with rob hardy from geostrat.com. so, john, i look at the imf statement, and i see the possibility of a bailout. do you? >> yeah. eventually that might be the case. but for the time being, it's hard time times for degrees. there's a liquidity crunch,

how do businesses get working capital? >> well, gather, the imf has capital about $200 billion worth thanks to taxpayers. they could big into that capital. we could see another taxpayer bailout of greece because it is us taxpayers who give the imf their money. >> david the old line when you own a little bit of money, it's your own problem, but when you owe a ton of money, it's the lenders money, and that's why there's going to be a bailout. the lenders are going to get killed on this. but for me, the biggest problem is debt and leverage is now front and center, the not only there, but here and everywhere else. and just remember '07 it was ledger that brought down the house and there's a lot out there today. >> and there were also riots in greece not long ago. if the atms run out of money, which is going to happen in a week, what happens then? >> well, so far we have not seen any kind of violence that the rival crowds have not which had adam relevant armed, we've seen no fighting between the groups.

i -- when economies go down, they tend to deinvolve, they don't ride at first. they will use things like gold, precious stones, they will barter. i don't see an out break of violence. >> i don't know, gary, i remember about four years ago when they had the rioting in the greece, they burned down one knowledge, if not one person or more were burned to death, so violence is rare, but it is not -- it has happened before in greece. >> well, look. there is an eventualality to all of this. greece is never, ever going to pay back the debt they owe, and something is going to giving. i can promise you the greek people are going to go nuts because not having money, not having money for substance is going to get them a little riled up, and we're going to see something that what you're talking about. >> but, john, it is a democracy, and we just saw the

results of the democrat, 61% of the greek people vote not to give in on this issue, so they're stuck. >> they are. it's a self inflicted wound, and they're going to suffer accordingly. i'm pretty sure the imf is going to perhaps maintain hard terms if greece wants to come up with the capital, they need to survive. >> i don't know. the former wall street journey editor said relevant said the imf is just a collection agency for the banks. the banks want money, the imf has the money, i think they're going to cry uncle. i think the imf is going to cry uncle. >> oh, there's no doubt. look, everybody is in each other's ears, and when you're owed a ton of money, and it's going to impact you in a negative way, you're going to find any and every way out of the situation. but, again, when you are greece and you're taking in 50 cents and paying out a dollar, it's only -- ends badly. and they could have fixed this up a few years ago, instead they kept lending more and

more. >> gary, rob, john, thank you very much. you did it in record time. we appreciate it. cheryl. >> some quick stories on our radar right now. in honor of the 20th birthday, amazon is promising a sale big than black friday. prime day will be deals for members only, and encouraging nonprime members to sign up so they don't miss out. and the new york post reporting that the weight loss company has attracted attention of at least one activist hedge fund. and hundreds of thousands turning up to pope francis in ecuador, which waited for hours in 90-degree heat and humidity to see his home coming tour of south america. all right. the not so affordable care act, a new warning that you're about to be paying more for heth insurance. >> over. >> plus oreo, oh, no, they didn't. america's classic cookie getting a make over, but as an

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>> and now to the rising cost of obamacare. it turns out those americans covered under the law are more sick than expected. causing health insurance covers to seek massive rate hikes on premiums in order to help meet cost. here to help discuss this fox business gerri willis and fox news legal analyst, luis. where are we? 40% up in premiums. >> prices go up and up and up in obamacare. let me give you an example. blue cross, blue shield, they're asking for increases of 54% in premiums, 36% in tennessee, 31% in okay. i think that you can say on this plans.

so what i'll just get money from the government and pay for it. it's on you and me and every other taxpayer. >> they're not getting healthy folks in there. and -- >> the profit. the profit motivate is still in health care. that's the problem in this country. we've got to take it out. we need a single payer system. >> and the supreme court has to come out and say, hey, you screwed it up in writing writhing this law, nancy, et cetera. you screwed it up so badly -- >> we are going to go back and where he re: write it for you. >> that's not what they said. >> that's what they said. >> look, here's the thing. the company saying the prices, not the government. now people are getting real health insurance. >> that's the problem. obama requires -- they require men have pregnancy tests, they can pay for pregnancy tests. >> no. that's not driving the cost. the cost is driving because people actually have coverage now. >> not true. there are 35 million people who have not gotten coverage

under this. so even that would be promised. >> we've got to talk to the governors in those states who are not setting up the exchanges and make sure that they are. because if everybody was covers, everything would be going on down. >> i'm not seeing anything going down. >> also to the state's point, these are all proposals by the companies. >> right. >> a lot of the states are going to come back and the president said -- oh, consumers go to your state regulators and make sure that, you know, you tell them that you don't want to pay that much. >> well, it's the state's -- look, the government is not saying a price, and certain states will have regulators push back on those prices. >> so you want the government to set the prices? >> no. i want there to be a single payer program. >> people won't do it. >> the country's can't pay for it. >> we're paying 14% of our gdp, that is, like, 5% higher than anybody else in the world. >> costs are out of control,

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>> america scores a hat trick, even somebody like me who doesn't like soccer has to appreciate this. usa bringing home the third world cup throw with a 5-2 beats japan, it has been 16 years since the title. >> it scored 20 million viewers, turned into fox, thank you, the largest audience for a single soccer game in the u.s. i spoke with mvp carli lloyd with mornings with maria. take a look at this. >> so many great messages, facebook, twitter, it's just kind of impossible to keep up with it all. it's -- pretty surreal. it's unbelievable and accounted be prouder of my teammates than -- we did it. we made history. >> i also asked her if she had slept, and she had not. at all. >> you know, you said she looked really out of it. i think she was some need out of it, but she was coherent. you could tell -- if she wasn't exhausted, she would be something other than a human

being. >> she had -- on her personal phone, 350 text messages, and then her agent was, like, by the way, we've got to talk. >> i've got a dilemma, i hate soccer, but i love women, and i love what this woman did. >> i love andrea. >> hate soccer, dave? we're talking about that later. thank you so much, cheryl and david. welcome to risk and reward. coming up this hour, greek banks running out of money, financial collapse closer than ever. we're going to tell you which lenders are on the hook and what it means for the u.s. economy. and greekan i stability rising more citizens there are using bitcoin. the virtual occurrence is at a three-month high and moving toward mainstream use. amazon turning 20 years old. the company wants to celebrate with a sale to rival any black friday. we're going to it you will what deals are there for you. risk and reward starts now. ♪ ♪