teddy roosevelt. you are right, ash, it is calvin coolidge. last question, this is a bonus question, who died on july 4th, quickly, mark? >> no idea. david: ash? three presidents. >> roosevelt. david: james monroe, john adams, tom jefferson all died on july 4th. neil cavuto. good to see you. neil: i remember your coverage of their death. david: isn't that kind of you. you're back to your old self, aren't you. twist the knife. neil: coming out of my fog. coming out of my fog. david: bless you, neil. neil: david, great three hours there, i appreciate it, my friend. we're getting to the bottom of it, what is going on with the cyberattack. we don't know much about it. we know we got word out of ukraine is was effectively shutting down a lot of websites

of ukrainian government, including the foreign ministry, and a host of banks in ukraine. the ukrainian government immediately pointed the finger at the russians. the russians said essentially we don't know what you're talking about. you know the drill. we were holding our own. we sped up the selling as soon we got word of this. whether there is anything to it, how widespread, seems localized to ukraine. you can understand worries around it it, is this a preview of attack by the russians if they are behind it. they are saying nothing of this sort. we have a lot of coverage on this with brian moynihan, the bank of america ceo who will join us later in the show. we have the latest from ukraine with trey yingst, peter doocy at the white house. let's first got to trey to get an update. do we know anything, trey about the cyberattack yet? reporter: neil, we don't know much about this cyberattack now. we do it affect ad number of government websites, very

similar to an attack attributed to russia last week taking down key government infrastructure this country is preparing for a broader conflict with russia that could include cyber and hybrid attacks. we do know ukraine is set to impose a state of emergency starting at midnight that is according to the national security and defense council. the it will exclude regions include donetsk and luhansk. the citizens are able to carry firearms. the russians built a large field hospital 12 miles from the border. russians clearing large areas of land near ukraine in the past 48 hours and moving in military equipment. the tone has shifted with intelligence officers telling local media, in the second largest ukrainian cities there could be a larger russian offensive targeting this

country. that matches the ongoing assessment of russian first. diplomats are starting to leave ukraine. and video showed the embassy in kyiv previously filled with people totally empty with the flag lowered. neil? neil: trey, great coverage. great coverage. your coverage is speck tag lar but please stay safe. peter doocy from the white house. he is spectacular. the administration added some sanctions they sort of share a common theme to go after oligarchs rich guys, not vladmir putin himself, banks, lending that sort of thing, it seem to be focused on the money, doesn't. reporter: it is focused on the money. they are not going into russia to drop all sanctions they can to stop further movement. they will escalate as russia

escalates. officials here flirted with the concept of a meeting between biden and putin. we're told that is off even though putin is on camera today saying he is still up for a chat [speaking in native tongue] reporter: so he is saying one thing but doing another. sanctions from the u.s., uk, germany, japan, australia and others on be russian banks and elites have not led the russian leader to back down as widespread reporting reveals that many russian interests spent the last few years reducing exposure to western banks anyway. so the impact there may not be what the biden white house wants and the impact here is something white house officials from the top down want people bracing

for. >> it will impact the markets. we have seen that already. so folks that are retirement age, they will likely see a difference coming up and certainly our energy dependence on russia has grown in this administration. so again we need to ramp up our own energy independence here in the united states. we can do that. reporter: we expect to hear from the press secretary jen saki today but no president biden events on the schedule. that could change as world events unfold but unless they do we won't see him today, neil? >> peter, you have asked this, has the president responded to some of the criticism he has gotten about the tepid nature of early sanctions? i understand the delicate dance not overdoing it, especially to hold off a full-scale invasion but they seem pretty kind of light-weighted? reporter: they came out

yesterday, pretty late in the day by normal standards to defend the sanctions but they will keep going bit by bit. they essentially are waiting to see what putin does. even though there are all these reports they're warning you ukrainians that there is full-scale invasion of the country. they're not stopping it with the sanctions. they will wait and see and ratchet up as putin does. neil: thank you my friend, peter doocy from the white house f we get any comments out of pennsylvania avenue we'll pass that along. to kirk lippold, former uss cole commander. kirk, always great to have you. i wonder your thoughts, having handled terror, having handled pretty violent hot spots in the past i wonder other of vladmir putin and get inside his head. on paper he is losing a lot of

money and stands to lose a lot more yet, it is not altering his line of attack here. what do you make of it? >> first thing i would like to do the american people understand there is continuation of an invasion that started in 2014 with the seizure of crimea and eastern ukraine. it is not a new invasion. so what has been going on since the obama administration is now continuing in the widen administration is application of sanctions. they don't serve as a deterrent. putin has spent the last several years getting his military, his economy, the oligarchs and his businesses all lined up to be able to absorb the hits that sanctions would impose. he is not going to be deterred at this point. sanctions are a form ever punishment. consequently if the administration is not going to do anything proactive to deter him, he will continue to roll through ukraine and he is going right up to the border of the baltic states and poland.

next thing you know europe will be teetering on the brink of continental war. neil: back to putin and you know, why he risked this. i'm wondering if he has found ways around these financial penalties? he has upwards of a year to prepare for it, currently over the last year he has gotten the russian budget in better shape than it was, still not great but better than it was. spending is low, chipped away. i'm wondering given the fact that oil prices are rocketing, we could hit $100 a barrel maybe he is factoring in that currency as his money standby? even if he loses a lot of western countries as customers, there is ample black market, eager customers for it including china? so he feels sort of bulletproof what do you think? >> i think you're right. i think right now, neil, putin is playing a strategic game. he knows what the risk benefit is of what he is doing.

he is factored in that calculus. when he is looking at it he wants to rebuild and re-establish the russian empire. as you have to remember, from his mind's eye he has looked at the fall of the seven yesterday union as one of the most embarrassing, strategic things, embarassments that ever happened to russia. he wants to turn that around. he has spent now two decades investing in his country, in the military, and the capability of those surrounding him to be able to launch an attack like this and be able to start the process of rebuilding. he is not going to be deterred by. it is going to take proactive activity. when you look at the cyberattacks that are coming. we're waiting with bated breath, my question eventually, i know people out there say we should not get engaged in this land war immediately. the problem is look at what hitler did?

putin is doing that in belarus, the same as he did in austria. he is now looking at ukraine as the sudetenland. there is not a lot of fighting with ukrainian forces yet but he is continuing to march westward. i think that he will continue to march past it. this is a continuous invasion. it has gone on since 2014. he is prepared to do whatever it takes to rebuild that empire and my fear it would be that he is even considered with those nuclear drills what has been the west's reaction and it was virtually nothing. so strategically from putin's mind set, everything is, everything he is doing is falling right in line what he wants to accomplish. plus, he is has not suffered any real penalties as a result of doing it. neil: this cyberattack, commander, we don't know much about it, we don't know if it happened, how widespread it was. we do know that the idea was to target banks, government

institutions, reason why that concerns people, an invading country would do that sort of thing before invading. what do you make of that? >> i think one of the great strategic errors that the united states is making today that we're viewing cyberattacks as a criminal event just like we viewed terrorist attacks pre-9/11. we have to pivot and the government now needs to establish itself as the preeminent force that is going to protect our economy from these so-called criminals and actually hold the governments of china, of russia, of iran, north korea, hold the governments accountable for what is going on. because i honestly don't believe that the leaders in those countries are oblivious to what is going on. they are working hand-in-glove, especially in russia with their intelligence services to know what they're doing in ukraine and it is going to be spread to europe and to the united states.

treating them as cyber criminals is a 20th century outlook. we're in the 21st century. it is beginning to look forward and our government needs to start taking proactive action to protect our economy and businesses. neil: kirk lippold, well-said. thank you for joining us. we're always talking in the middle of a crisis, commander but i enjoy just the same. i appreciate your insight. former uss cole commander kirk lippold. we're going to expand on this a little bit. if cyberattacks happen in ukraine, if invasion comes, can it spread beyond ukraine, cyberattacks on financial institutions and more? brian moynihan, ceo of bank of america will join me in the next few minutes. meantime taking a peek at the markets, the fact this has not gotten more widespread or this ukraine attack if you want to call it attack, the russians are denying they're behind it, even some reports it isn't as widespread earlier thought to be the case there is no way of

knowing in these fast market conditions. any hint of news that shows maybe it is not as big of a deal as we first feared, it is enough, enough to turn a triple-digit loss into a fractional one right now. stay with us. you're watching fox business. ♪. certified turbocharger, suspension and fuel injection. translation: certified goosebumps. certified from headlamp to tailpipe. that's certified head turns. and it's all backed by our unlimited mileage warranty. that means unlimited peace of mind. mercedes-benz certified pre-owned.

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neil: all right. not exactly a "fox business alert" to tell you that the real estate industry is booming. that home sales are soaring and home prices are soaring too. the highest more than three decades. gerri willis has been keeping track of it, joins us right now in east chester, new york. hey, gerri. reporter: hey, neil, you've got that right. prices spiking even more. that is what we've been seeing year-over-year in the major metro markets. those prices are up 18.8%. that is the highest in 34 years since they have been keeping these records. i want to show you exactly what that means for starter homes. right over my shoulder here, the pink house going a shade over $700,000. adding insult to injury, guess

what? taxes are $16,000. this is creating a lot of attention for wall street who is buying hand over fist. companies like blackrock, kkr, jpmorgan asset management. buying homes for cash, renting them out, squeezing out first-time home buyers as a result. most recent data, 33% of all homebuyers used to be first-time home buyers. now it is 27. one in seven homes are purchased by institutional investor by wall street essentially. so another barrier to entry for first-time buyers, interest rates are cruising right under 4%. the latest numbers from freddie mac, 3.92. this is creating mania in the market. people trying to get in on the action. watch? >> i want to be part of people driving up these crazy prices. it feels out of control. it feels irresponsible. it feels like, i don't know what is going to happen to this real

estate market in a few years. what will happen to all the people who are just spending. reporter: so we haven't even talked about inventory, right? that's down 23% year-over-year. look, neil, if you can afford the house, let's say, that you got the money, you can line up a loan, you're happy with your interest rate, at the end of the day you might not actually be able to find something that you can move into. back to you. neil: that is what they call supply and demand, right? thank you, gerri, very, very much. gerri willis on that. jared levy with us, superb market watcher talking about real estate when last wechatted. jared, it is one thing to see the price of pork, a lot of items like bread, milk, eggs soar as well as gasoline but there is something different about real estate. it is a dream investment. it is a goal. it is staple as iconic near birthright and goal in this

country. it is getting prohibitive. what do you make of it? >> this is really, bring this topic up, i am writing as we speak to clients about this today. referencing the great recession and a shift between 2011 and 2017 the u.s. added i have statistics here 6.5 million renter occupied homes. all right? a lot of these funds and institutions coming in and grabbing up a lot of america's homes, you want to hate them. in a lot of ways yeah, it is frustrating but there is a double-edged sword here. one piece of it, the one redeeming factor, the reason why home prices continue to go up, why they probably remain stable even if the economy slows down, these institutions don't have a need to sell, right? they're not leveraged to the hilt most of them. their business is the rental game. so they will not flood the market say when the economy turns down. the problem is it is really difficult for the average, you

know, average american making 50, $60,000 to go out there to buy a starter home for their families. neil, i'm not sure where this goes. what i will say the fact these players are involved, it is going to add an element of stability. i know not what anybody wants to hear but it will add an element of stability if the economy starts to falter. that is maybe one positive aspect if you will. neil: that's interesting. let me step back, look at the markets right now. obviously it is all ukraine. better things look over there or won't go explode on us. the markets rebound. that has been the exception to the rule, falling still further on the idea that it is not going to end nicely. how do you play this? >> it's tough to play. i think for the average investor you have to take your time here. this is a traders market. i don't think by the way big picture, i don't think we're getting back up to 20, 22 highs.

it is not just ukraine-russia conflict. americans right now are unhappy. consumers are unhappy. a "gallup poll" came out the average american is about as confident as they were back in 2009 in the midst of the great recession. so the point of that is, one has to think, all right, let's assume this ukraine thing has worked out diplomatically. i don't think that will happen. assume that happens. what is the future here in america? what is, you talked about rising price, home prices, you have a consumer that is the first time, neil, in history where upward trajectory in economic growth has not triggered contentment and happiness in americans. i'm wondering, me, every other, what sectors do you go in? indexes not probably getting up to the 2022 highs. you play into some of that housing market strength. continue to look at some of

those sort of homebuilders and some of the you know the lowe's and home depots, home is a safe place, if you got one. it's a safe place to be. but it is going to be tough here. tough to trade for sure. neil: yeah. probably the understatement of the century, you're right. jared levy, thank you very, very much. no matter how you feel about whether this will be a european-only problem, the fact of the matter is, a lot of companies, a lot of sectors have wide exposure to russia, wide exposure to europe. ceo of bank of america worried about it? we'll ask him, because brian moynihan is here after this. ♪. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina?

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neil: still trying to get details of the cyberattack reportedly going on in ukraine. we don't know how widespread it is. exactly how much of a threat it was. we hear from ukrainian officials that government sites were targeted as well as banks and institutions. initially that led to a wave of selling for fears this was russia behind it, getting ready for an invasion. russia denied any involvement in this. we don't know much more than that. markets have stabilized including financial related stocks. the fact of the matter was, to a bit of a degree remains a bit of a concern. cyberattacks on financial institutions is nothing new. concern about exposure to that if this is widespread become as full-scale invasion. the read on that, bank of america ceo, brian moynihan joins us now. mr. moynihan. very good to have you. >> good to be here. good to hear you back, neil. neil: thank you very much, brian. let me first get your take on a

worry about cyberattacks. you dealt with this, leading a charge to respond to these type of developments. this seems localized for the time-being to ukraine. what do you make of them, the possibility of them growing as things get more heated? >> well, the issue of cyberattacks obviously gets elevated during a time of strife and geopolitical activities. that is one of the ways that the war is waged but on the other hand, if you think back at it more broadly, you referred to it, neil, at our company we invest billion dollars plus a year in cyberdefense. all the teams have to work on it to be good. we do a lot to protect our flank. with the administrations, going back to the last two or three administrations we're informing, giving good information to our industry and other industries to make sure we're --

[inaudible] to make sure what is going on to keep you us informed and that is what is going on every day. neil: yesterday there was concerned about exposure, financial institution exposure to what is going on in russia, ukraine, some of the players, including those with ample exposure to russia. austria, italy and france. not surprisingly they have a number of big players that do have exposure. i could go on. hsbc, the european bank, had worried about the potential of a contagion. are you worried about that? >> well, we're always worried about contagions from anything, geopolitical events. our exposure to russia is limited. we have a division in capital markets, investment banking, corporate banking, it is very

small exposure. you do worry about people that have bigger exposures. frankly all the work we do on counterparty management, across our industry since the financial crisis the understanding where the positions are, the exchange traded positions versus bilateral positions not known, all that works to make sure the regulators, ourselves know where the exposure is and we all work to mitigate it in times of stress. this is one of those times. neil: it has been a volatile time for the markets, virtually all sectors. this coming you know, with interest rates the feeling was banks would benefit environmental, yours included. now you have this cloud with the ukraine. how do you see this all factoring out? >> well, it is hard to predict something that is completely you know, not within the control of the banking system but if you think about it, backing up more, neil, to your point, to be clear about it, we saw 6% growth round numbers in the united states

last year. the expectations is 3 1/2 to 4% this year. next year, meaning 23, it would come more in line with trend growth, two, 2 1/2. economy got overheated with fiscal work done by the administration, trump administration, biden administration, helping put lots of money in the economy to offset the impact to the pandemic. obviously the monetary combination. that is not needed anymore. so the fed is going to move rates up. that will bring the economy along trend growth lines, hopefully deal with inflation, deal with it well. when you have something like geopolitical events come in, supply chain events, those are creating additional uncertainty around the out comes. reality we feel good about the u.s. economy. what we see on the consumer base and spending. corporate customers and borrowing, credit availability, everything is very strong. capitalization of banks, liquidity of banks. reality things will ebb and flow. if we look at it, sector is great shape to support the real

economy. you will see the economy grow. it is going well. unemployment is slow, wages are growing. we have to get inflation under control at the same time. neil: maybe the federal reserve addresses just that next month. it is expected to raise interest rates at least a quarter of a point. others are saying it will be a quarter of a point each fed meeting every six weeks. maybe additional quarter-point hikes, maybe half-point hike there. where are you on this? >> our team at bank of america research which is the best research team in the business, michael heart, that made some news about a month ago when he said they would do seven times. at time markets moved up to five, six, seven. i think you will see them try to normalize more quickly than before absent some extraneous outside controlled events because the fact of the matter the economy is as big as it was in 19, round numbers. unemployment rate is full employment plus. inflation is in there.

so they have got to move faster to normalize because the rate, the rate of recovery was much faster due to the strong fiscal stimulus and monetary stimulus. so the idea that the fed would move faster than people thought doesn't surprise me at all. i think they node they need to. the pandemic path is always unpredictable. we all know that. geopolitical events could be unpredictable. inflation is not temporary. last fall. it has to be dealt with. much moving rates up we'll deal with it, you will see them move relatively quickly. seven-times this year probably on the outside. five times, six times a market. that is 1 1/2% it was 2% back in 19 when the economy was this big and predicted to grow half the rate it is growing right now. neil: talking about fed funds overnight lending rate had been at zero. all of sudden it gets up potentially to the 1 1/2%, 2% neighborhood, do you think the fed is taking sweet time, brian?

i mentioned new zealand, third time, seen a host of other countries, uk, south korea, mexico, pakistan, brazil, i can go on who have started raising rates. here we sit. what do you make of that? >> i think they have been clear they're moving and market gets ahead of, seen 10-year treasury rates move up by 30, 50 basis points. you've seen the fenn year treasury rate moves up. market discounts the future to move up. frankly the benefits of a higher rate structure already coming through the market before they actually take action. they know what they need to do. they have tools to fight inflation. they have to apply, careful not to overapply them. that causes recession on the other side. we'll live through a period of turbulence as we sort through this reality if you look at underlying activity by our consumers, month of february, first couple weeks, they're spending 12% more than they did last february, first couple weeks. year-to-date the 15%.

the numbers, transactions are up 11, 12%. not just the dollar volume. could say inflation, numbers, transactions. consumers have multiples of money in the account they did before the pandemic. last year, this was end of stimulus came off this quarter, since then compounds up 40, 50% than last year. they have money to spend. they are employed. wages are growing. we have to pull more workers off the sidelines for the good of america so we get more productivity out of this great nation's economy. supply chains are getting a little better. there is work to do. that bodes well. the fed has to move to normalize, the pace they have a lot of models and debates but the market is already ahead of them pushing it forward. neil: you're right about all the consumer spending, all the numbers, the asset and how their balance sheets look. for americans a lot better than they were. i'm wondering though, with so many consumer sentiment surveys that show they're getting a little concerned. they're not quite as robustly

optimistic, you see them restenching a little bit? you see them less inclined to take out a loan in this environment? what do you think? >> well, i, if you think about in terms of spending, their spending is as strong in february as it was in january. it was really strong in the fourth quarter but that was sort of coming, especially early part of the fourth quarter that was when the world pretty much opened up fully before the omicron variant hit. so, that is kind of all behind us. you're seeing basically all states reduce any restrictions. outside venues are open. we're seeing travel spending up 80% in the first part of the year here. that isn't people traveling in january and february, that is booking summer travel. frankly can't get it if you won't book about it. they're frankly worried about inflation. that is why the fed has to feel about inflation under control. it feels good your house price is going up. if it is going up that much, to

buy a house, sell a house, you will pay a lot more, rates move up in mortgages, that will move the housing market up and down, up 18% a year is not sustain able way for americans because population growth is he will relatively low. why is housing up that much. it has recovered, moving forward. we have to bring things back under control that creates not as fulsome, all trees go to grow to the sky for consumers. if you look at data, they're out spending money on restaurants and travel and things like that which is good for the u.s. economy. neil: my wife can't do it all by herself, brian. i keep telling her that but she is doing her darnedested. >> hopefully she is client of ours, hopefully a client of ours and using our credit cards. thank you, neil. neil: i will check, brian moynihan ceo of bank of america. markets are up maybe responding to some of the things

mr. moynihan was trying to point out. we're trying to get the read what the administration is saying today. a lot of republicans are saying the white house isn't doing enough but not all republicans. some are saying, sanctions are one thing. soldiers, mr. president, that is quite another. meet him next.

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deserve to have a say before u.s. troops are placed in harm's way or the u.s. becomes involved in yet foreign conflict. democrat congresswoman barbara lee said they wrote the letter for the public to understand the president means what he says about not sending ground troops in and speaker pelosi just told me she supports this effort. watch. >> although -- country we will not -- [inaudible] know that we are with them. not only in spirit but materially in terms of meeting their needs and just heralding their message with gratitude for the defense that the people of ukraine are making for democracy. reporter: what does she mean when talking about material needs? well the administration has apparently told congress if there is a conflict there would be a need for humanitarian aid to the tune of one billion dollars.

meanwhile fox has also confirmed democrats and republicans are now crafting a measure that would require congressional authorization if u.s. forces are pulled into hostilities in ukraine. now congress has routinely authorized use of american troops overseas. the war in iraq, 2002 in recent history. lawmakers were not unable to repeal two outdated war authorizations last year, neil, it would be a stretch for president biden to use those, justify using those for more involvement in ukraine. so congress is trying to get ahead of anything that might happen. neil: got it. ashiah, thank you, great reporting from capitol hill. alabama congressman jerry hall joins us. were you among those that signed the letter? i only expressed you expressed concern about boots on of the ground in ukraine? >> actually i'm in israel.

my staff was supposed to sign it for me. i can't verify if they got my signature for that on this moment. we were supposed to sign off, yes, sir. neil: got it. i do know when the alabama congressional delegation had talked about this you had raised your concerns, quoting, i hope i got it right, congressman, the way it is right now nate though is getting more involved. i think things are looking better. i know what you see on tv right now is still a little bit boom my but i think we'll get more positive, do you still any that is the case? >> i do. the direction we're going. nato has to take control of this. our president is totally incapable of doing anything. i will share a little bit with you. we were briefed 60 plus days ago how this is going to go play out. how they knew how it was going to play out to the day. i'm really confused, i don't know how you can do that but if they shared that much information with us as

congressman, surely the president knew 60 plus days earlier. now he is reacting? why didn't he react 60 days ago when the rest of us started sending messages that we needed nato to get involved? cut the pipeline off, which germany did it. they did it on their own. they didn't do it because of leadership from this country. it scared me -- neil: your point, you're a congressman you seem to be saying they could have done all that earlier? >> sure. neil: they only cut the pipeline yesterday. do you think those sanctions, other measures should have been imposed when we got even the first hint of russian troops amassing at the border? >> when i was briefed 60 plus days ago from what i was told we should have done it right. the conversation should have started right then. and we as americans, i'm over here now in israel, i understand the strength of america in these

foreign countries and they really look up to us as a country. they're scared of what is going on right now with the administration we're dealing with. so we should have taken the leadership on it. we don't have the leadership on it. i don't know what the president's doing. if the same people briefed me, that briefed the president and he knows what i know, he would have done something 60 days ago but he has done nothing. he just sit and waited. like reliving afghanistan over again. you know, it is a reaction is the only way he knows how to respond. neil: so the sanctions, what he is doing now, would you do more? because we can't obviously put milk back in the glass that was spilt? would you up the ante for much more sanctions that than he is imposing now. what would you do? >> i would tie up every dollar i possibly could in the market. personal money. only way you get putin to respond is money. you have got to tie it up.

his businesses, his cronies around him. you have got to tie their money up. you've got to shut that cash flow down. you shut the cash flow down they will start screaming. they will start backing up. but it is going to take somebody that is willing to do that. neil: all right. he is not responding to all the pressure points that have been of late. watch it closely, jerry carl, congressman. >> thank you, neil. neil: we'll watch developments and how russia is responding. if it is supposed to be intimidated by financial crackdowns, going after oligarchs and all that, so far it is not happening. stay with us. (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured

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>> what a hot mess we're in in new york city. how is that no bail situation work? how is that defund the police situation work? how is that defund prison situation work? and yet our local officials are digging in. they are stubborn, they're obstinate, pretentious, on nip tent but they know nothing about nothing. neil: curtis sliwa talking about the crime wave rampant in new york city where they try to beef up security, police presence in subway stations, times square, you name it. my next guest is saying a lot of

people are taking matters into their own hands. he is the ceo of mace security international. big maker of mace as the name would imply. very good to have you. i am i am not too startled here, sales are growing as fears of crime is escalating, right? >> that's correct. we've seen a recent uptick in sales in several neighborhoods in new york city. it is understandable when violent crimes like this happen, people want to feel empowered, feel safe to protect themselves. neil: who is buying? >> a lot of asian-american women from what we've been told. neil: and, they just want that, that protection, in light of some of these recent attacks of outside new york city metropolitan area. there are number of brutal

attacks on young asian-americans, older as well. but, you know, demographic goes way beyond this, right? these attacks have been random, fairly brutal. you know, even mace can only do so much. pepper spray can only do so much. so what do you tell the potential customers? >> yes to your point, neil, to clarify there are other people in demographic who buy pepper spray. i was trying to state what happened recently in the last week. neil: understood. >> so what can mace brand do? well we, we're a mission-based company, based on empowerment of families and individuals empowering them to be safe. we offer a lot of resources on our website, on our youtube channel, to educate people around personal safety. we encourage people to be

prepared. that's key. to feel safe. what else can people do? they can learn, implement and practice situational awareness training. take self-defense training. they can carry personal alarms that you know, mace brand happens to make as well. there are many, many options available. we're partnering with 501(c) corporations that equips demographic and others to -- neil: all good. the sanjay, thank you very much. keep us posted. it's a reflection of our times that people are taking matters into their own hands. stay with us. we'll have more. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further.

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muck. ♪ ♪? >> russia's interests and the security of our people are unconditional. >> this is a knife straight to the throat, and they no doubt expect to implement these plans just as they have repeatedly done in the past years to expand nato to the east. >> we will fight with the russians. actually, we're leaving -- [inaudible] but we are ready -- [inaudible] senate it's very important to see now who is our real friend and partner and who continues to frighten the russian federation

with words. neil: all right. the situation now, a state of emergency called in the ukraine, already an effort right now to sign up men ages 18 i believe all the way to 65, to have reserverists on standby for what, pray tell, could be an invasion by vladimir putin and close to 200,000 russian soldier. jennifer griffin following all of it from the pentagon. >> reporter: a senior u.s. defense official told me just moments ago putin's forces are as ready as they can be. they are ready to go, he said. 80% of their forces are in forward positions, 100% of the russian forces that were expected are there now. they are uncoiled, this official said. what we are now witnessing is the opening pre-assault attack on ukraine. u.s. officials say it is the beginning of a full scale russian invasion. of note this morning, a massive and rolling disinformation campaign has begun. the foreign ministry spokeswoman

in russia, a longtime putin loyalist and skilled propagandist, posted photos on her facebook page which she said showed evidence of genocide in donbas which she called former ukraine. it shows piled-up dead bodies. there's no way to know whether these photos were staged. the hybrid warfare an lit cam group of ukraine explains what to expect based on what putin did in 2014. attempts to steal personal data of ukrainian soldiers for military and psychological operations, sending threats to the soldiers and members of their families urging them to defect, attempt to discredit pretty are call and military leadership, portray them as traitors, spreading disinformation about the start of hostilities and providing fake insights about large scale casualties trying to cause divide and mutual hostility the among the armed forces, discrediting possible mobilization, spreading instructions on how to avoid

mobile mobilization as participant9 of the ukrainian nil military, promoting and organizing protests for, quote, peace at all costs to subdue to the kremlin's security guarantees and spreading false messages to portray the armed forces as demoral ifized and dangerous. psychological warfare in action, ukrainian soldiers on the front lines start getting text messages telling them that russian troops have an order to advance and advising them the flee if, surrender. on telegram, fake ukrainian soldiers write about demoralized army, even in neighboring poland, cyber experts who keep a close eye on russian bots have tweeted in action. in poland, anti-vaccination movement has started to spread anti-ukrainian content. and then, of course, neil, the banking web sites have been knocked offline with another wave of distributed denial of service attacks targeting the defense foreign and interior

ministries as well as the country's largest bank. ukraine's cyber defenses seem to be effectively putting those services back online, blunting this next attack, but what comes next is anyone's guess. neil? if. neil: you know with, russia has denied having anything to do with this cyber attack. what do you think? >> reporter: neil, that's patently absurd is. russia is completely behind any sort of cyber attack on ukraine right now. it would take a great deal of disbelief from me to -- i would hate to see proof that they were not behind it. russia has,s this is part of their opening campaign against ukraine. we were told just moments ago that it may, in fact, this coul, these cruise missiles, ballistic missiles, the fifth generation war planes that are in position, are fueled up, the attack on ukraine could happen at any

moment, and we expected the kind of cyber attack and the denial of service attacks that we started to see this morning. but it's important to point out that the u.s. military was on the ground in recent weeks showing the ukraine's interior ministry and their, and their technical ministries how to defend against these kind of cyber attacks. in this first wave they may have been successful in getting their services back online, but what comes next. again, russia has overwhelming power in this space. neil: thank you very much for that, jennifer griffinment -- griffin. belinda or natalie, what are we looking at with in this live feed that's coming in to us here? okay. it's fireworks in russia. okay. i just want to be very, very clear of that. i didn't know. i just wanted to get to the bottom of that. no attack going on as we speak in ukraine, but that did alarm me a little bit.

claudia row set joining us now, former moscow bureau chief. this woman has a backbone to, you know, throw away all backbones. she's a brave lady. what she has said about the powers that be in the united nations, security figures. what jennifer was getting at, that there's very little doubt in her mind that russia was behind these cyber attacks, the reason that's an important issue is cyber attacks are usually a setup to something else. do you think it's true that russia was behind this, that they are getting ready for something else and -- else? >> i would not give them any benefit of the doubt, i'd assume they're behind it. and we still don't know if there's some credible threat by putin or will he really go. putin can lie about anything right now. he's not constrained by a domestic press or rivals who

will turn on him and expose him. part of what he's been doing for 22 years is sub jewish gating russia. whatever he wants to put out there. 9 and the point isn't necessarily even that we completely believe him or his, the people who work for him, it's that it muddies the waters. it keeps us debating. we wonder, you know, is this for real, is this -- we try to weigh it by our standards. at point -- this point, this is a gunfight that this is coming down to, and that's, those are the terms on which things will really matter. so, yes, by all means dismiss these things as nonsense, but exposing him isn't going to stop him. neil: so yesterday i had the pleasure of trying to help me get inside his head, and you were offering some things that might be going on, but at the real risk of getting financially hurt himself even though i'm sure he's socked a lot of money

away, but a lot of his oligarch buddies, a lot of financial institutions, the russian stock market itself going back to october is now worth a third less than it was back then. so the country's been roiled by. i'm just wondering how it is he just, you know, ignores all of thatment -- that. >> he's been preparing for this for a long time, and this is long term, i think from his calculation, long-term gains for short-term sacrifice. if he gets out of this ukraine, humiliates nato, furthers the precedent that he can seize neighboring countries, he's got a lot of plunder ahead not to mention his vision of restoring his glorious empire over which he rules without the communist waste that he didn't like. all that is in play. he's 69 years old. this is his, i think, his -- he sees it as his mission in life. that's what he's bound for. also the sacrifice he's making,

it's not even clear to me it will be that great by the time -- however it shakes out. the sanctions that president biden put on yesterday were, i'm sorry, they were a joke. nord stream 2 isn't online yesterday. nord stream 1 is flowing. i mean, germany is already getting russian gas. it's not getting less because of this. sanctions on russian sovereign debt? they don't have that much. putin's been working that down. he's got more than 600 billion in reserves in gold and euros. he's got a lot of -- he has been planning this for years. and he's executing something where sort of the way, you know, you decide you don't like paying a lot for this big investment, he's making an investment in his variation on world conquest right now. it's a big project. [laughter] sometimes he needs to lose a little in the short term, but we're not stopping him in any significant way. neil: claudia, we're going to keep it an on it.

for those of you at home, this is a live shot of moscow, russia. there are fireworks going on that had me worried prior because i didn't know exactly what we were looking at here, but today is a celebration of red army day. very important day for the armed forces in russia as it is on the brink of seeing at least some of those 200,000 soldiers, close to that, on the border pen penetrating that border. we don't know how many russian soldiers are in there right now. this is a separate issue going back in moscow, but the russians themselves despite the financial pain they've been dealing with are largely rallying around their leader: we'll see how long that lasts. much depends on, of course, how these sanctions pan out and what impact they have on moscow and on russia. but more to the point, even on us. because there's are going to be a little bit of pain, maybe a lot of pain on the countries that impose these sanctions in the first place. edward lawrence has more on that. >> reporter: hey, neil. yeah, there's a ripple effect

that happens here. ukraine produces, is a large producer of neon gas. senator marco rubio says that u.s.-based semiconductor manufacturers or use 90% of that neon gas to make a semiconductors, and he worries that should there be a full scale invasion, that could disrupt the export of that a hurting business business with huge backlogs already. ukraine is also one of the top five producers of wall street and corn in the world,. any disruptions could raise food prices because u.s. farmers might be offered more to ship those overseas, consumers would have to pay more to keep the food here. on the ore side of that -- other side of this, we're already seeing oil and gas prices going up. the ceo of the american petroleum institute sounding the alarm about the energymisdirect that the russian are president could be counting on, saying the nord stream 2 pipeline won't matter should russia take the ukraine. there are oh pipelines in ukraine with oil and natural gas which europe relies on.

>> you have access to all that pipeline infrastructure in the country of ukraine, those pipelines become less relevant because you have access to those markets through the country of ukraine. >> reporter: former energy secretary rick perry says former president donald trump helped make the u.s. energy independent and europe energy dependent on allies and friends, not enemies, putting putin -- or saying that putin is not our friend. >> he's putting his country's economy in jeopardy. at the same time i say that, one of the things that is strengthening his economy are the biden policies of cutting back on u.s. energy production, and the russians are benefiting from it. >> reporter: so an invasion, a full invasion could affect more than just oil and gas prices and make europe more reliant on russia shah for that natural gas because of regulations that we have here in this country on our

energy industry. back to you, neil. neil: all right. thank you. it's interesting, goes way beyond energy. edward lawrence at the white house. my next guest has been talking about this for some time. we forget that a ukraine is considered by many to be the breadbasket of europe. a lot of agricultural items that it trades not only with europe, but the world for that matter. and if that's stymied, all bets are off. our next guest runs a way you can access market offing agricultural items like corn, wheat, soybeans, etc. sal's kind enough to join us. explain the impact of a potential invasion on these items if it comes to pass. >> sure. we've already seen that impact. the wheat market's began trading yesterday as if it's a wartime market. we saw prices go up about 6%. that's going to have a ripple effect on food prices around the world. and what people are afraid of are shipping disruptions. remember, the wheat's asleep right how now in the field.

95% of the wheat is winter wheat, it lies dormant all winter, and they harvest it in early summer. tanks rolling through those fields, they're not going to destroy a lot of wheat. what is at stake is the wheat that's in storage that is shipped from the ukraine and corn. the ukraine is the third largest exporter of corn in the world. they will be this year the third largest exporter of wheat if you don't count the e.u. as a single bloc. they would be fourth in that a case. if so they have the world's food, they are the breadbasket for africa, they are the breadbasket for europe, they are the bred basket for the middle east and, in fact, china buys most of their corn. so this is going to impact a lot of people. the beneficiaries will, of course, be american, south american, european if farmers who are going to sell their crops. i think, you know, right mow the bids are for wheat in france and from russia. people are not bidding for wheat out of the ukraine get. supplies are not disrupted. there are still offers, but

people are afraid to send their ships there, and that's what's happening. that's what'll happen if war starts, that is what'll happen with internet disruption are. if banks can't work processes, processing of the grains can't happen, logistics are disrupted, payment is disrupted. they won't be able to ship these massive amounts of wheat and corn that they sell to the rest of the world. neil: that's an angle we've underappreciated. to sal's point, you have to look beyond energy prices, look beyond the effect on financial institutions, but basic commodities from wheat, soybeans, corn, so much else could be affected and could see their prices rocket. that will not be pleasant news to americans who have very -- already seen grocery store prices soaring very well on their own before all of this. stay with us. ♪ purple rain, purple rain, yeah, yeah. ♪ purple rain, purple rain ♪♪

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♪ neil: all right, taking a look at the corner of wall and broad, we're, as our stocks editor, charlie brady, has reminded us, at near session is lows right now. things started out hunky dory, i

think, and charlie are correct me, we were up a couple hundred points. give that all up on the cyber attack news and the better part of valor is selling and then maybe ask questions that may be more rational. kenny polcari in the middle of all of this. kenny, hour you just playing the markets on this? >> so i think right now you have to be cautious, right? you have to remain cautious because it's so volatile. i mean, look, you said it this morning, we're sold off, we had this what appeared was going on the bounceback rally, and then you get the headlines all over again whether it's a cyber i a tack, moving tanks around, kind of thumbing his nose at the world, not really caring what the world does. so that's going to continue to create, you know, some chaos and weakness in stocks because the path of least resistance at this moment is lower versus higher, and i think people node to be prepared about that. but remember, in all this chaos they are creating some great

opportunities, longer term opportunities in the market. stocks that are getting unnecessarily beaten up because algos are looking to raise cash, investors are looking to raise cash, and they're arbitrarily hitting high quality names whether it's apple or microsoft down nearly so -- so 10%, this crisis is not going to affect apple's long-term business. if you can buy it down 10-12%, why would you? neil: unless it does. in the near term if it spreads beyond the fears that, huh uh-oh, sending troops to poland are, that's getting aloafed -- ahead of ourselves here, but it's had some duration, traction to it, then how do the markets deal with it? >> look, i think the market's going to remain volatile one and pressure -- neil: what what are safe investments -- i'm sorry, my friend, but what are safe investments in that environment? >> well, so i think you have to look at some of the big, again,

i would say some of the big consumer staple names, right? the mega cap u.s. names like procter & gamble, johnson & johnson, ibm, things like those big u.s. names that, you know, are dividend payers, they're big, solid, multi-mega cap companies that will provide some savings if you want to be in the market. if you get nervous and you're getting antsy about even being in the market because of what's going on, that's a whole other conversation. not that i would suggest that a anybody should be, you know, selling everything and go to cash. i think that's the wrong move too because i think this too shall pass. i think he's going to push and push and push, and i think they're going p to come up with a diplomatic solution that allows everybody to save some face, they get a little of what they want. nato will back off, he'll keep the with two pieces of ukraine, and it should settle down. that's kind of the camp -- neil: well, that would be ideal. not perfect, but ideal. let me ask you about this

selloff. now, of course, we all know we're well off our highs for the dow, a little bit -- very close to correction territory on the s&p already. nasdaq, you know, not that far from a bear market. and i was thinking knowing you would be on, kenny if, a lot of people are going to start getting margin calls, aren't they? if that could, that could cascade this, right? >> it could absolutely exacerbate the issue, right? if they haven't already gotten some -- neil: right. >> look, almost nearly 200 of the 500 names in the s&p are already in bear market territory, well below -- neil: good point. >> these margin calls have been happening, but we get a broader selloff, sure, you're going to get margin calls that's going to absolutely cause that, and then you'll watch everything, you know, kind of deteriorate, right? cryptos, u.s. stocks, and so people need to just, people need to understand that which is why

you've got to be very careful flaying -- playing on margin in an environment like this. neil: kenny, always great catching up with you. we need that historical look at things. kenny polcari looking at all of this. you probably heard earlier getting back to some other news, because there's other news out there, the removal of all restrictions in britain that will fully take effect on friday and so many states and other countries doing the same thing. and then along the way we got word of this new subvariant called ba-2. but it, too, very contagious, it, too, spreading quite quickly. it, too in a lot of countries, better than 60 at last count. so are we letting our guard down a little early? we're on it of after this. when traders tell us how to make thinkorswim® even better, we listen. like jack.

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looking for a lot more funding for covid relief, but there is indication right now they might want to slow down because there's also proof of fraud in prior relief. the white house facing a lot of scrutiny over that. let's go to hillary vaughn. she's on capitol hill. what's going on here? >> reporter: hey, neil. congress set aside $478 million to provide oversight for the trillions of dollars that is going out the door in the form of covid reheat. congress even put aside -- or put in charge inspectors generals to yo see the release -- to oversee the release that was going on, they also commissioned two special panels, a special task force, and all of that critics say has not done enough to crack town on fraud or stop it from happening in the first place. one of the most abused covid relief programs, the unemployment checks that went out, they've been ripe for picking for identity fraudsters many times conducting identity theft from stolen data farms in other countries. the white house says about 19%

of checks went to the wrong people and about $80 billion so far has been lost just the last year alone. and now republicans say new guidance from the biden administration is making the problem worse. the new guidance would allow states to give up on trying to recover federal funds that were improperly paid during the pandemic. republicans in congress saying this is letting states off the hook for recouping billions in stolen pandemic relief writing to the labor secretary this: fraud delayed legitimate payments and turned thousands of americans into unwitting identity theft victims. now is the time to pursue and prosecute fraudulent actors, instead this guidance equates the sweeping under the rug what is possibly the greatest theft of taxpayer dollars in american history. and, neil, a federal watchdog over one of the agencies overseeing some of this oversight warned congress just last month that they're going to have to close their doors. they're running out of money.

so much money is going so fast in this oversight that they may to close up shop in july, this summer, when they were supposed to be in operation for at least five years. neil? neil: all right. hillary vaughn, thank you very much. well, on the covid front itself, you probably heard the news that the number of cases, hospitalizations, maybe save places like -- [inaudible] so much so in britain they're dropping all restrictions, even in hawaii they're looking at maybe keeping indoor mask mandates but removing them most everywhere else, and australia reopening their board after two years. this is playing out across the world. then, lo and behold, we get news of a stealth omicron subvariant, i guess they call it, ba-2. so it begs the question whether we are getting a bit ahead of users, getting too complacent. who better to ask than dr. marty makary who is kind enough to join us now. doctor, good to see you. >> good to see you.

neil: thank you. are we getting ahead of it? >> t hard to say right now. there's no clinical evidence that it's behaving differently once it infects somebody. and we did get a study on the pre-print server that just looked at about 1.8 million infections and found that the number of people who got reinfected with omicron, that is, they got the ba-1 variant, or the common omicron virus first, and then reinfected with the ba-2, it was about 47 people told. -- total. those cases were mild. that was reassuring, but there's some stuff we don't know about yet and we'll wait and see. but for now, it appears that we will continue to see variants like this emerge, and prior immunity will confer at least partial protection that compounds over time. neil: we do know as we take a look at cruise ships, doctor, that a good many of them, some of the biggest players, royal caribbean, carnival, norwegian, are going to remove, for the most part, mask requirements on

their ships. how do you feel about that. >> well, assuming we're going p to continue to see variants emerge every viral season in perpetuity, we've got to find a way to continue to live our lives. in my opinion, what that means is if somebody has particular risk factors, they need to be particularly careful when there's infection that's increasing. if someone is sick, they should avoid public settings and stay home, and if somebody is not immune, they need need to stay their difference and be careful. neil: what about this idea the way we have to treat -- the former cdc director spoke about this -- we have to live with this maybe akin to the way we live with the common flu and yearly shot, that sort of thing. what do you think of that? >> yeah. i mean, take, for example, schools. kids cannot wear masks forever if, right? there are clearly downsides, and we see people sort of deprive offed of their livelihoods. so what we've got to do is figure out how to do we recognize that some people may be high risk and vaccination is

of high importance including staying up-to-date with multiple doses if necessary and the rest of society is going to have a accept a low baseline risk. remember, the risk of covid in children, for example, is still one-eighth to one-ninth the risk of homicide and motor vehicle if accidents independently and suicides. so we've got to remember we have to take care of whole pimp person. neil: well said -- the whole person. >> well said. great catching up with you, doctor. be well. >> thanks. neil: i don't think it had anything to do with the doctor and what he's been saying, but we are at session lows. our stocks editor has reminded us that pushes some of these averages like the s&p well past correction territory from their highs of at least 10% here, so we're watching that very, very closely. the nasdaq was, i think, going into the day down 7% -- 17% from its highs, so that is obviously changing now as it gets closer to bear market territory which would be 20%.

but, again, it's all concerns about ukraine, all concerns that the cyber attack, whatever you want to call it, that went down in ukraine could be a preview of coming attractions. no one's for sure but, well, investors aren't asking any questions. they're just selling. stay with us. muck. ♪ ♪ i'm so into you, into you ♪♪ opportunities are all about timing. so if you're turning 65 or retiring soon, it's time to take advantage of a plan that gives you more for your medicare dollar: an aarp medicare advantage plan from unitedhealthcare.

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without the support that i received from paralyzed veterans of america. our veterans fought for us. let's fight for them. call or donate online at pvahero.org today. our veterans need you. ♪ neil: all right, the stock market not only in and out of session is lows on the day although we've improved a little bit, but the lowest levels we've seen for the dow in some seven months. in the meantime, cryptocurrencies and related investments for the most part, they might be acting as a bit of a hedge in all of this. not exactly as gold has been

doing, but there is a move afoot right now to not necessarily bury these guys prematurely and from no less than the new york stock exchange parent company. charlie gasparino has more on that. hey, charlie. >> i can't figure out if this is a market top or a harbinger that it's here to stay. the new york stock exchange's parent, ice, the intercontinental exchange, has been taken what's been described as a significant minority stake in something called t0. remember overstock? well, they transformed themselves into something of a crypto company. t0 is working on a platform to trade anything -- stocks, bonds, cryptos, you name it -- with zero settlement times. as you know, it takes two days to settle a stock. that a to two days is used, essentially, some people say it should be zero. the two days allows people to short sell the stock. we can get into that debate later, but there's very -- it's very fascinating what's going on here.

the stock exchange has given one of its top people -- excuse me, confidential exchange -- intercontinental exchange, david ghosn will become the new ceo of t0. very fascinating it's definitely a partnership here. and a lot of people think that the ice, the intercontinental exchange, could add t0 and buy it outright at some point soon, and that would be a pretty interesting foray. that would mean the new york stock exchange's parent has made a huge push into crypto. we should point out that ice started out, essentially, as an, you know, electron intrading platform for commodities and things of that nature. they went and bought the new york stock exchange. so this is a company that is known, if you've followed it over the years which i have, is known to take strategic chances on new technologies, on new ways of trading, and they may believe that t0's trading platform is the wave of the future where you can trade everything and zero settlement times.

or it could just be they're just rolling the dice and see what's happening. i can't tell you with. we are going to have jonathan johnson, the current head of t0, on today. he's going to be interviewed by liz claman and myself. there'll be an interesting discussion. again, this is a pretty significant move, more than the dollar amounts mean. new york stock exchange, you know, getting involved with the, the ice getting involved in thi- neil: right. >> clearly a show of support. but, you know, who knows if it's, like i said, the wave of the future or a market top. back to you. neil: yeah, we shall see. charlie gasparino. i'm sure my next guests are interested in this, jordan wexler and -- [inaudible] can cofounders of early bird crypto. they're both kind enough to join us. gentlemen, jordan, to begin with you, what does this new york stock exchange parent sort of sniffing around crypto mean to you? >> thanks so much for having us. and, yeah, i think it really

continues to show that crypto and blockchain technology is really here to stay, and it is a transformative technology that is going to continue to influence so many industries that we are all part of. and it's so important that i think every american family is actually able to have access to invest in these digital assets so that they actually can have ownership in the future that they will be living in. neil: do you guys get worried about what's been going on? obviously, the whole market's been getting shellackedded here. gold has proven more of a hedge than certainly bitcoin has,s and i'm just wondering, caleb, if that boths or worries you with, maybe even panics you? >> i think you really have to -- again, thanks for having us, neil. i think you really have to think about who these investments for early bird are going to and the time horizon on which you're

investing in cryptocurrencies like bitcoin. so given early bird is focused on a child's community collectively investing in their future and not just in crypto, but in public markets and in a holistic managed portfolio and crypto being one of those asset classes, it allows for some exposure to risk in a way over a long-term time horizon that can be extremely beneficial for these kids and their financial futures and the broader families' understanding of risk and compounding interest over time. neil: you know, there are always a lot of people who are pooh-poohing this whole wave early on, others who took advantage of it and have become very rich. you guys are probably in that a latter camp, but i am wondering when you see efforts like miami dialing back its miami coin sort of like their cryptocurrency future, if you will. i talked to the mayor not too long ago, and he said, no, no,

no, these things take time. i'm a little disappoint, but what do you make of that and tell informationers who look at this -- investers who rook -- look at this, see the volatility of it? is the easy money gone? >> i think that, as you can see, there's going to be consistently ups and downs and dips, and this overall technology is being more widely adopted and we're figuring out how it all really plays into the current economy. i think that there will be a lot of changes and growth. we don't know which specific coin if it's bitcoin or etherium is going to completely win or take off, but what we believe is that it's important for the all- for all american families to be able to have exposure, to be able to invest in a multitude of these different cryptocurrencies so that their children will grow up in the world that they're already glueing up in, right? the alpha -- growing up in. the alpha general rawtion, native kids, and it's really

important that they actually have ownership of that as well. neil: i just want to, for young people particularly, because it did attract a lot of young investors -- not exclusively, i don't want to say that -- early on, you know? if they were really early on, they still made a lot of money, and there was the them temptation with stocks to sell off, lock in my profits now. so are we seeing anything like that among bitcoin, etherium, lithe coyne investors or? >> i think that overall we're seeing, you know, there's continued wide institutional adoption that is only continuing to scale up. and there's going to be a lot of movement in the market in crypto. but, again, the most important thing is -- if you're looking at next year or two or three years the need these investments as a quick win, it's definitely volatile and intraday volatility

can affect your investment, but you really are investing for the long run, we believe that digital assets in general are going to be here to stay and should be part of your overall portfolio. neil: caleb, real quickly, or long-term for me is breakfast on monday. so i'm curious what you make of investment horizon, people who get into this, what do you tell them? >> yeah. i mean, again, it's parents, it's aunts, it's uncles, it's grand parents, and they're thinking about the mistakes and the opportunities that they've had or may have missed or passed on. and how they would do things slightly differently for the next generation beyond them and the legacy that they want to live. i think we live in today a web 2 transitioning into web 3 world where web 3 really represents the opportunity for ownership. and so those that aren't familiar with blockchain

technology, those that are familiar with cryptocurrencies and investing, they're thinking about this not in terms of the gains today necessarily when they're thinking about their child's portfolio, they're thinking about ownership in the future and insuring that their child is set no matter what their relationship so -- to that child might be. >> yeah. and just quickly -- [inaudible] >> got it. gentlemen, thank you very much. caleb and jordan, the brains behind earlybier clip -- earlybird crypto here. market well off the lows here but, again, in and out of those session lows. these are levels at least for the dow we've not seen in, what, about half a year, little more. stay with us. finish

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>> mr. gorbachev, tear down this wall. [cheers and applause] neil: a couple of years later, that's exactly what happened. that wall went down between the old east germany and west germany. and to hear, at least, vladimir putin, that's when all the trouble began, the dissolving of the great soviet union that he seems to be hankering to return to with an invasion on the

ukraine looking fairly imminent. hopefully not. senior fellow at the american enterprise institute kind enough to give us his perspective. he musses those glory -- misses those glory days. that seems to be an understatement, hal. is taking ukraine going to be enough for him, do you think? >> putin has been very clear that he regarded the collapse of the soviet union as the great geopolitical tragedy of the 20th vently -- century. he was a kgb officer stationed in eastny as that country was collapsing, and if you look at his behavior over the past 15 years, it really does seem geared toward not necessarily putting the soviet union back together territorially, but regaining a lot of the influence russia lost. so i think his ambitions certainly go beyond eastern ukraine. we're seeing that from russian state tv today, and you can make a strong case that he regards much of the some former soviet

union as russia's rightful sphere of influence. neil: let's say he does invade ukraine. the fear is that, you know, he knox on if poland's door, goes to some of those other breakaway reapplication. does he? >> so if you have russian troops that are permanently stationed in belarus and you have russian troops that are occupying additional positions in ukraine, that really puts a lot of additional pressure on nato's eastern flank. poland in particular starts to feel very vulnerable because it has russian forces at more points on the compass than it did before and, of course, there is leningrad which is behind nato's front line. so certainly the fear would be that you would need a much more robust presence on nato's eastern flank to guarantee the security of those allies. neil: how is it that these sanctions aren't register thing or they're not impacting any of putin's decisions? >> well, it may simply be that

putin has priced in the costs of the sanctions, and so he may simply calculate that whatever costs the west can impose on him are less than the costs of allowing ukraine to develop as a democracy and to associate itself in one form or another with the west with. now, he may be wrong and he may be misreading the western response. it may be that he was surprised to see that the germans have decided to effectively put nord stream 2 on hold for the time being as a result of even a relatively modest incursion into eastern ukraine. and so he could be underestimating the west in this regard or. but my sense is that economic sanctions really don't move putin because they don't speak to the issues that motivate him most significantly. neil: all right. we'll watch it very, very closely. hal brands, senior fellow at the american enterprise institute. again, we're following these developments very closely. any hint that the russian leader

is going to hold back, it doesn't seem to be materializing. we have got this cyber attack, we've got a huge buildup along the border, we just don't know how many soldiers have have made it into these two provinces, these renegade regions that are backed by the russians at this point. we just know that so far vladimir putin ifen is not backing down -- putin is not back down. more after this. the path is gilded with the potential for rich returns. you're a one-man stitchwork master. but your staffing plan needs to go up a size. . . matching your job descripti. visit indeed.com/hire

♪. neil: all right. the selloff ensues on wall street because they don't

know what's going to happen. the dow is down initial 200 points that makes up about a percent. it gets very close now to correction territory itself. the s&p well in there. the nasdaq not too far from out right bear market, decline of 20% or so from its highs. so the worries go on but some hopeful, inspiring stuff seconds away, to charles payne with that ♪. charles: good afternoon. i'm charles payne. welcome to this special edition of "making money." "black history and achieving the dream ♪ when we initially discussed doing this show i was resistant in part because every day in america is black history, being made all the time. i felt also it was like pandering. the month is