on to be president of the united states? the choice was, two, eight, five or 11? give choices please. the answer is, it has got to be two. that's right. it is two. thomas jefferson and john adams. there you have it. all right it has been a busy day. my time is up, neil cavuto standing by to take over. sir, it is yours. neil: putin is not backing down, right? he is just doubling down here. just incredible. thank you, stuart, very, very much. we've been monitoring vladmir putin as well here. this comes on the heels of a phone call he had i think about an hour 1/2 ago with the emannuel macron of france. apparently it got very, very nasty with macron essentially saying you must cease and desist, stop all of this craziness and the message certainly being returned by vladmir putin was that this is what we must do. this is an achievement that

russia must stand by. that this is our right, essentially sending the message to macron, you know, why are we talking on the phone? the reality was vladmir putin called macron but be that as it may, if you have any doubt where he is coming from and where he stands on all of this don't have any doubts right now. he is still going strong here as his troops continue what might be a slow, a steady inexorable surrounding of the country and coastal cities. one of the biggest things we discovered right now besides taking a number of key ports, the strategy seems to be as much to take these ports and those coastal cities, for example in odessa, in bernask, another key seaport. not only is it a big strategic move but it prevents aid from coming in, a key strategy here is to do that. as he continues to encircle

essentially the entire country, the city of kherson as you know fell in the south. we're getting indications here that ukrainian president zelenskyy has already asked to personally meet with putin. that they should meet. i don't bite. what are you afraid of? peace negotiations will resume among lesser players. a defense minister on the russian side and a senior minister. that is all we're told on the ukrainian side but bottom line not much progress being made on the peace front as russian soldiers continue advances on a variety of fronts. so it is pretty fast, pretty hairy. go to the white house. the president holding a cabinet meeting hue to address this how to respond all of this, edward, what are you getting? reporter: interesting in the french phone call you mentioned with emannuel macron, the french official said there was nothing reassuring putin told macron. that was the official french readout. it does not look going forward

for negotiations happen being now. there will be in two hours a cabinet meet act white house, the fourth one the president will hold of a full cabinet meeting. the russian invasion will be a big topic. the administration is asking for an additional $10 billion saying this, to deliver additional, humanitarian, security, economic assistance in ukraine and the neighboring region in the coming days and week according to the acting it omb director, shayla young. administration calls for import ban of russian oil even though companies here have done that the president walking the line. listen. >> are you considering banning russian oil? president biden: nothing is off the table. reporter: there will be more sanctions coming today on russian oligarchs and the families. this will include banning travel to the u.s. we expect that later on today but nothing more on russian energy as the price of gas made the single largest

one-day jump since february 25th, 2011. a gallon of regular unleaded up seven cents night. republicans are pleading to reverse policy to allow the u.s. to produce natural gas and energy to lower prices and help our friends. >> i have nothing against solar panels and wind but you can't power today's 20th economy with those things. we have gas and oil and god blessed america. let's use it. reporter: democrat joe manchin saying the same thing. no policy change here from the white house. neil? neil: edward lawrence at the white house, overnight trading, oil rocketed 120 bucks a barrel, better than $116. of the brent did go over 120 bucks a barrel. bottom line it subsided this here. who looks at this a favorable development we're only $110 t

could go still higher because there is a theory russian oil will be officially off the markets across the globe. there are dark markets way to get around this. like willing eager customer for example in china. be that as it may, they will only go higher here. the options certainly for the administration considered, releasing oil from the strategic petroleum reserve has done little to dampen that. prices gone higher through that. i don't think joe petrosky says i told you so he is ready to say that now, quite furious on the administration on day one, shutting down keystone, taking away the advantage we were building to become a energy independent nation. joseph, good to see you. >> nice to be here. thank you for having me. neil: let's talk a little bit about the administration approach to, maybe our approach in general.

open up the reserve. that seems to have done nothing. 30 million barrels on our part. 30 million on the part of other cohorts within the international energy agency. it's done nothing. even talk as well about, just talk now, about lifting some taxes including the federal gas tax to make the pain at the pump a little more bearable, doesn't seem to be moving or doing anything. what do you think is going on? >> well, eliminating a 18-cent federal stocks to solve a five dollar commodity problem like cutting toenails of an elephant to make sure he loses weight. neil: that is actually a very, i will steal that one, joe. here is what i want to know, the administration has always argued, and goes after guys like you, say keystone was a bad precedent to set. the fact of the matter is, you know better than probably most energy trades on the global

markets. much like stocks do. so if they are concerned or traders are concerned this could be a sign of a retrenching in the united states when it comes to domestic production as it would seem to be oil prices move up. they did right after that first day move on the part of the president and they have in response here. so what do you make of it? >> well ironically the chinese are actually building oil stocks. i don't know if that if that -- what they think will be the future course of price and availability. i hope that doesn't mean they're preparing anything for taiwan but ironically they are building oil stocks which generally other nations do before they go into a military operation. now they are getting a 15-dollar discount to brent from the russians for that oil. so they're one of the few ones buying what is called the euro

grade quantity or quality which is russian grade. they're getting a 15-dollar a barrel discount to brent to take it and you know, they're excellent traders. that i will say about the chinese. generally know where markets are going and they're building stocks while we're reducing it in fact our reduction of exports or reducing our production actually drives up world oil prices which is why brent is going higher, which is how most u.s. gasoline is priced. so we're actually shooting ourselves in the foot. and energy, and another thing i want to point out about all commodities, it is not just the value of the commodity but it is the transportation. transporting by pipeline is $4 a barrel. transporting from ocean vessels, $15 a barrel. so it also almost five times

higher, certainly four times higher. intercoastal unfortunately because of the jones act which is a 100-year-old act we have to use u.s. flagged vessels because the maritime unions would not tolerate us using foreign-flagged vessels going port to port. but if you got oil, want to ship it to tampa from new orleans you have to u.s. a u.s. flagged vessel which is twice the cost of a foreign-flagged vest tell. we're doing nothing to address that. it is not only accessing the u.s. oil that's important but as we know, one of the security aspects of all commodities is to have redundancy and interconnection. the big techs sass power problem a few years ago was based in part because texas would refuse to connect their ercot system, energy reliability council of

texas which is their fred. neil: bottom line, we're tight for time, joe, bottom line you raised the point you see we're doing nothing to counter this, nothing beyond extracting some oil from the reserve is helping. you raise a very good point. joe, it is very good seeing. thank you for that. because you raised another issue that is affecting the price of a whole list of commodities. for that we will go to the sal, a ceo that follows commodity price movements very, very well. sal, you heard what joe was getting at. starts with oil. spreads to other areas. agricultural commodities in the case of ukraine. it is important agricultural country for rest of europe, called bread basket of europe. so is russia, counting more than half of exports of wheat to that region, both, both, if you think about it, are right now stymied and i'm just wondering how high these other prices go?

>> no one knows right now. wheat's up over $1.40 which is quite the limit in the outer months. it is amazing, the price rises we've seen. we're up 232% from the 2016 lows of wheat and we're up 153% since 2020 lows of only 18, 19 months ago. so we've got tremendous inflation. it is coming because of a supply side shock. the grains, you know are inelastic. people and animals have to eat. you have to use these things. you have to pay no matter what the cost. that is the issue right now. if you have 30% of global wheat exporting countries comes from russia and ukraine cut off right now that has a dramatic impact on prices. neil: play this out because you know this stuff with commodities in and out. a lot of people hear about that, neil, i heard you reporting on

wheat futures and soybean, soybean oil futures, what the heck does that mean to me? the simplest way i can describe it what is happening in those markets eventually catches up as the grocery are store. the pinch that consumers are feeling right now stands to get potentially a lot worse. what do you make of that? >> it absolutely does. unfortunately it will get a lot worse for poorest people in the world, poorest countries in the world dependent on wheat exports. as wheat prices go higher that has a ripple effect throughout the globe. corn prices are boeing higher. corn and wheat planted on same acre. we've seen cooking oils going through the roof. we see palm oil going up. we see all the soybean oil going up. all the cooking oils are going up. the poorest nations and the poorest people will have the bigger impact. you're going to see civil unrest in a lot of countries. the bread pry i don't think so what caused a lot of revolutions from the french revolution onward.

this is going to be no exception at all. we're, we are only six to eight weeks away from planting in russia and the ukraine. if the planting season is interrupted we have no idea what will happen to supplies. coming into this war supplies were already tight. this year was going to be the second consecutive year we use more wheat in the world than we grow. global wheat stocks are falling and this is really impactful if you affect implanting of wheat and corn in ukraine which we're only six weeks away. neil: knowing i was going to talk to you, sal, at one point here even if we resolve this ukranian situation, hopefully, peacefully, doesn't mean we'll open up our arms and doors to the russians, certainly to vladmir putin. so this, you know, price issue, inflation issue will last potentially way beyond ukraine, right? >> no question. it is going to last -- we had

predicted high grain prices, elevated grain prices from their norms would remain elevated through next year's south american harvest. we're just now harvesting in south america this year. we've already have one growing season. it looks like we'll extend to another growing season with historically elevated grain prices. remember, even if this war were to end tomorrow the hyperinflation we're causing in russia by destroying their currency is going to cause farmers who are very adept at this stuff around the world, they withhold crops as inflation hedge. russia will not want to export. they will want to export as little food as possible in order to keep peace in their own country, supplies in their own country. the supplies we lost from ukraine and russia are probably not coming back this year. at least the vast majority. neil: sal, i would like to say thank you for being on. i don't know thank you for that forecast. sal, thank you for stopping by.

we appreciate that. >> pleasure. neil: all right, we've been monitoring vladmir putin still talking right now. i'm sort of outlining why he is doing what he is doing. he said we will destroy this anti-russia created by the west. in other words saying it is the west's fault it has become what it has become. he says russia's military special operation is all going to plan. he apparently had a tense phone call with french leader emannuel macron. he called macron to check in, how things are going, get a sense of the western world and how it was reacting. it got extremely tense when macron said you have to stop this, yadi yada. didn't say yadi yada. apparently putin end the phone call with a simple statement, russia will achieve its goals. we'll have more after this.

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powering possibilities™. >> translator: ukraine if we don't exist, god forbid, then it will be latvia, lithuania, estonia, mole dove i can't, georgia, poland.

they will keep going until the berlin wall. neil: ukrainian president zelenskyy saying to the media about stopping, trying to stop vladmir putin and his russian advance now picking up some steam. he says if it fails there it will only be picked up in other places all around europe. it won't start in ukraine and end in ukraine. he held out the possibility he and mr. putin could meet. he is calling out to vladmir putin to do just that. i don't bite he says. what are you afraid of? so far know reaction from vladmir putin. separately telling his own people that this is a mission that russia must complete. that he has to counter western intransigence that created this crisis. that russia will achieve its goals. those were his final words to french president emannuel macron russian troops are still advancing in and letting the

world know they are there. what is the latest benjamin? reporter: neil, absolutely they're almost surrounding this city now. there is one way in, one way out. i came in earlier today. got a good look exactly how defenses are being built up around the city. back to the press conference about zelenskyy. it was typical zelenskyy. it defiant. continue to fighting for the country. there was a slight change today, he was calling for more help. it seemed a little more on the back foot. that is what we're seeing on the ground. we get reports about the attacks happening, the death toll, it is worse today than it has been in the past. putin appears to be taking off the gloves to a certain degree. up tick on attacks on urban centers and residential areas. uptick in the deaths of civilians. now many people had looked for putin to take his city. he did that today. it is quite significant. it's a city in the south of the country called kherson near

crimea, strategically important with a population of 280,000. what is key, very interesting, the mayor eventually let the russian forces in after russians effectively killed hundreds of civilians, they say about 300. when the russians came in, they gave an ultimatum to the people in the city, toe the line now, continue to live under the ukrainian flag but we'll be in charge. if you don't, came the warning to the mayor's office we'll raze the city to the ground. that is the message going out to this city and rest of the country. if the troops don't make their way in, bombardments will continue keep up. there was defiant scenes, in kherson, one man waved a ukrainian flag standing up in front of tanks. it feels, that the ability is slipping ask for no-fly zone and nato needs to realize it will spread ever closer to their borders.

so the night fall comes here. that is when we see attacks pick up. we don't know what we'll see tonight in kyiv. of course this has a big knock-on effect on the human toll and u.n. now saying that 1.1 million people have fled this country in the last eight days alone. numbers like that will surely destablize countries that surround ukraine. it is often been said putin is very good weaponizing migration. he is aware that will have a serious knock-on effect. a shift in tone from president zelenskyy one that seemed to suggest, that russians may have had early setbacks with logistics and supplies but they're learning. you heard from president putin they will not give up w the amount of forces they have in this country, highly likely they will chip away at ukrainian resistance and they will take more cities. neil? neil: thanks, benjamin.

be safe in ukraine. you heard what president zelenskyy in ukraine is saying, there is no let-up of the russian leader. he said i'm proud to be after multinational people of russia. that russians and ukrainians are one people. ukrainian forces took thousands of foreign citizens hostage, including students. ukrainians are disputing this of course. the bottom line between the messages you're getting, sentiment building out of russia they're not really changing anything. joe lieberman joins us former connecticut senator, former vice presidential candidate. senator, always good seeing you. thank you. i was noticing, senator, the more frightening words are coming from sergey lavrov, the russian foreign minister who obviously parrots whatever his boss is saying or demanding that he say, that we will continue the ukraine war until the end. this is the same guy who had looked at a "nuclear option,"

echoing a sentiment from his boss, of alerting russian nuclear personnel. this gets pretty scary here, but this is a whole another level crazy and scary, is it not? >> yeah. of course i think this is what lavrov and putin have been saying what they're saying including raising the specter of using nuclear weapons. i think they're playing with our heads, and the heads of the ukrainian people. they overreached on this one. the world responded with tough economic sanctions which really are hurting russia. we're helping the ukrainians who have been courageous but, honestly, on the ground, and in the air over ukraine, the russians are a much stronger force and the question now is,

in this really defining crisis,, i say defining, it will define how secure the world is in history, are we sitting back to not offer more help militarily to the ukrainians? because it is not just russia that may go on from here to other countries like georgia but the chinese are watching this carefully and if we let putin take ukraine, they're going to be tempted to go after taiwan. the same is true of the despots in iran and in north korea when they contemplate going after the neighbors. look, if it was up to me i would impose a nato no-fly zone over ukraine, at a minimum. i would move in some of our special forces covertly on the ground and nato special forces to work with the ukrainians

military to stop the russian advance. they're committing war crimes but that doesn't matter to putin but it should matter to us. neil: all right. locking down that that air zone requires the more with the united states around president said he will not do that because it will push us into world war iii. how do you handle that? >> no question there is a real practical problem. some nato countries would not be involved in this. neil, i'm thinking back to the early '90s when serbia particularly invaded bosnia and in my opinion began to commit genocide against the boss kneians and a group of, a quite

remarkable group i was privileged to be part of, led by bob dole, joe biden and john mccain and we kept pushing our government to get into it. finally president clinton did after a massacre at a place called trebniza. there is risk of that. serbia is not russia. russia is not serbia. russia is much stronger. anytime you let the thugs or the criminals have the advantage because you worry what could happen if you use your force, you're giving the bully the playground and a lot of people are going to get killed. that is exactly what's happening in ukraine today. so i know there are risks involved but i think this is a critical moment in world history that will say a lot about how safe, we and our kids are for the next generation or two. neil: you're right about that. joe lieberman, very good catching up with you. thank you for joining us, the former -- >> thank you, neil. all the best. neil: same here, my friend.

just to update you, again, this had been reported anecdotally that russia is indeed sending at least four amphibious assault ships to land troops near odessa, near one of the crucial seaports in the country. this would follow what russian marines pulled off a couple of days ago in taking control of berdansk, another key seaport. there is a method of all this, the black sea to the sea of azov, to get more port cities. to as much strike a blow to the ukrainians, as make it impossible for foreign aid to come in. we've got more after this.

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♪. neil: you know it is not only companies running away from vladmir putin. much of the sports world is too.

i'm talking about the global sports world. nate is here to go into that. nate, how are you? >> thank you for having me. you said it, russian athletes, vladmir putin himself and a russian oligarch are being impacted by the war in the world of sports. russian oligarch is selling the english premier league team chelsea because of the situation. says proceeds from the sale of club will go to a charity to help victims of the war in ukraine. a stunning reversal, russia and belarus athletes will not be allowed to compete in the paraolympics. ioc said they could compete but without a official flag. a russian player was beat in the first round of the tournament in mexico. she shays she will donate all the prize money she wins to the

ukrainian army. >> playing for me not just myself i'm playing for my country. i'm playing for the help of the ukrainian army and people in need. >> at least four champion boxers are a part of that ukrainian army. kyiv mayor vitali klitschko and his brother vladimir you see here are both heavyweight champions. here is vladimir speaking on his brother's instagram account. >> you need to act now to stop russian aggression with anything that you can have now, please, get into action now. don't wait. act now. stop this war. >> and they are not the only ones. fellow champion boxer are also fighting in this war, neil. neil: just amazing. nate, by the way i haven't had the chance to welcome to fox. so good to have you. a good thing, i just saw it

myself. nate, thank you very, very much. >> thank you so much. great to be here. neil: all right, nate looking for a lot more reports from him. go to nick sellers on some of the sports world response that nate outlined for us here. nate is the ceo of the world games. that is something similar. explain, nick what you've done besides just disinviting the russians. tell me exactly what is going on. >> yes, thank you, neil. it is good to be with you today. the world games is part of the international olympic committee. we're part of the olympic movement. it will be the first major international multisport event in the world with the full fan experience again in the july. we follow the lead of the international olympic committee. upon their recommendation, our governing body the world national games association just this week banned russian and bella russian athletes. these are some of the newest generation, fastest growing sports in the world. but we followed their lead because it is the right thing to

do at this moment in time. neil: when i saw the announcement, nick, these are games that take place in july. already now in march are you saying no matter how this concludes in ukraine the russians overstepped themselves and they're not welcome at a world sporting event? >> we are, neil and let me tell you why. the fact is that these are innocent athletes. these russian athletes have prepared for a long time for this moment. but so have the ukrainian athletes who are fighting for their freedom, for their country, frankly for their very lives at this moment. neil: so in following what formula one has done in auto racing and fifa, others on world soccer, tennis, i could go on and on and on, the russians are just persona non grata at any international sporting, entainment event. we've seen it with business events.

what would make you as a ceo of the world games change your mind and bring the russians back? would it be contingent on vladmir putin stepping down, getting kicked out, what? >> well, they have broken an olympic truce. this olympic truce has been around since ancient greece, and it remains in place through united nations charters. that is safety during times of international sports. and candidly, neil, it feels like we need to be all taking a back seat to this moment in time, this russian war which is go getting frankly more more treacherous by the day and i would tell, hopefully these negotiators this, if they were listening, especially the russian negotiators, put all the noise outside of the room. focus on your own humanity and our counterparts in this moment. keep your own families front of mind and do what is right and that is to build a bridge to

peace. these off-ramps feel like they're getting more and more limited for that. you can be heroes if for nobody else to your own families by building a relationship and building a bridge to peace. if we can get there i'm confident by world games 2022, birmingham alabama can be a great place of unity and global feats again. neil: very well-said, nick sellers. world games still on for july but without the russians. speaking of russians, we're learning more how vladmir putin is thinking as we go into day eight of this crisis. a special military operation is going according to plan. everything is hunky-dory. claims that despite many analysts suggesting that the invasion has not gone to plan that we are picking up more ground and achieving far more than most people essentially give us credit for, i'm paraphrasing here. this is a quick russian

translation. he also said that the ukrainian forces are the ones taking thousands of foreign citizens hostage and that we must destroy this anti-russia created by the west. the ukrainians have disputed all of that. more after this. wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq yeah... oh. don't worry i got it! since i left for college, my dad has gotten back into some of his old hobbies. and now he's taking trulicity, and it looks like he's gotten into some new healthier habits, too. what changes are you making for your type 2 diabetes?

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neil: it is now considered a refugee crisis, more than one million ukrainians have fled that country. most of them ending up at least initially in poland. that are is where you find our connell mcshane keeping track of all of this. hey, connell. reporter: neil, at least initially the key part of that sentence as you point out, because what happens here, this particular makeshift refugee camp where we have been the last couple days, people arrive on the buses. in fact they're coming in at probably the busiest pace we've seen all day long in the last 15, 20 minutes. there have been four or five

buses that pulled up. mostly women and children coming in from ukraine and they get off of a bus here. then they will get in out of the cold, go inside. tell one of the volunteers where they want to go next. let me show you video where it is inside. families lined up for a couple of hours. they get buses organized. while that is happening, we had a chance to speak with many, again, mostly women. every single one of them it seems wants to emphasize the people, family members, they're leaving behind in ukraine, take a listen. >> my husband stay in kyiv. >> stay in kyiv. reporter: your mothers too stayed. >> mothers stayed in kyiv. they are old women. they can't go here. reporter: are they safer? did you speak with them? >> now they are safe.

and but next we don't know. reporter: yeah. for now they're safe but we just don't know what will happen next. as we come back live here, these are the type of pictures, family like that, just arrived with the young children, now they will be on the move somewhere in europe. you came to me, neil, by saying the number, that has been the headline today, tops one million. about half a million, little more than that came to poland. we can't emphasize enough how that is really just the start of the it for the european continent dealing with the refugee challenge. so many other countries are already taking in these refugees. i know the united nations refugee agency said earlier today, unless there is an immediate resolution to the conflict in ukraine, this, these numbers are going to grow by a lot, by the millions. so we're just getting started here. neil? neil: incredible. connell, thank you very much. your reports have been riveting, my friend, be safe. connell mcshane on that. i want to go to tina houser. she is in a different situation. she is safe and sound here but

her son isn't, trapped in ukraine. tina thanks for joining us. have you heard anything? >> i have been speaking with my son this morning. he is safe for the moment and he is waiting to come home to us to get to poland and then come home to us. neil: what has been the problem for him getting out? obviously the sheer volume of people who want to do just that but what can you tell us? >> he doesn't have any transportation because most of his transportation was done by public transportation, taxis, buses and things like that. he has no means to get out besides trying to find ride with somebody. neil: what was he doing over there, tina, if i may ask? >> he moved over there to meet his future wife, who he married in january. and was english teacher, native

english teacher for the ukraines over there. neil: for americans leaving, or trying to leave, is there any special difficulty is it? is it a more involved process? as i mentioned 1.1 million or so have gotten out. i'm wondering if it is more difficult for americans to get out? >> it's a little bit harder for him. he left the city and has been trying to get out ever since. he is having difficult because they have no means of transportation. neil: just must be exasperating you for tina and your family. i hope everything works out. that he is able to get back home but getting the word out here, as we will continue to, i hope, is a small step in that direction. thank you very much. hang in there. >> all right, thank you. neil: tough time for people on both sides. whether you're stuck in the country or worried about a loved

one who is. we'll keep you updated on all those cases. meantime remember the peace talks that would continue today, to pick up where they kind of left off without much progress a few days ago? well they're done. they ended with no agreement, to give you a official explanation from the talks. second round of negotiations is over. unfortunately the results ukraine needs are not yet available. there is only solution for the organization of humanitarian corridors. we'll keep you posted. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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♪. neil: all right. we were telling you the last couple of days prior to today, crypto and related investments have been spiking up, largely because of the craziness going on in ukraine. now there are a couple of ways you play that as alternative to what so going on in stocks. or, how the russians could use it as a means of, well, playing this and going around sanctions. it gets a little complicated but fortunately luke lloyd is all over complicated and how to explain it in english so it gets through my thick skull. >> good to see you, neil. neil: strategic wealth partners ceo. good to see you, nick. how does the russian situation with ukraine affecting crypto

and particularly what vladmir putin wants to do? >> it is greatly impacting it, neil. a lot of people are saying that russia is kind of out of options because governments around the world are looking to sanction cryptocurrency but russia actually isn't out of options, because governments can't really control or sanction cryptocurrency unless transactions go through with one of the online endings exchanges coinbase. russia will do crypto off-line or hold currency on hard drives or usb device. nobody is talking about that which really surprises me. i would suspect they bought crypto as a hedge before they attacked ukraine. russia knew sanctions would come and the currency would tank and i think they are a couple steps ahead. that is one fear for cryptocurrency and why i'm staying away. governments still has or accumulate a ton of crypto to hedge the assets. the only other option

governments have to try to decrease the value of crypto, implementing stricter regulations around crypto or banning it all together to decrease the value of crypto to give russia no options. neil: i do think you're right, luke. he was preparing for this at least a year ago. some say years when he was trying to you know, get russian spending under control, hack away at the debt, obviously saw this day coming. he is not an idiot, but would make perfect sense he was shoring up you know, some cryptocurrencies here. so but you're fear is, that would not show up in pricing on a day-to-day basis but what if he bought a lot of it? could it offset your fears of regulation if it means that it is building up demand, even in the most nefarious of ways? >> no, it couldn't, because i think they already did it, neil. on the other side as well, you got governments around the world wanting to strengthen america's and europe's currency, u.s. dollar, euro, the pound which is

even more important when you have a superpower russia knocking on everyone's door. i'm slamming my hands on the table that i want to buy bitcoin when it gets lower, 15, 20,000-dollar range. i think i will get the price soon. if the stock market scare you right now the last place you should be is crypto. cryptocurrency is a risk on asset class, when market gets ugly, tensions are high which we see now, people want safer investments which is crypto. neil: thinking on that, i never put two and two together. you could be right. luke lloyd, strategic partners investment strategist. >> thanks, neil. neil: with vladmir putin buying this up like crazy. now the fear is the world sees that, pounces on that, regulates away on that, and for crypto that could be bad. that is a little bit overstated but could explain some of bumpy ride we're seeing.

we have new reports of attacks on coastal cities. how russian troops are trying to encircle the country. we'll have more after this. this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise.

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barrel, had a gotten as high as north of $116 overnight, brent, all on the notion here no matter how much supply western nations open up to the world tapping strategic petroleum reserves, it is not getting a dent as far as the demand for oil, especially with so much russian oil likely to come off. supply and demand, and there you go. jeff flock following all of this and the implications for us, because a lot of it's sounding like a little déjà vu, my friend. [laughter] >> reporter: '70s, anyone? yeah, there you go. hope we don't have gas lines. yeah. you talked about oil. it's off the highs, and they say it's because we're potentially close to a nuclear deal with iran which would free up a lot of iranian oil. at an intersection in philadelphia, i've got three gas stations. this is the conoco across the street.

$409 now -- 4.09, a gallon of regular x. right where i'm standing, this is the speedway. they just cranked it up, it was $3.99 to 4.19. so it went up 20 cents in the last hour. across the street this way, shell station. they just cranked it up from 3.899 to 4.05. so you've got three stations, you could hit a rock with all three of them in one spot, and they all have three different prices for gasoline. crazy. if you look at the national average, in philadelphia here, the national average up 7 cents in the last day, up 4 cents the day before that. and, you know, at home you may have an even bigger increase. same thing with diesel, by the way. and you know, neil if, diesel is just as important as gasoline we put into our tanks for our cars because this underpins everything that we pie in the -- buy in the country, most of it delivered by truck. what's a country to do? well, mike summers, the president of the api, american

petroleum institute, says he knows. here's what he told us. >> first of all, we need a message from the federal government that they want us to be producing more, and that comes in the form of regulatory stability. second, we media a renewed -- we need a renewed focus on energy infrastructure in this country. third, we need to lift the moratorium on development on offshore waters and onion shore federal leases -- on on shore federal leases. >> reporter: neil, i want to leave you with at least one positive note, the baker hughes rig count, they now report that as of last week 650 rigs in use, oil and gas riggings in the united states. that's up 5 in the last week and up almost 250 in the last year. so u.s. production coming back on, but, you know, you need every drop almost that you can get right now to make up for what is coming off if from russia.

neil: that's a very good point. you're right about that. jeff, thank you very much. jeff flock following the gas price runup. well, obviously, this is the backdrop for a federal reserve that's gathering in less than two weeks and likely, in fact, the chairman has said he will raise interest rates. so there is a concern right now is that enough in the face of what could be energy prices soaring, agricultural commodities, related commodities soaring even faster. could he risk falling behind the curb. dan geltrude joining us, rob luna as well, both expert reads on this market. dan geltrude, to you on the quarter-point hike we think we see coming from jerome powell. i think he's all but announced it. what do you think of that? is it enough? >> it's certainly not enough, neil. all the signs of what's going on in the economy right now is inflation. not only is it here to stay for a while, it's going to keep

increasing. we're looking at the price at the pump, for example, it's up 7 cents just today, again, with no sign that it won't continue to rise. everything in this country going from point a to point b is going to be using fuel. that means prices are going to continue to go up. a quarter point from the fed is going to do exactly nothing. jerome powell, now that he's been reappointed and he doesn't have to tiptoe around that issue, really needs to get a little bit gutsy here and at least go half a point and probably continue to raise from there. neil: you know, the flipside of that argument, rob, and i've heard dan talking, quite the consensus, you've got to be aggressive. but in this situation here, do you want to bring on the stag part of stagflation? we have an underlying strong economy, aggressive rate hikes are warranted in the face of

these rising price, but they could tip us over the edge, couldn't they many. >> yeah, no, i completely agree with you. dan brings up some really good points, but if you look at real wage growth actually since the stimulus ends, charles payne pointed this out recently, it's not really growing. and then you add inflation, the consumer is being strapped right now, neil. so is i think the fed, they're way behind the curve. the question now is it too late -- too little, too late. the 10-year starting to pull back, ped funds futures thought we were going 75-100, i think we're going 25. i think 50 is the right move if, i think anything less than that is going to be too little at this point. neil: you know, i just wonder, gentlemen, and, dan, i'll begin with you, if we're going to see a sort of two different worlds on rates. for example, shorter term rates kind of being where they are, longer term rates backing up a little bit. and i wonder if all of this

happens on the same day we get word that 30-year mortgages are back under 3.9%, i believe 3.87 for a 30-year fixed rate. i only mention that because some of the backup and the concern about what's going on in ukraine prompted a flight to quality, if you will, so that all of a sudden, you know, that was driving down interest rates to the point where people who might be looking for a home have a chance to see favorable rates or refinance the home they're already in. i don't know whether that will happen, dan, but how do you play this? >> you know, neil, the -- [laughter] you have low mortgage rates, people automatically think, well, this is a great opportunity in the real estate market. it might be, but it's not guaranteed because when you have those rates coming down for mortgages, what happens is that the price of real estate goes up. all of real estate

s -- pressures are driven -- purchases are driven by the monthly cost. and the mortgage rate is kind of what brings that in balance. so as long oz mortgage rates stay hoe, the price of real estate is going to stay high and, to me, that is the most dangerous time to buy real estate. it is better to have higher rates and lower pricing. neil: but then again, you're pretty cheap, right, dan? kidding, kidding, kidding. >> like you say. [laughter] neil: you're a are good accountant. rob, let me offer one of the bullish arguments here, and this is sort of like a big macro view, that we've seen that the u.s. remains a haven. our bonds, our real estate has gotten to have have been popular, certainly, even among former oligarchs. that will continue after ukraine no matter how it ends, because there's a new world financial

order where the u.s., which for a while was getting to be like a rodney dangerfield, not getting the respect it deserved, but noo do with politics -- this crisis reminds us that the remains a draw and will continuing to being more of one in the months and years ahead. do you buy that in. >> of course i buy that. we are that shining beacon, neil. you look at around the world right now when it's china, russia, everybody is trying to get their money out of the country and in here. and let's keep in mind the fed can only control short-term interest rates. so as you alluded to, that demand that's coming in here even if the fed wants that to happen, they run the risk of inverting the yield curve, and that gives us a higher probability of going into recession. to the point that dan was making, look, the real estate market -- there's a lot of new entrants in here also, let's remember are, dan. blackstone, kkr, you look at places like phoenix, they are

bidding for single-family residents against some of the home buyers out there. of you have a huge amount of new buyers, a lack of supply, low interest rates. i think, personally, the real estate market continues to go up, and i think once this is all said and done you're going to see a massive rally in the if stock the market especially in some of those areas that have gotten hit like technology. neil: interesting. our final word on that. rob, i want to thank you. dan, thank you. and the joke is on danny, he's actually one of the most generous people i know. he just doesn't like it when the government starts spending your money like crazy. thank you very much. i want to go to bill hemmer right now, he's everywhere, as you know. there's no one better at this particular art form, following on a map exactly what's going on in ukraine. bill, thanks for joining us. what can you tell us? >> it's kind of like looking through a straw, neil, to be honest with you. we're trying to pick up various reports on the ground and inside of ukraine, the pentagon, senior

defense officials trying to put together a story for what's happening here. neil, here's what i will tell you, is that the russian army, although this past week it had several setbacks, is on a slow, steady, deliberate march through ukraine, okay? a lot of the action has been down here in the south. not to disregard what's happening in kyiv and to the east, kharkiv, etc. but really when we woke up this morning just going through the headlines trying to piecing together the story, this is where the russian military is now on the move. now, they've had cry me what for eight years, okay? when they came out of crimea some eight days ago, very little resistant -- resistance here. and this town, melitopol, it fell quickly. not very populated. nonetheless, it went down. neil, here's what seems to be the case. it seems to be the case that the area of donbas here that's really been controlled by the russians in the past eight

years, that's where the majority of the ukrainian army had been established, dug in, ready to face another front against the russian army. you can understand why that would be, okay? so this is mare -- mariupol, there's been significant fighting for the past three days. there hasn't been a lot of images or video owe out of that town, but queue cranes are trying to hold off the -- ukrainians are trying to hold off the russian military, but they're been surrounded and bombarded from the sea and also from land. however, when you move further west, it's a little more difficult to assess. kherson, apparently a town of about 300,000, neil, the mayor confirms that it's fallen to russian portions. our defense officials don't confirm that, but the mayor has said that. this there's been very little reporting about a pushback on behalf of the ukrainian army, and why would that be? if in all likelihood it's because the ukrainian army was

in the wrong place when this happened. again, they're largely in the donbas region. what is the objective now on behalf of the russians? they want to go after odesa. they're definitely making a move forward it -- toward it. and what you would get is what's been talked about, this land bridge, neil, that would cover areas that the russian army already holds prior to the invasion eight days ago. kherson would be there eventually perhaps in a few days, odesa might be the next city that's surrounded. and if there's not a surrender in place on behalf of the ukrainian people, there would be a night over odesa. neil, i think you have been showing this video perhaps of the ukrainian people, and these are affiliates now. they get out in the street, they stand in front of tanks and armored personnel carriers, ask they try to stop the farred forward march of the russian -- forward march of the russian military. there is a nuclear plant here in

the town of enerho da r, and you are see the video, there are thousands of ukrainians in that street. and they're trying to affect the advance of the russian military. we'll see in time whether or not they are effective in doing that. i just pop up here to the north, this is our understanding. we believe this convoy has been stalled for the most part, not to suggest that it's not inching forward, but the convoy is about 16 miles outside the capital city of kyiv. so let's say it's right in this area here. we believe, based on putin's comments earlier today in moscow, that his objective is to still take the capital city of kyiv. and senior defense officials also would con firm that they believe that's the case as well, and they think they would largely circle the city of kyiv. and if that happens, neil, all the bombardment that you're watching on these rockets and missiles that are fired on these

cities, that would happen in the capital city also. the difference is i showed you a moment ago all the cities in the south, they have a fraction of the population. 3 million people. and if you've got a million refugees already, how much higher does that number go? but the convoy has not much advanced, and the outline that we have here in red, we still believe, we're still confident that that that is as far as the russian army has gone. so that's what we believe at the moment is the state of play in this war. neil: just amazing, bill. you know, i don't want to sound like i'm with this black helicopter crowd that suspects a held fake here, but so much attention has been on this 40-mile caravan of russian tanks largely in the north, as you pointed out, that we lose sight of the fact that with kherson going down, the russians control a good deal of the south. so there is a strategy here, it's a ruthless strategy that maybe we're not grasping. so you certainly pointed it out

there. but maybe, maybe we're so tied up in this convoy, we're missing the bigger picture. >> and the bigger picture is what we began with. it is slow, it is steady, it is deliberate. and maybe, neil, a month from now we're talking and we're thinking -- you could see in the happening. neil: yeah. >> you can see that putin, being the ruthless leader that he is, you know, the way he acted in chechnya 20 years ago, the same thing's happening now. but the difference though, neil, is there were no cameras in chechnya. we didn't see that. we've got it 24/7 now, and it doesn't seem to deter him. not yet. neil: yeah. i always wonder with these people trying to stop these tanks or vehicles, we all remember tiananmen square. there was no video of that, what happened afterwards to that guy who was standing in front of the the tank because there was very little that came from there. do wonder what's really going on

here. bill, that was riveting. >> okay. neil: a good overview. thank you, my friend. >> you betment good to be with you. neil: thank you. bill hemmer. want to go to congressman brian mast of florida, house foreign affairs committee, served his country nobly and bravely. congressman, what did you think of what bill was pointing out there, that obviously vladimir putin has not been deterred, he mentioned the west and its love and fondness for president zelenskyy. he didn't say it in so many words, but he did say at at the end of a phone wall with emmanuel macron, russia will achieve its goal. end of statement. what do you make of that? >> i think you look at everything that bill just laid out there, and the world should realize putin's, putin's desires do not end with just saying we're not going to how ukraine to become a nato country. his commitment is total.

he's not going to back off for anything whatsoever. and people keep talking about the timetable on this. realize that his timetable doesn't look like sick weeks or six months -- six weeks or six month, it's probably probably well beyond six years. he's been patient enough to act in crimea, wait during the trump administration largely and then act again now. there's a longer term commitment if at play here, and i think if we look at warfare, we should all be asking another question about warfare because of putin raising his nuclear posture in various ways and the world reacting whenever he says i'll consider that an act of war -- assuming that he now means a nuclear act of war if he's threatening somebody outside of ukraine. what is economic warfare? economic warfare, that is a form of warfare just like cyber warfare, just like the kinetic warfare we see playing out many

in ukraine right now. so what is going to be the reaction from the world? because putin is playing this out not just in ukraine, but how will he react to western europe and the west over the economic warfare that we're doing not just with gas prices, but he has substantial cyber capabilities. what will we do went he responds in that way? will we act key net create? will we knock out a satellite? what will be the responses because he's assessing the kind of warfare we are waging on him. neil: very quickly, congressman, your thoughts on sanctions against russia, particularly putin. do they go away after he goes away? if in other words, if he is toppinged or resign or -- toppled or resigns or whatever and the ukraine situation is over, do you keep those on if he stays in power? >> we're sanctioning him, number one, with our hands tied behind our back. it'd be like sanctioning a farmer without sanctioning their crops. that's what's going on by not sanctioning his energy in

totality. it goes beyond vladimir putin needing to be off the world stage because of this and their nuclear postureing politically and with energy. they need to, the world needs to ban nuclear demilitarization. because of his invasion of ukraine, the world needs to demand a demilitarizedded zone along their borders, because of their long-term goals, the world needs to demand surrender and retreat from the ukraine and the return of crimea. i realize those are very lofty goals, but that needs to be the world demand for the sake of the world in the future. neil: which is all saying those sanctions are going to stick around a while. congressman, thank you again. very good having you. >> all the best. neil: all right. the dow up about 108 points right now. there might have been some progress on those peak talks on -- peace talks in a very limitedded area. i'm going to tell you about it after this.

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>> freedom is never more than one generation away from extinction. we didn't pass it on to our children in the bloodstream. the only way they could inherit the freedom we have known is if we fight for it, protect it, defend it and then hand it to them with the well-taught lessons of how they in their lifetime must do the same. neil: long before he became

president, ronald reagan was echoing the concern about, well, getting a little too passe about the threat of communism, what have you. we're reliving all of that today. scott walker, the former republican governor of the beautiful state of wisconsin, young americas foundation president, good enough to join us now. governor, always great seeing you. that is a timely message, right? don't take it for granted, don't get too complacent. it's always a reminder, isn't it? >> it really is. in fact, i was looking at one of, one of the old radio addresses ronald reagan did in 1978, about this time, february 20th, 1978. he actually talked about getting a note from a ukrainian citizen in the united states who talked about how during the communist occupation they forced hem to change the words to some of their christmas carols to represent communism, but they included some of the unspoken or unprinted words that they say were talking about restoring freedom to their mother ukraine. and he ended that broadcast

saying i hope their prayer is answered, and that's a prayer we need answered today as well. neil: you know, there's an argument back and forth whether vladimir putin underestimated the resolve of the west, but i'm wondering whether we are underestimating his resolve to finish this. and no matter how brutal it gets. he has already apparently told emmanuel macron that russia will achieve its goals. it was apparently a nasty, pretty intense phone call here. and he initiated with emmanuel macron. so clearly, as he later did in a radio address, that they're give ugh up -- giving up nothing, and this is all a cabal of the west. do you think that is registering with people back home in russia, that vladimir putin still has their support? >> well, i think this is the sign of a ruthless dictator, and, again, go back to ronald reagan. he understood that leaders like

putin and years, decades before lenin, their adage was to probe with bayonets. you find steel, you stop. i think even though the ukrainian resistance has been some of that steel that might have otherwise made him stop, the reality is when you look around the world the last year or so particularly in afghanistan, he saw a lot of mush with the surrender. think of all the military equipment that could have been taken from bagram and given to the ukrainian resistance to push back, but yet he saw around the world that leaders like biden and others really didn't seem to have the resolve to take someone like him on. i hope he's wrong. former secretary of defense gates said that not only putin, but xi jinping was looking at our weakness in america, and that was going to drive their aggression. i hope they realize the american people are not weak. the current commander in chief might be, but the people are not weak. and i think those of us who stand for freedom support it not only here in america, but around the world, and we're to push

back. neil: does pushback mean if military interventionsome. >> well, a lot of it -- i actually mentioned at one of the debates before the debate you sponsored, i remember august of 2015 the fist de-- first debate sponsored by fox, i said we needed to be aggressive and create the deterrent. reagan won the cold war without ever firing a shot, why? because he believed in peace through strength. we probably should have reinstated the missile defense system that was this place in poland and the czech republic, we should have worked with nato to put more forces on those eastern borders touching russia. right now we can't undo that, but we can show resolve in terms of putting additional resources there. and for goodness sakes, as the congress mentioned, why would we be talking about sanctions without sanctioning the oil and natural gas supply? i mean, this is, again, like afghanistan, we kind of stumbled into this. he didn't even have the swift sanctions to ready -- ready to

deal with their financial institutions. not just in america, but to push back and provide assistance not just to ukraine, but for that entire region and the world. we can do that without having to send our troops in. neil: all right. we'll watch, see what happens. governor, always good seeing you. thank you very, very much. >> thank you, neil. neil all right. the governor was alluding to just keeping an eye on the russians ask and what we have to do. we've talked about these peace talks today that broke down again, but not without something that ukraine wanted. wire services are reporting right now including they say that ukraine has reached a tentative agreement with russia to at least organize safe corridors for those trying to evacuate and leave the country. and provide humanitarian supplies that they could be safely delivered. we're told that the russians agreed to that. we don't know much more than that. but as for the ongoing military sanctions, no progress on that front. stay with us.

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♪ neil: all right, we've heard of tons of companies that are abandoning russia, now a crackdown on those companies that are not, at least not yet. charlie gasparino on all of that. hey, charlie. >> you know, obviously, the ukraine-russia conflict has upended geopolitics. it's also upended wall street in bizarre and interesting ways, particularly for you, the average investor. of if you're in any type of emerging market fund with exposure to russia, you're getting hammered right now. the firms that are manageing these, this money, like anybody, any mutual funds, blackrock, the big etf provider and the biggest money manager in the world, you name it, they're scrambling to figure out how to soften the blow on their investments as they try to unload russian assets because these bans are basically kicking

in, and everybody wants out of russia right now as this war escalates. and that is the human toll of women and children start to escalate too. vladimir putin has a made no -- he's basically taken out the innocents here, and wall street wants nothing to do with anything russian right now. here's what we know: top money managers are beginning to remove russian securities from indices. but at the same time, when you take them out of the indices, these investments become illiquid. so what some of the big money manager firms are also doing is they're lobbying the sec maybe to give them some time to unload these securities, you have to mark them down to zero and you'd crush the portfolio. they're trying to get the sec to sort of loosen up how they can unwind these investments, that they don't have to do it immediately, overnight, that they can take some time. the fascinating thing about this, and there's great reporting, is that this presents a huge conflict of interest for

the sec. gary gensler, if you look at his latest financial disclosures, has a lot of money in in e an emerging market fund with exposure to russia. so theoretically, he would be helping his own portfolio, and that's a huge conflict of interest. i'm not saying it's a crime, i'm not saying it's a scandal, but it's clearly a conflict of interest. i don't understand why gary gensler didn't put that investment in some sort of a blind trust, but he didn't and, you know, he owes that. and if he does acquiesce to what the big money managers say, or he's going to be putting a few bucks in his pocket too, helping himself. that said, this is a mad scramble to figure out what to do here. and here's the other thing you're hearing a lot, neil. for the last two years esg, environmental, social, government investing has been all the rage. we have pointed out on your show in particular and liz clay liz claman's show as well that there's at lot of hypocrisy here.

if you don't have the right, if you don't have perfect diversify, the -- diversity, if you're not trying to move your carbon footprint to zero, these screens could hurt you and, you know, big money managers might not invest in your stock. these screens never took into account whether foreign companies that are run by december9 pots like putin, like -- despots, like putin, like china never really took that into account. esg, you can still invest in chinese companies. here's the thing, e is sg is now reevaluating its standards because, guess what? for the last 10 years or however long putin's been in power, they've allowed russian companies to bypass those standards, and now they are paying the price. what we have now is not more diversity, we have worries of a engenocide going on in the ukraine. it really is a bizarre situation involving esg investing, neil. back to you. neil: that is wild. charlie, you're the best. charlie gasparino following stuff that, you know, the other guys just miss.

he just digs a little deeper. reaction to all of this, dan geltrude and rob luna back with us. rob, with all these actions being taken against rush sharks against vladimir putin, you know, to isolate them, the impact on those companies i would imagine is relatively small. i don't know how many vehicles gm sells in russia, or for that matter ford or how many iphones, certainly, are sold there for tim cook to make this move. but i would imagine if you did the same with china, it would be a very different deal. what do you think of it? >> yeah. i mean, look, when you look at it as you're saying, neil, i mean, the size of the russian economy in general is actually smaller than new york itself, so it's not big. what we're looking at really is oil. they're putting out 7.5 million barrels a day. we're talking about releasing 60 million from the if strategic reserves? that's not going to move the needle. i think u.s. companies that are

doing business there, as you mentioned, very, very small exposure. what's sad though, neil, is the small businesses in russia. these people are not responsible for this madman and what he's doing. my wife, who's from the area, was talking to a business owner. he normally buys these workout outfits for $80, and she's acing, you know -- say, you know, they're now $14. you're not going to get the money. these people are going out of business. it's completely an atrocity, what's happening to the people in ukraine. but when you look at it from a larger perspective in terms of the market, our investments here, unfortunately, it's not going to, you know, be what changes things very much. i wouldn't be too worried about it even in the em funds. a lot of those have very, very small exposure to russia. neil thoal you know, it's interesting, dan, when you think about it, that exposure certainly to russia not like it is with china, but i wonder if it's giving china pause about

any more provocative action with regards to taiwan or these military exercises in the south china sea, that, you know, they might be sort of reading the room, so to speak, and that, you know, in a weird way -- and i know this is just my twisted thinking, it could prompt them to behave a little more, you know what i mean? not that we're a direct threat here, but they see what's going on, the world condemnation, the economic, you know, retaliation that, you know, i think rob was sort of spelling out that's minimal by comparison and thinking, you know, we don't want to go there. what do you think? >> well, let's hope they're thinking that way, neil, because certainly nobody wants to see military conflict. and i don't really believe that china wants that. china is clearly looking for world dominance, but they're on a path of economic world dominance. so anything that's going to interfere with that is, quite

frankly, not good for business. so i do think that they're monitoring things very, very carefully, and they certainly don't want to disrupt their economic path. however, if china really feels the need that they need to take over a country like taiwan, they'll do it, and they're going to look to see what the model was related to russia and what the fallout is going to be, and then they'll have an understanding of what they're up against. neil: gentlemen, i want to thank you. we do have some breaking news i want to pass along, we're getting comments of volodymyr zelenskyy, essentially a pretty dire appeal for help as russian attacks seem to be picking up and making some steam in the country. quoting here: the end of the world has arrived. zelenskyy was in a televised news conference motion moments ago, he appealed to western leaders who have resisted calls

to set up a no-fly zone over ukraine. president biden is is opposed to this saying that it could potentially set the stage for a much broader conflict. but quoting from mr. zelenskyy, if you do not have the power to close the skies, then give me planes. we'll have more after this. we hit the bike trails every weekend shinges doesn't care. i grow all my own vegetables shingles doesn't care. we've still got the best moves you've ever seen

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♪ neil: all right, there's going to be a third, you know, peace talk going on next week, we're told. again, on the border with belarus. that's all we know as today's ended in largely nothing getting done to save a guarantee on both sides safe passage for those who want to leaf the -- leave the country and providing a means to do so. hillary vaughn is, meanwhile, on capitol hill on how the president wants to prevent any scams from going on or criminals from taking advantage of, well, relief. hillary, what's the latest? >> reporter: hey, neil.

republican senators on capitol hill do not want to back $30 billion more in covid leaf as the president wants until there's a full accounting of where the $6 trillion went because fraud with that has been a big problem. the white house for a year has said covid fraud is one of the biggest oversight challenges that they face. so now the president this week is finally doing something about it. >> under my administration the watchdogs are back. [applause] and we're going to go after criminals who stole billions of relief money meant for small business and millions of americans: >> reporter: the problem is so bad the white house says 19% of pandemic unemployment checks were paid improperly. nearly $80 billion in taxpayer cash falling into the wrong hands just last year. but scammers frequently use stolen identities to get access to relief that they are not eligible for. the office of inspector general says the small business administration flagged over

845,000 relief applications for identity theft, but they still cut the checks to the applicants anyway. i talked with the top republican on the house ways and means committee, kevin brady. he tells me it's too little, too late to stop the fraud, and he doubts that biden will get any of the money back. >> -- to stop it, including preventing it at the outset. so i'm pretty skeptical. i don't know what their success will be. recovering that money, i guarantee you, will be zero. >> reporter: and in some cases the states are giving up, neil, on getting this money back. the doj sent out guidance and basically said they don't need to worry about trying to get some of this cash back if it was an accidental overpayment to someone and it was not outright fraud. neil? neil: you know, the bigger the package, the more you see this type of stuff. just amazing. hillary, thank you very much. hillary vaughn. dow up 46 points right now.

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on comcast business mobile and for a limited time save up to $750 on a new samsung device with eligible trade-in. ♪ neil: all right. catching this defiant tone out of vladimir putin reacting to criticism of this ongoing war in ukraine, and immediately i said, man, i've got to talk to claudia rosett who was on to this guy, i

think, before anyone. former "wall street journal" moscow bureau chief, much, much more. you probably heard some of what he was saying, that russia's the victim here, that the ukraine is part of a western cabal against russia. he said that our servicemen, referring to the russian servicemen if, have provided humanitarian corridors for civilians to flee, that they've been blocked by ukrainian nationalists, that this is the right thing to do. furthermore saying at the end of it, a tense phone call with e man emmanuel -- emmanuel macron, russia will achieve its goals. what do you think of that? >> i would be very concerned because putin is laying out the propaganda narrative that right now is, obviously, ridiculous. but remember, he plays a long game. china plays a long game. our politics tend to play a very short game, and if you look at a whole series of atrocious things russia has done, they sort of think below the iowas what. now, this is -- below the waist. from using nerve agent in

britain to kill former soviet citizens, from what happened in chechnya and what we just saw, basically, these things tend to fade. right now it's all over television. but unless the biden administration steps up to really consolidate what we're seeing now, the wakening of nato, and especially just drops this idea that they can somehow play russia and china off against each other, we immediate to be strengthening ourselves right now -- we need to be strength strengthening ourselves. putin knows it. he can put out endless spin on everything. nobody in his country can check it -- neil: does it work with his own people? they might not be learning must have -- much, but they're certainly feeling it. long cash lines if their bank's even open, their savings, if

they had them, have been shot to you know what given the collapse of the ruble. they can't be liking this or overwhelmingly supporting it. >> no, they can't with liking this, and they're certainly feeling it. but, again, this is early, early days, neil, and we have yet to see what could kick in with china greatly mitigating some of this. we are, you know, the sanctions that are now being put on russia, sanctions tend to erode. there's tremendous pressure especially when it's a gas and oil producing country for the u.s. to start waiving things, for the u.s. to start looking the other way. if russia resorts to china, as i think the deals have already been cut, to help with, the u.s. has always been very afraid of putting massive sanctions on china. it's just so big, it would be painifful here too. -- painful here too. yes, the russian people are feeling it. we need a lot more hard information on what's going on in russia because the big

problem is putin has an immense security pap -- apparatus. navalny, his opposition, is now in a prison. he has great ability to grind people down. if they succeed, if it becomes so bad that he's actually overthrown whether a palace coup, those things are difficult, or some uprising, great victory, but beware. i don't see that yet. neil: all right. claudia with, thank you very much. claudia rosett9 on to this guy and the threat of this guy. there was a brief period where everybody thought we should respect this guy. i don't think the world feels that way anymore. we have a lot more coming up, the dow up about 100 points. stay with us.

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neil: time for some really good perspective on everything going on. for that i turn to charles payne. hey, charles. charles: hey, neil. i'm charles payne. this is making money. embarrassed and defiant jay powell says the fed will engineer a soft landing as we quell inflation. a message that has flown under the radar, folks this will have huge i implications foreour livs beyond the stock market, can he pull it off. why back-to-back rallies are the ultimate buy signal. irans ma