lauren: georgia. >> i'm going with the birthday girl, georgia. stuart: the answer is -- oh, no, it's vermont. vermont didn't become a state though until 1799 1. 1791. watch this, we've got a student many if new jersey just made a sandwich inspired by this program. look at this, roll tape. >> ah. look at this. prosciutto, fried tomato, arugula on sourdough bread. this is going to be a special this month, it's going to call the varney and co., enjoy. stuart: how about that? it really is delicious. it's made by our friends in hoe to bogen, new jersey. that's it for "varney & company" for the day and this week. "coast to coast" starts now. [laughter] ♪ everybody's working for the

weekend. ♪ everybody -- neil: indeed, everybody is working for the weekend. weather's to supposed to be nice in most parts of the country. florida's all rained out9 and, of course, some of the cold weather we were seeing in the midwest, that's going away. it's supposed to "up to near 90 degrees in new york city today, should get down to about 65 in the weekend here in the northeast. bottom line, nice weather pretty much across the country. not nice weather at the corner of wall and broad right now. we've got some selling going on here, but don't blame the bank socks. they tried to do their part with better than expected numbers pretty much across the board, not totally. they're doing okay as a financial group, not so, some of the other ebb shoes that are plagued by, i guess, concerns that consumer's slowing down, retail sales might not be up to snuff. so they balance this perennial battle between inflation worries and then recession worries.

that seems to be the battle as we end the week. the dow and the s&p are at least right now looking to finish the week up. the nasdaq's a toss. we'll see where that goes in the next few hours. mark tepper joins us, strategic wealth partners, president and ceo. mark, first to the banks. as a group first to give us an indication how they fared in the last quarter, pretty well in the face of those higher rates -- >> yeah. neil: -- and maybe for a reason, because of those higher rates. and they seem to be sending good signals. not across the board. i know there was some concerns about bank of america and bank of new york mellon, but your thoughts. >> yeah, without a doubt. so very solid reports so far from the big banks. i mean, it seems like they were all kind of given a clean bill of health, there's really no blowback to the banking failures. we've seen over the course of the last few months. and to your point, because of the flight to the safety that we've seen for customer deposits actually going from the smaller banks to the bigger banks, these

big banks are actually beneficiaries of that crisis. they've been picking up deposits. and on top of that, net interest income results have come in very strong, and that's all because of higher rates. neil, i think what's happening is this is good news percent banks, but it's kind of taking investor hopes where they were kind of hinging on this fed pivot due to the banking crisis, it's almost kind of taking that off the table. and at the same point in time, you're seeing inflation expectations start to ratchet back higher. you've seen the new york fed e this week and the university of michigan increase their inflation expectations to, i think, 4.7 and 4.6% respectively. so, you know, i feel like we're right back to to where we were before these bank failures, and that is that inflation's a problem and the fed's higher for longer policy stance is 100% warranted. neil: yeah, it might be warranted, i mean, maybe i'm just sick thing out in the crowd here, but i do see that consumer slowdown, the latest retail sales numbers, i do see a lot

happening in manufacturing. i also see in both the retail and the wholesale inflation reports still worrisome, but well off their highs, you know, earlier last year. so the trend seems to be the friend, but maybe you balance that with concerns we go into a recession, i guess, right? >> and i think that is, that's the greater concern right now. and to kind of use, you know, to work off some of the bank data we've been getting, the senior loan officer survey, something we follow very closely, that's been showing for the last several months that lending standards are tightening. the nfib small business owner survey, small businesses had basically two main challenges, hiring, and then today don't have enough access to credit. and when businesses don't have access to credit, they can't grow, and the unemployment rate starts to tick a little bit higher. and i can tell you, neil, we're looking right now -- we're just at the beginning of earnings season, but expectations are that this is going to be the second consecutive water of negative earnings growth, and

when you have negative earnings growth and the economic challenges that we're facing right now, it's tough to see multiples going higher which means there should be down ward pressure on stocks. neil: yeah. i think they're looking for earnings to decline about 6.8% year-over-year and, you're right, that would be a contraction if it was the same for the fourth quarter. but as you said, markets aren't priced in for that. there are still those who argue it's a rich market with all of that. do you buy that? >> i do think it's a rich market. i think it should be trading a heck of a lot lower. and, you know, there are certainly a lot of challenges ahead, you know? and while we're talking banks today, i feel like the small banks have even more challenges an most. i mean, they have incredibly high exposure to commercial real estate loans which i specifically think is the next shoe to drop, most specifically office space, retail space. 70% of consumer, of commercial real estate loans, neil, are

held by the smaller banks, not the bigger banks. and for those smaller banks, they make up about 35% of their assets versus roughly 5% for like the jpmorgans of the world, and there's $1.4 trillion of these commercial real estate mortgages coming due this year and next that are going of to be the refinanced at higher rates with lower appraisals while banks are tightening. so i think that presents a big problem for the economy and, to obvious, the stock market as well. neil: all right. we'll focus on it very, very closely here. mark tepper, thank you very, very much. in the meantime, i think we have some video coming in from paris, right? these protests, still waiting to hear from a high court which i don't believe we have yet whether emmanuel macron went too far or and took judicial powers that a court should decide or way beyond what a legislative body should decide when he forced these new changes for entitlements to raise, for example, the retirement age there from 62 to 64 over the

next 7 years or so. we're waiting for a high court ruling on that. i guess they have done it, i apologize here. that was ruled fine, they can go ahead and raise the retirement age. so there you have it. of they don't like it. but a lot of these protests have petered out a little bit. this was sort of their last hail mary pass, if you will, to rely on this constitutional council, if you will, to rule on this. i should have known that, i did not, but they have gone ahead and said that e emmanuel macron is within his rights to force this through the way he did. it is part of the constitution, so the constitutional council would rule accordingly. bob nardelli with us, former home depot ceo, former christ chen ceo. bob, they are not accepting this easily in france. i can understand that. they've been used to this low retirement age and very generous benefits, but it's still going to be the pretty low as far as western power standards are concerned. what do you think of what this could mean for us when

politicians eventually get around to addressing, you know, strengthening funding for social security and medicare here? >> yeah. well, good to be with you, neil, this afternoon. i think you and i have both seen that number rise over our lifetime here, right? so i'm okay at 63, 64, 65, but i do think it-some backlash here in the united states should that i move forward here. now, it would be a much different number, but i think there'll be some negative reaction to to it also, neil, i really do. neil: obviously, entitlements have to be addressed, we know that kevin mccarthy is going to address this whole debt limit issue next week. but he and the president don't seem to be even talking right now about that. you know, the clock isic thing. are you worried about all that -- is ticking. >> yeah, i'm definitely worried about that. i thought a lot of the comments from mark were spot on. i would just reinforce a lot of

the points he made, you know? i'm seeing inventory bills many a lot of the businesses both public and private. neil, you remember when we spoke in '07 ', '8 and '9, there was singular focus on the banks. today the banks are doing great, but now we have this mixed messaging, retail's not doing so well, banks are doing well, transportation is up 13 if.9% -- 13.9% over the last 12 month months. i think we're many a very complex environment and, of course, this debt issue only adds to that. it adds to the certainty of uncertainty what's going to happen. and, again, mark's point at a lot of the small middle-market companies that are under tremendous pressure with debt, i think we're going to see a lot of bankruptcies like bed bath & beyond, we've got walmart not only laying people off, but closing stores. we've got a lot of -- accenture laying people off, amazon

closing distribution centers. so i think there's a tremendous mix message. and the cop mr. speakerty with which we have -- complexity we have to deal with this is different than any i have seen my 52 years, or neil. neil: you can look at that same trend and it's one of the reasons why you have a majority of investors still very leery about the market. that could also be an opportunity that this is as low as we go and things will turn around because so few are optimistic. having said that, retail sales did fall more than expected, down 1%. x-autos, town down .8%. slowest growth since june of 2020. i'm wondering what you make of all of this this because, on the one hand, you can talk about that, you know, giving consumers second thoughts about spending. we don't see much evidence of that because their flights are booked and and airline ares are saying they're very optimistic for a busy summer travel season, restaurants are packedded, wallet disney world -- their site went down as people were

booking vacations. so that doesn't seem to be a worry. this does seem to be a disconnect here. what do you make or -- do of that? >> i think you're spot on, neil. you think about transportation, again,stst the up about 13.9% year-over-year. if you look at bookings, t -- it's up tremendously. if you look at our hometown company here, delta the, it's having tremendous bookings. it came on and talked about the future. hospitality has been one of the biggest job creators over the last couple of months, and you and i have talked about that. but then again you look at retail, and i can just assure you that we're starting to see more cancellations and leaving us with bigger inventories that we're going to have to try to burn off or we're going to have to discount to try to get hose the moved. again, it's very mixed messages here. and you talk about auto e being up and, again, now we have this administration trying to tell the consumer what they're going on the able to buy going forward, right, neil, with the electric vehicles.

neil: yeah. they get more and more of those in. 6 out of 10 sales to do that in just another few years. i don't know if we're ready for that because they're 1 out of 20 sales right now. bob, thank you very much. have a safe weekend, my friend. very good seeing you again. >> thank you, neil, very much. you too. neil: this is a question we posited with all of you, whether any of this has affected your travel plans. joseph writes, neil, a lot of you are trips were booked right after last summer when flights were sill reasonable are, so we were still able to still plan out this year's travel. good for you, obviously, cheaper cost. dad writes: i dipped heavily into my retirement the account to the pay for travel. that's generally not wise but, obviously, you say -- you've tagged me in this tag. is so if your taking the two being withs with you, you know, the beagles will be happy, is so good for you. and gregly writes: shopping around and downsizing accommodations, not in a hotel

much when traveling anyways. a lot of people put the preference on pansy hotel rooms and all the rest, but if you're not going to be in the room very much, you can probably sort of cut back and put the money into the trip itself and maybe try to have fun with all of that. do want to take you back quickly to paris. i'm sorry i wasn't aware of this bulletin when it was coming in, i certainly am now. france and their top court has backed the government's plan to the raise the retirement age right now by 2 years to 6 of 4. this was a crucial win emmanuel macron. those who opposed this whole thing were part of the protests going on for the better part of three weeks day in and day out, this was their hail mary pass. expect highest court there like our supreme court, constitutional council in this case that reads the letter of the the law, how this is constitutional or not, they argue it is constitutional. the raise of the age can go into effect, and now a lot of people are saying, well, i'm going to have to work a little longer than i thought.

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i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck.

>> if your future assets or your future friends who you need assistance from can't trust that you can keep your secrets, keep classified information where it ought to be, the ability to

perform these important intelligence functions is key marijuanad. so i think there's -- diminished. i think the administration hasn't seen the enend of this. neil: indeed, the administration has not seen the end of this. what's' interesting is i read a lot of foreign papers, their english version is whether you're talking france, germany, italy, even england, shocked reaction that the leaker was a 21-year-old low-level staffer. but at a top the security clearance. that leaker, jack teixeira, made his court appearance today in boss on the. iowa legacies mcadams has more. >> reporter: hi, e neil. yeah, a pretty active situation outside of the courtroom, but inside that courthouse behind me in boss on the, 21 is-year-old jack teixeira stood there in front of the judge as he found out he's been hit with at least the two felony charges here. let's get to the brand new video we got just a short time ago of what was going on outside the courthouse, that is jack

teixeira's dad walking out of the courtroom, his son telling him i love you right before he was taken away in handcuffs, still in federal custody. according to this new after kate that was just released, neil, investigators say teixeira uploaded several top secret documents in this case. the fbi interviewed one social media user who described those documents in detail saying they were maps from ukraine and assessments of russia's army and what they were doing on the ground there. the documents described troop movements which is highly classified information, posting that information on that online are messaging app called discord. federal agents kid raid the home of jack teixeira yesterday afternoon just outside of boston, the fbi went into his mom's house and searched. wearing shorts and a t-shirt as he walked doning that driveway. teixeira worked specifically as an i.t. the specialist for the air national guard, but at the time he held the highest level security or clearance granted by the federal government. that's no longer.

those were revoked right before he was arrested yesterday. this leak potentially damages, neil, u.s. relations with our allies and compromises major intelligence. >> this was a deliberate criminal act, a violation of those guidelines. you receive rain thing -- training, and you will receive an understanding of the rules and requirements that come along with those responsibilities. and you're expected to abide by those rules, regulations and responsibilities. it's called military dplins. >> reporter: and right now, neil, the question is how did this 21 -year-old with a high school diploma have such a high clearance to get in and see these highly classified documents to the point that he didn't just look at them at the office, he took them home to his house in boston. a lot of unanswered questions, he will be back here in this federal courthouse next wednesday. neil? neil: all right, thank you for that, alexis is mced adams in boston. to c. mark esper, of course, the former defense secretary of the

unite -- united states under trump. good of to have you. >> hey, neil, good to be with you. neil: you know, it's a couple question on my part, but you're used to that, doctor. i am curious how teixeira shared this with others including this gaming community. and they know all the details, right? it's possible that at home he shared that with relatives. what is their culpability? fords -- in other words, is anyone who had an ear or part to this or can't alarm officials to this, is there any culpability on their part? >> yeah,st a good question, neil, and let me just expand the answer a little bit. i think right now there are at least three immediate concerns i have that i hope the investigators are going after. number one, what is the scale and scope of the release of information. and this suspect would have that knowledge because the sooner we find out, then the sooner we can kind of close it up and fix the system p if to you will. the second issue is how did he

do it. how was he able to download it, print it, get it out of building and do those things. we need to understand that as well so the pentagon can issue additional instructions, if you will, close that up too. and number three is, is anybody else involved? the most dangerous level would be if there was some kind of foreign influence or involvement, i hope that's not the case. did to he have a colleague at the air force that helped. and thirdly, is the chain of command responsible somehow? was there negligence or lack of supervision? i think these threads need to be pulled quickly so we can make sure our systems are secure. neil: you know, he was a relatively concern not relatively, he was a low ranking figure. he had this top security clearance, i don't know how that goes, but it's almost identical to the situation with julian assange, chelsea manning and edward snowden. today play out the same way. different types of revelations and different details, but the same pattern of people who were not top, top security officials

who had a lot of information that maybe they shouldn't have but were perfect hi legal having until they shared it with the world? what do you make of that? >> this is question question. first of all -- key question. i understand the immediate for somebody in his position to have a top secret clearance because when you're the so-called i.t. specialist, those types of things, you need to be able to have that clearance. but that doesn't mean you should be granteds access to the information. particularly finished products coming out of joint staff or the cia. to me, that's the fundamental issue. i've said before we have an overdistribution problem at dod, and i think we need to quickly reduce the number of people who have access to this type of information. neil: bottom line, a lot of classified stuff keeps coming out, right in involving former presidents, former vice president, classified documents. we have it now even with the president's trip to ireland and his security detail and his routeses and where he was going picked off the street and just,

you know, someone who was there watching the event said, hey, do you guys need this? it seems important. st the crazy. and yet i don't know of any other country that has a problem with this -- like this. >> yeah, look, it's been very damage. i don't know why president biden is downplaying it the way he did yesterday. but the fact is it hurts on multiple levels. you know, this release alone hurt our ukrainian partners with regard to their operational readiness and counteroffensive. it hurt our ability to access the russians' information, and it's the hurt our allies, our relationship there. it's damaging on multiple levels. need a serious effort to kind of figure out how to close down this access that's unwarranted and then put in or improve our inside or threat detection systems so that when we see these things happening, investigators, chain of command is cued to take action immediately before this stuff appears on the web for weeks if not months at a time. neil: or before the next time the identical thing a happens.

dr. mark esper, former secretary of defense, good seeing you again. >> thanks, neil. good to see you as well. neil: want to take you to paris right now. again, a high court, their supreme court, if you will, has effectively ruled that president emmanuel macron just ramming that new push to the raise the retirement age in france from 62 to 64 was, indeed, constitutional, and it is the law of the land. and these protesters who have never liked the idea recognizing the as their last, desperate attempt to put it down, are now out of options. the president has anticipated, that is emmanuel macron, that he'd love to the meet with them. the union is saying, no, we don't want to meet with you right now. i wish i knew the french words to say, but it goes something like -- [background sounds] if we'll have more after this. or excuses to unplug. ♪ ♪ and you ca moments that matter.

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consult your doctor before starting on omnipod. and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now fran is in her third year of college and you're her banker. it's so unbelievable because i'm just 20 years old. [laughing] >> i feel like anything could really happen, you know? you can't just say to yourself,

like, this can't happen to me, this won't happen to me. it could. anything can happen to you, especially by yourself. >> i don't take the subway past really 8:00, which means i need to uber or cab which can be expensive. >> we just don't understand why somebody can't get control of the crime, you know? somebody needs to crack down. neil: all right. in the greater new york met to propoll tan area, if the crime doesn't get you, the tough economy and just trying to deal with new elements half come into your community on a daily basis chases potential shoppers away. that's's what my -- count my next guest know it, eric frankel is a fourth generation owner, frankel shoe store, iconic store, that could be on the brink of shutting down. >> thanks for having me. dad, if you're watching, i love you, and get back to work. [laughter] neil: good for you. these are tough times, aren't they? you know, your shoe store is an institution, but there's. only so much you can take what's

hurting you? >> i always say if you ask someone are from brooklyn how you're doing and if they say we're doing great, it means they just moved into the neighborhood or they're visiting from out of state. [laughter] it's -- people are angry. lack of economic opportunity, home ownership. my thing is without with homeownership, you have no quick bity -- neil: ands the an expensive area, but you've dealt with that in the past. now you have these various types coming in, and that's scaring potential shoppers off, right? >> yeah. neil: explain. >> a lot of our customers are moving to republican districts, staten island, pennsylvania. they're being replaced by, it's becoming gentrified. i believe they're trying to croix the community to get us -- destroy the community to guess -- get us to sell. neil: what do you do in the meantime? when people are coming into your store, the ones who do, what to do they say? >> they say we're trying to get out of here.

everyone i mow is leaving brooklyn. neil: what's driving them out? >> home ownership. so they can move to staten island and buy a house. and these are first generation immigrants, so they want home ownership -- neil: and it's too expensive. >> they'll do anything to prevent home ownership. it's either government housing or super luxury, nothing in between. neil: and by you is it more government housing? >> every we have more homeless shelter, if we could buy condos for first-time homeowners, people won't have to leave. neil: so what do you coin obviously, your store is a draw, people want the best shoes and all of that, but if they're afraid to come in or they're just visiting and you're not getting as many visitors, that'e wall here. >> yeah. i feel like they're trying to replace, our local government's trying to replace retail with amazon fulfillment centers. and parking also is difficult. they charge us to park til 10 p.m. in sunset park and third

avenue. we have cars to get to work, not to drive to our second house in the hamptons. it's tough. neil: when did this start getting worse, eric? like, if you had to time it, because you've been around forever. not you, but fourth generation, so when did everything start hitting the fan? >> it used to be really, really bad. we got held up, there were bullets through our window. for a while it was getting better. when it became gentry find, i tell people there was a time when getting run over by the e-scooter wasn't the most dangerous thing in brooklyn, it was really bad. and now i feel like we're going back to the '80s. i wanted my parents to move back to brooklyn, but under these situations, it's terrible. neil: so what do you want to do? >> i want to stay, i want to fight. but we pay property tax, parking, tolls -- neil: property taxes soared. >> yeah, it's crazy. neil: and now we have a lot of large land trust new york economic development corporation doesn't pay tax, a lot of land trusts that don't pay tax,

private universities, they're not paying tax the, so it falls on us and the homeowners. neil: have you ever considered taking the same store and moving in. >> yeah, but -- neil: you don't want to, i know. >> they used to call us the o.g., the original gentrifier. we've been here 13 if 4 years, and i felt it was my obligation to keep the store going. neil: how do you feel now? >> it's time. neil: how codoes your dad -- >> my dad is 82, he says he's still trying to recover from his honeymoon. [laughter] mom, i love you too. [laughter] you know, it's off. neil: yeah. >> we want to see upward economic mobility, and without it -- i mean, we know that people in our community aren't getting displaced by conservatives and republicans. generally, they're white liberals from park slope who can no longer afford it. so they come into the community, and they displace the community. and then our community will move to staten island, pennsylvania. neil: when you have sales, you know, does that draw a crowd in for a little while? what do you do?

>> we're competing with e-commerce companies -- neil: right, right. but you always have. they've been around for a long time, and you've done quite wel- >> they're talking about raising the minimum wage to $25 an hour, which i don't know if it's enough, but we're competing with other e-commerce states -- companies in other states. neil: how much do you pay your people? >> we'd like to pay them more. i was an intern until i was 40. if you can work with family, you can do anything. neil: so your cad was cheap with you. >> yeah. no, he's the best. [laughter] neil: eric, thank you very much. need to hear this sort of stuff because this is real. i talk to the so many who are just trying to get by. they run stores that have become institutions, and hen they're up against all of this craziness, it's nuts. >> like i said, for me, to complain to the local politicians, it's pointless. i want to replace them. but most people don't realize how influential the lobbyists are in our community. and i ran against a democratic

socialist who is a lop byist for pratt which is one of the -- neil: right, right. >> and who also takes money from amazon -- neil: you are the collateral damage. >> yeah. neil: all right. hang in there, my friend. >> thanks so much. neil: my best to your mom, your dad and your family. salt of the either people. this is what happens, my friends. we often lose sight of that, but we can't. in the meantime, push to stop china from taking over our farmland, it is rampant, and doesn't governor glenn youngkin of virginia know it. take a look. >> in my state of the commonwealth address back in january, i asked our general assembly to send me a bill that would protect our farmland, our extensive agriculture lands across virginia from purchase from bad actors,, particularly those associated with the chinese communist party. we have national security assets like the pentagon and quantico and the largest naval base in the world here many virginia, and the last thing we want is

for bad actors to be buying up our farmland right next to them. neil: all right. virginia the latest but not the last, now new york moving to insure same thing, that countries that don't wish us well don't get a chance to own our farmland. nate foy following all of that from grant springs, new york. nate. >> reporter: hey, neil. yeah, the main concern is allowing an adversary y'all -- adversarial nation to control at least in large portion our food supply. you heard governor youngkin, the commerce department has other countries also on the list including china, iran, north korea, cuba and venezuela. but china is the country that is really forcing lawmakers both at the state and national level in pote water -- both parties to act now. china owns over $2 billion worth of farmland and almost 400,000 acres according to the agriculture department, but a democrat here in new york is trying to change that. listen to this. >> i think, you know, keeping

our country safe, making sure we are not allowing foreign adversaries to come in here and threaten our national security when that is with a spy balloon or buying up a farm like this, i think it's a top concern. >> reporter: so that's democrat new york state assemblyman angelo santa barbara. he's the author of that new bill in new york that would ban foreign adversaries from buying farmland. he believes his bill has enough bipartisan support to to become law this year. you can see this is a bipartisan issue across the country. the 16 states in red already have bans in place, and the 15 states in yellow are considering bans. that includes are new york and california as well as texas and florida, two groups of states that often don't agree. we spoke we republican alabama senator tommy tub therville who beliefs this should be a federal issue. >> we're being attacked by china and other countries around the world, and we need to make sure that we're all in this together. not just new york, not just

alabama, not just iowa. we're all in it together. >> reporter: neil, just last month senator tuberville proposed a bill that would ban adversarial nations from buying u.s. farmland across the country, he also has bipartisan support, and he's calling on senate majority leader chuck schumer to bring that bill before the senate for debate. back to you, neil. neil: nate foy on all of that. we're going to take a quick break here with the cow down 247 points -- dow down. we've been paying attention to so-called rogue investments of gold and bitcoin earlier this week hitting highs or at least multiyear highs. gold, almost all-time highs for gold at $02,069 -- 2,069, now a little over $2,008. a lot of people look at bitcoin and this obsession over 30,000. it was once over 60,000, got down to 15,000. so perspective is everything. and on gold i know a lot of people remind me, neil, don't

forget inflation-adjusted terms when gold was almost $3,000 an ounce in inflation-adjusted terms back in 1980. we just look at the raw figures, and we can obviously look at inflation-adjusted. it's percolating again. how long it does so, anyone's guess. we'll have more after this.

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neil: you know, we get a lot of e-mail from a lot of of you, is some ofs the actually what i can quote exempt when you talk about me and say offensive remarks, but that's okay. anyway, we were showing you gold, showing you bitcoin, showing you they've had a pretty good run are. actually, they've had a pretty good year thus far. bumpy i day today, but gold has been in and out of these all-time highs. we're not take inflation adjustment back to 1980 which would be about $3,000 the, we're

talking march of last year, 2,069 the high. and for bitcoin, you know, we always put things in perspective and show you at 30,000 it's a big deal, but we can all remember it was over 60,000, we all remember when it was as low as 15, 16,000 the, so this is just a snapshot of where we are b i -- but a lot of people seizing on they're coming back. my bud key, gary kaltbaum, i was going through prior interview, and he has not aged. [laughter] oregon how that's possible. >> well, thank you. neil: all right are. now comes the tough question. let me ask you, first of all, about the so-called rogue investments. i don't know if that's a fair critique, but you were always doubtful about bitcoin and cryptocurrencies in general, that there was -- i hope i'm not there was no there there. >> with the crypto, they came out with 23,000 coins, people trying to make hay, and i said to you three years ago that i

thought 90% of them would crop 90% or more with both going -- most going to zero, ask that's basically what's happening, but you've ended up with a few that ended up being good trade vehicles. i didn't buy bitcoin at the lows, i'm jealous. what backs these things? it's a trading vehicle. neil: does that -- this is sort of an explosive question -- [laughter] does that matter? does it have to be backed by something? >> when all's said and done, absolutely. if you need to have -- something's got to have a value -- neil: but i always say because the dollar when it came off the gold standard and it was believed richard nixon, well, you know, it's going to go into a freefall because it's no longer backed by something. it's backed by itself, right? >> it's what we use to buy and sell everything. neil: i understand. but now we've got this threat of countries saying we're going to have an alternative to that. >> and that's what's done the trick for gold. neil: got it. >> as of recent. you have all these countries

talking about going to other currencies, and the dollar's weakened, gold has skyrocketed back to all-time highs, and that's what's doing the trick. got overbought, and it's coming town today -- neil: but you've been saying, to your point here, that the market has been uncannily following the dollar. the stronger it gets -- >> stronger dollar, bad. weaker dlarks good. the stronger dollar has hurt multi-nationals -- neil: because they get fewer dollars back when translated -- >> you got it. if you go back the last two years just to place a chart of the dollar versus the market, see a direct correlation. when we went through the big bear market and we may or may not be out of it yet, the dollar was soaring. as soon as the dollar topped, market bottomed literally to the week. so it's something i'm watching every single day. eventually, correlations change, but as of this second, direct. neil: we were raising yesterday, real quickly, in this

possibility that given some of the weak data we've gotten and maybe the progress we've made incrementally on inflation, that we've gone from a 6% base to 5% base, you know the drill, that one and done might do it, that they'll hike in may and then go away. what do you think? >> i think they're nuts if they keep raising rates. why? because the market's screaming the opposite riling now. you have 10-year -- 10-year down at 3.4. they were behind bigtime when inflation was getting out of hand staying at 0% while the real rates, the real free market that they don't believe in, rates were skyrocketing -- neil: do you think that the may hike, if that is the consensus, that's it for a while? >> i have not spoken to jay powell yet, but i am pit sure he is right there. i would not be surprised if they do nothing on the may meeting, and if the economy worsens, start bringing it down again to catch up. and, look, i saw retail numbers today, yuck. neil: yeah. >> i saw service number, not so

great. but then you get job numbers while they're slip ago little bit, still pretty darn strong. and the consumer though i've been telling you for months about savings rates plunging and credit card usage skyrocketing, they're still spending, and until that changes, i think we're in good stead. but i am on watch. neil: got it. good seeing you again, my friend. want to go to my buddy, brian brenberg, getting ready for "the big money show." >> hey, neil. the suspected leaker of military intelligence documents appearing in court. we'll speak to "fox news sunday" anchor shannon bream. plus, "the big money show" is making a very special announcement, you won't want to miss it. more "coast to coast" after this. ♪ ♪ baby, i just wannabe young, young ♪ mara, are you sure you don't want -to go bowling with us tonight? -yeah. no. there's my little marzipan! [ laughs ]

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when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose.

golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health, weight loss is easy. i always thought it would be so difficult to lose weight, but with golo, it wasn't. the weight just fell off. i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you. neil: you know, this goes back to the when my wife and i bought our first e home, did i ever tell you what we paid? oh, i decision,ed like 10,000 the times the toughest part back then was the closing costs. we factored in everything but the closing costs threw us for a loop. and apparently, that is a big speed bump for a lot of people

looking to the buy homes. enter the racket money cofounder and ceo. -- rocket money cofounder and ceo. he's got a solution to this. explain what you're doing here. >> thanks for having me. well, we're thrilled to be launching the rocket visa signature is card. st the first ever credit card design for home ownership. and what happens is card owners earn 5% cash back on all their spend, so you don't have to think about, oh, is this groceries, gases or whatever. on everything you spend, it goes toward your closing costs so when it's time to purchase your home, you apply that against your closing costs, you can earn up to $8,000 in rewards. and after that even once you get your mortgage, you can still continue to earn that for your future home or a refinance, or you can get 2% cash back towards the principal on your mortgage, which if you think about the interest rave concern savings over years, ends up being close e to that 5% and shaves years off that mortgage.

neil: it would have been cool if you said you could slap the entire cost of the home on this card, but a been but that's not what you're thing right? >> that's right. you can't buy a house on the card, unfortunately. neil: something to look into, get your marketing people in on that. in all seriousness, how are things right now? you always hear when interest rates go up, mortgage rates stop spiking. what's going on? >> it's obviously a more difficult time for americans when it comes to the home ownership. so if you have refinanced in the last several year, the rates are much higher, and it's more difficult to refinance. and the you're buying a new home, it's just more ec fencive. -- expensive. and we haven't seen home prices come down, so that means people have larger monthly payments, and it's just a bit more difficult to get into a home these days. we're hoping that this card is one step to help people still make that happen, by earning these rewards and helping toward closing costs.

neil: but you need to start using it and getting those rewards back. doesn't it become like a chicken and egg thing? because they're spending money they might not have to get points that might not guarantee they meet the closing costs? >> well, we don't recommend you increase your spend, right? so what we would say is you get the card and however you're spending today, just use this card instead. if you're not earning any rewards, you might have a card where you get like a hotel upgrade or something like that, but in today's market, it's much better to be earning outsized rewards. it's a no-brainer, if you're thinking about buying a home, to earn 5% versus the 1-2% you might be earning on some other purchase. neil: but it's the also available to people who might not be in the home marketsome. >> correct. but we're really targeting hose people because that's where you get the outsized rewards. you can still trade it in for cash back at 1.25% like a normal card as well. neil: very clever. very good seeing you. thank you. >> thank you. neil: all right. the dow down about 283 points.

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adam: we are going to pull out a good week unless everything goes curve louis. here comes "the big money show". a, guys. brian: