Situation as he sees it is in the south. Here's president biden in the east keep you waiting good afternoon. There we go. The russian military has begun a brutal assault on the people of ukraine without provocation without justification, without necessity.

This is a pre-meditated attack. Vladimir putin has been planning this for months. As i mentioned, we've been saying all along. He moved more than 175 000 troops, military equipment in positions along the ukrainian border.

He moved blood supplies into position and built a field hospital which uh tells you all. You need to know about his intentions all along. He rejected every good faith effort, the united states and our allies and partners made to address our mutual security concerns through dialogue to avoid needless conflict and avert human suffering. For weeks for weeks, we have been warning that this would happen, and now it's unfolding largely as we predict it.

In the past week we've seen shelling increase in the donbas, the region in eastern ukraine, controlled by russian-backed separatists, russia. The russian government has perpetrated cyber attacks against ukraine. We saw a staged political theater in moscow outlandish in baseless claims that ukraine was a ukraine, was about to invade and launch a war against russia that ukraine was prepared to use chemical weapons. The ukraine committed a genocide without any evidence.

We saw a flagrant violation of international law in attempting to unilaterally create two new so-called republics on sovereign ukrainian territory and at the very moment that the united nations security council was meeting to stand up for ukraine's sovereignty to stave off invasion. Putin declared his war within moments. Moments missile strikes began to fall on historic cities across ukraine. Then came the air raids, followed by tanks and troops rolling in we've been transparent with the world.

We've shared declassified evidence about russia's plans and cyber attacks and false pretexts. So there could be no confusion or cover-up about what putin was doing. Putin is, the aggressor, putin chose this war, and now he and his country will bear the consequences. Today, i'm authorizing additional strong sanctions and new limitations on what can be exported to russia.

This is going to impose severe cost on the russian economy, both immediately and over time. We have purposefully designed these sanctions to maximize the long-term impact on the chart. That's up is that this is. This is minimize the impact on the united states and our allies, and i want to be clear.

The united states is not doing this alone. For months we've been building a coalition of partners representing well more than half the global economy. 27 members of the european union, including france, germany, italy, as well as the united kingdom, canada, japan, australia, new zealand and many others to amplify the joint impact of our response. I just spoke with the g7 leaders this morning and we're in full and total agreement.

We will limit russia's ability to do business in dollars. Euros, pounds and yen to be part of the global economy will limit their ability to do that. We're going to stunt the ability of to finance and grow rush, the russian military we're going to impose major and we're going to impair their ability to compete in high-tech 21st century economy. We've already seen the impact of our actions on russia's currency in the ruble, which early today hit its weakest level.

Ever ever in history, the russia stock market, plunged today the russian government borrowing rates spiked by over 15 percent. In today's actions, we've now sanctioned russian banks that together hold around one trillion dollars in assets. We've cut off russia's largest bank, a bank that holds more than third of russia's banking assets by itself, cut it off from the u.s financial system, and today we're also blocking four more major banks. That means every asset they have in america will be frozen.

This includes vtb the second largest bank in russia, which has 250 billion dollars in assets, as promised, we're also adding the names to the list of russian elites and their family members that are sanctioning that were sanctioned as well. As i said on tuesday, these are people who personally gain from the kremlin's policies and they should share in the pain. We will keep up this drumbeat of those designations against corrupt billionaires. In the days ahead.

On tuesday, we stopped the russian government from raising money from u.s or european investors. Now we're going to apply the same restrictions to russia's largest state-owned enterprises, companies with assets that exceed 1.4 trillion dollars, some of the most powerful impacts. Our actions will come over time as we squeeze russians access to finances and technology for strategic sectors of its economy and degrade its industrial capacity for years to come between our actions and those of our allies and partners. We estimate that we'll cut off more than half of russia's high-tech imports, it'll strike a blow to their ability to continue to modernize their military it'll degrade their aerospace industry, including their space program.

It'll hurt their ability to build ships, reducing their ability to compete economically, and it will be a major hit to putin's long-term strategic ambitions and we're preparing to do more. In addition to the economic penalties, we're imposing we're also taking steps to defend our nato allies, particularly in the east. Tomorrow, nato will convene a summit we'll be there to bring together the leaders of 30 allied nations and close partners to affirm our solidarity and to map out the next steps. We will take to further strengthen all aspects of our nato alliance, although we provided over 650 million dollars in defensive assistance to ukraine just this year last year.

Let me say it again: our forces are not and will not be engaged in the conflict with russia in ukraine. Our forces are not going to europe to fight in ukraine, but to defend our nato allies and reassure those allies in the east. As i made crystal clear, the united states will defend every inch of nato territory with the full force of american power, and the good news is nato was more united and more determined than ever. There is no doubt no doubt that the united states and every nato ally will meet our article five commitments, which says an attack on one as an attack on all over the past few weeks, i ordered thousands of additional forces to germany and poland as part of Our commitment to nato on tuesday in response to russia's aggressive action, including his troop presence in belarus and the black sea, i've authorized deployment of ground and air forces already stationed in europe to nato's eastern flank allies, estonia, latvia, lithuania, poland and romania.

Our allies have also been stepping up adding the other allies, the rest of nato, adding their own forces and capabilities to ensure collective defense and today, within hours of russia's unleashing its assault, nato came together and authorized and activated an activation of response plans. This will enable nato's high readiness forces to deploy and when and where they are needed, to protect our nato allies on the eastern boundaries of europe. And now i'm authorizing additional u.s force capabilities to deploy to germany as part of nato's response, including some of the u.s based forces that the department of defense placed on standby weeks ago. I've also spoken with defense, secretary austin and chairman of joint chiefs general milley about preparations for additional moves.

Should they become necessary to protect our nato allies and support the greatest military alliance in the history of the world. Nato. As we respond, my administration is using the tools every tool at disposal protect american families and businesses from rising prices at the gas pump. You know we're taking active steps to bring down the cost, and american oil and gas companies should not should not exploit this moment.

To hike their prices to raise profits, you know in our sanctions package we specifically designed to allow energy payments to continue. We are closely monitoring energy supplies for any disruption. We've been coordinating with major oil producing and consuming countries toward our common interest to secure global energy supplies. We are actively working with countries around the world to elevate collective release from the strategic patrolling reserves of major energy consuming countries, and the united states will release additional barrels of oil as conditions worn.

I know this is hard and that americans are already hurting. I will do everything in my power to limit the pain the american people are feeling at the gas pump. This is critical to me, but this aggression cannot go unanswered. If it did, the consequences for america would be much worse.

America stands up to bullies. We stand up for freedom. This is who we are. Let me also repeat the warning i made last week.

If russia pursues cyber attacks against our companies, our critical infrastructure, we are prepared to respond for months, we've been working closely with our pride with the private sector to harden our cyber defenses, sharpen our ability to respond to russian cyber attacks as well. I spoke last night to president zielinski of ukraine and i assured him that the united states, together with our allies and partners in europe, will support the ukrainian people as they defend their country, will provide you humanitarian relief to ease their suffering in the early days of This conflict, russia, propaganda outlets, will keep trying to hide the truth and claim success for its military operation against a made-up threat. But history has shown time and again how swift gains in territory eventually give way to grinding occupations. Acts of mass civil, mass, civil disobedience and strategic dead ends the next few weeks and months.

We hard on the people of ukraine. Putin has unleashed a great pain on them, but the ukrainian people have known 30 years of independence, they've repeatedly shown that they will not tolerate anyone who tries to take their country backwards. This is a dangerous moment for all of europe for the freedom around the world. Putin has committed an assault on the very principles that uphold the global peace, but now the entire world sees clearly what putin and his criminal and his kremlin allies are really all about.

This was never about a genuine security concerns on their part. It was always about naked aggression, about putin's desire for empire by any means necessary by bullying, russia's neighbors through coercion and corruption, by changing borders by force and, ultimately, by choosing a war without a cause. Putin's actions betrays sinister vision for the future of our world. One more nations take what they want by force, but it is a vision that the united states and freedom-loving nations everywhere will oppose with every tool of our considerable power.

The united states and our allies and partners will merge from this stronger, more united, more determined and more purposeful and putin's aggression against ukraine will end up costing russia dearly economically and strategically. We will make sure of that. Putin will be a pariah on the international stage. Any nation, the countenance of russia's naked aggression against ukraine will be stained by association when the history of this area is written.

Putin's choice to make a totally unjustifiable war on ukraine will have left russia weaker and the rest of the world's stronger liberty, democracy, human dignity. These are the forces far more powerful than fear and oppression. They cannot be extinguished by tyrants, like putin and his armies. They cannot be erased by people from people's hearts and hopes by any amount of violence and intimidation they endure in the contest between democracy and autocracy.

Between sovereignty and subjugation, make no mistake: freedom will prevail, god bless the people of a free and democratic ukrainian. May god protect our troops associated press zeke. So do you have any plans to speak with president putin at this point and what interactions do you have with the russian government? I heard the first part. Do i have any plans to speak with putin at this point and what what communications do you have with the kremlin as far as uh military offers, ukraine and making sure this does not spiral into a larger conflict? Well, it's a large conflict already.

The way we're going to ensure it's not going to aspire to a larger conflict is by providing all the forces needed in the eastern european nations that are members of nato. Nato is more united than it's ever been and i have no plans to talk with putin wall street journal tarina. Mr president, you didn't mention swift in your sanctions that you announced. Is there a reason why the u.s uh isn't doing that? Is there a disagreement among allies um regarding swift and whether russia should be allowed to be part of it? The sanctions that we've proposed on all their banks of equal consequence may be more consequence than swift number one number two uh.

It is always an option, but right now, that's not the position that the rest of uh europe wishes to take. Um, cecilia vega, abc sir sanctions clearly have not been enough to deter vladimir putin to this point. What is going to stop him? How, and when does this end, and do you see him trying to go beyond ukraine and a second question i'll just give to you now this statement that he gave last night will that the what the threat that he gave the west will face consequences greater than Any you have faced in history. Is he threatening a nuclear strike? I have no idea what he's threatening.

I know what he has done. Number one number two, no one expected the sanctions to prevent anything from happening. It has to show this is going to take time and we have to show resolve so he knows what's coming, and so the people of russia know what he's brought on them. That's what this is all about.

This is going to take time. It's not going to occur, he's going to say. Oh my god, these sanctions are coming. I'm going to stand down he's going to test the resolve of the west to see.

If we stay together and we will we will and will impose significant costs on him. Will he go beyond ukraine? Sir? Do you see him going? Yes, two topics, just really quick. First markets are down and gas prices are up. I know you always stress the difference between wall street and main street, but everybody seems to be in for some economic pain.

How, economically painful is it going to get for people in this country, and i do have one more question. First of all, there's no doubt that when a major nuclear power attacks and invades another country that the world is going to respond and markets can respond all over the world. So there's no doubt about that number. One number two: the notion that this is going to last for a long time is highly unlikely as long as we continue to stay resolved and imposing the sanctions we're going to impose on russia period.

What's your next question, i'm sorry, the next question is: did you underestimate putin, and would you still describe him the way that you did in the summer as a worthy adversary? At the time he was, i made it clear as an adversary and i said he was worthy. I didn't underestimate him and i've read most of everything he's written. Did you read? I shouldn't say i'm not a wise guy, the you. You heard the speech he made.

Almost an hour's worth of speech is why he was going into ukraine. He has much larger ambitions in ukraine. He wants to in fact reestablish the former soviet union. That's what this is about, and i think that his uh his ambitions, uh, are are completely contrary to the place where the rest of the world has arrived, you're, confident that these devastating sanctions are going to be as devastating as russian missiles and bullets and tanks.

Yes, russian bullets, missiles and tanks in ukraine. Yes, i am thank you, president. If sanctions cannot stop president putin, what penalty can i didn't say, sanctions couldn't stop him. You've been talking about the threat of these sanctions for several weeks.

Now, yes, but there's a threat of the sanctions and imposing the sanctions and seeing the effect of the sanctions are two different things. There are two different things and we're now going to he's going to begin to see the effect of the sanctions and what will that do? How will that change his mindset here given he's because it will so weak in his country that he'll have to make a very, very difficult choice, to continue to move toward being a second rate power or in fact, respond? You said in recent weeks that big nations cannot bluff when it comes to something like this. You recently said the idea of personally sanctioning president putin was on the table. Is that a step that you're prepared to take and if not a bluff? That's on the table? Sanctioning president putin, yes, why not sanction him today, sir? Mr president, why not sanction him today? Mr president, if i can you detailed some severe and swift new sanctions today and said the impact it will have over time, but given the full-scale invasion, given that you're not pursuing disconnecting russia from what's called swift, the international banking system or other sanctions at your disposal, Respectfully, sir, what more are you waiting for, specifically with the sanctions we've imposed, exceed swift, the sanctions we oppose exceed anything? That's ever been done.

The sanctions we imposed have generated two-thirds of the world joining us. They are profound sanctions, let's have a conversation in another month or so to see if they're working yes, can i ask you about zelensky, sir? You spoke to vladimir zelinski yesterday, sir. What's the what's the risk that we are watching the beginning of another cold war and is there now a complete rupture in u.s and russian relations? There is a complete rupture right now in u.s russian relations. If they continue on this path, that they're on and in terms of a cold war, that depends you have the vast majority of the rest of the world and total opposition to what he's doing from asia to south america to europe to around the world.

And so it's going to be a cold day for russia, the idea you don't see a whole lot of people coming to his defense and are you are you if i could follow up? Sir? Are you urging china to help isolate russia? Are you urging china to help isolate russia, i'm not prepared to comment on that at the moment? No, no! No he's had his hand up a long time. Thank you, mr president, how concerned are you that uh putin wants to go beyond ukraine into other countries and the u.s will have to get involved if he moves into nato countries? Well, if he did move into nato countries, he will be involved. We will be involved. The only thing that i'm convinced of is, if we don't stop now he'll be emboldened.

If we don't move against him now, with these significant sanctions, he will be emboldened. Look, you know every uh well anyway, and can you talk anything more about your conversation? Can you, mr president, mr president, india, which is a major defense partner of the united states, is the india with fully with you on the issue of ukraine and russia? Does the defense department of the united states, so india is one of your major defense partners? Is india fully in sync, with united states on on russia, we're going to be we're in consultation with with india? Today we haven't resolved that completely okay. Thank you all very talking about the much action, the invasion underway. Seeing here all right, i don't think they're going to talk much more substance for a little while there they're recapping what uh, what biden had kind of talked about, but there was uh a couple key takeaways for me and chat.

You already noticed uh, one of them. The spy by the way, uh reacted somewhat positively to uh to biden's talk here, uh, regarding what their response is going to be towards russia, amc up, 16, 52 right now, five percent on the day, uh getting some form of a bounce off of a pretty gnarly Gap down amc at one point was down to 13.79, following from the uh the news of russia invading ukraine uh. This is some pretty serious stuff. A lot has happened in a 24-hour period of time, right, uh, perhaps the most recently uh.

What? What alarms me? The most is the breaking of the geneva convention. Russia uh broke the geneva convention by attacking a hospital uh. That's a that's! A pretty big deal right, that's sort of one of those things within war that you're not supposed to do you're not supposed to involve civilians. You're not supposed to involve those who are are medically medically injured or or otherwise incapacitated, and that did in fact happen and uh biden's response from what i can gather is is that of we will get involved if other nato countries are so threatened by by putin Or by russia and their military force, there was a comment regarding china.

That biden chose not to speak on and i i'm i shouldn't say that i'm surprised, but i would have liked to hear his response to that question, which was uh regarding whether or not uh they're going to be having conversations with china to try and uh. Perhaps have some ties in fighting against uh fighting against russia here so uh, there's, there's there's a lot that has happened, and i think this is a day right more so than than biden's response more than anything that has been said. This is a day in which there's bigger things going on than the u.s markets. Right, it's okay, to be happy! That amc is up six percent on the day, uh! It's okay to be happy that uh, the the broad market is getting some form of a bounce off of what looked like could have been the end of the world, at least for the time being, right, uh, but there there are real people out there.

You know this is obviously not at the fault of uh us citizens. We didn't, we didn't create these problems, we're simply bystanders who who are trying to uh. You know ride the wave, essentially control the controllables and and see what happens, but this is a day in which real lives are are being lost and there's real damage being done, and i think reflecting on that's very important. So if i seem somber today, that's that's the reasoning behind it right.

I don't think this is lighthearted news i think uh. I i think it's important to be able to reflect and appreciate what we have uh for safety. You know and to put up thoughts and prayers to those in ukraine who are being affected and those who know people in ukraine uh who are being affected right. It's it's a it's a very it's a very sad situation.

You know there. There are way more important things in the world than markets and when, when that question was asked - and i got a little bit frustrated - i'm not gon na lie. I i got frustrated because i don't feel as though economic concerns are what should be at people's. You know fronts of their minds right now, uh, you know.

Obviously those reporters are just doing their job. You can't be frustrated with them. You know they're asking what they're told to ask, but it's it's crazy stuff. Man we live in a we live in a wild world like the fact that uh the geneva convention was broken to me.

You know. That's, that's scary. That's really scary uh! I i would be very, in fact i'm actually. I am surprised to some extent that the united states isn't already intervening in ukraine, as was indicated by uh by by president biden uh, it's surprising to me that that already hasn't happened, considering the fact that the geneva convention has been broken and that has been reported.

Um, it's it's! It's very sad stuff. Man today is a day where i think a lot of a lot of people's hearts are gon na, be hanging a little bit heavy uh thinking about what's happening in the in the broad world, beyond markets right. Obviously, if you're making money in the markets today, do your thing it's it's a day right. The market is what the market is.

It's a tool and a capacity to make money uh, but just it's okay to be able to reflect as well. You know today is a heavy day. It really is so thought's up man, thoughts up to ukraine, thoughts up to those who uh who are involved and just keep them in the back of your minds. You know all right: uh, chad, i'm gon na, be straight with you.

I'm gon na be straight with you. This uh this situation with with russia and ukraine and seeing some of the things that i've seen on twitter with uh some of the collateral damage and problems that have arisen. Uh they're on my they're on my mental, pretty bad right now, uh. You can probably tell like i said, i'm somber, i'm just keeping it pretty chill, but uh the stock market's, not really on my mind right now.

It's uh, it's it's ukraine and sort of that situation. That's taking place so i think i'm gon na hop off of this live stream early. Typically, i would go longer, but uh, i'm not. I don't wan na.

I don't wan na pretend like like uh. This is what's on my mind. Stocks aren't on my mind. Right now you know so i'm gon na hop off and i'll be back tomorrow.

You know same same stuff as usual uh an honor, though of everybody who stopped in at amc, hopefully hitting 17 bucks. I will pop back a quick slurp bottom is up, but i'm gon na be back tomorrow, chat until the next one i'll catch you all later much love light taps peace.