Taking a page out of the Hitler playbook, Russian President Putin has invaded Ukraine saying that Russian nationals are in danger in that country. You may remember back in 1938 the Nazi leader did the exact same thing in Czechoslovakia sending in forces to, quote, "protect Germans" who the Fuhrer said were at risk it was a reuse. Britain and France capitulated and a year later the World War II began.

There is no question that Putin's invasion of the Crimea is a clear international violation. Putin is punishing Ukraine for wanting to move into the European Union because their economy is so bad. The tyrant opposes that. The incident is a huge embarrassment to the Obama administration which some believe to be soft on international danger. Secretary of State Kerry reacted this way to Putin.

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KERRY: He is not going to gain by this you know he may able to have his troops for some period of time in the Crimea unless he resolves this but the fact is he is going to lose on the international stage. He that may find himself with asset freezes on Russian business. American business may pull back there may be a further tumble of the ruble. There is a huge price to pay.

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O'REILLY: But the only way Russia will lose is if President Obama moves quickly to punish that nation. The way to do that is to move against Russian banks. Last September, Senator Richard Blumenthal of Connecticut urged Mr. Obama to slap sanctions on Russian banks because they were propping up the Assad regime in Syria. The President did not do that and Assad is still killing innocent people today.

But now Mr. Obama has to do it. Because that's the only way Putin will pull back. The USA has to power, has the power to crush the Russian currency the ruble which is already in trouble. Freezing Russian assets and boycotting Russian banks would badly damage the Russian currency. That's the play.

Also Russia should immediately be suspended from the G8 partnership. That's the group comprise of the USA, Britain, Canada, France, Germany, Italy, Russia and Japan that work together for economic benefit. Tomorrow Russia should be out unless they pull out you of Ukraine.

There are a number of other smaller things that can be done but believe me, the bank deal would hurt Putin deeply because the Russian economy is awful. Long past time to deal with this thug. He is a menace to the world, a killer who could not care less about international law or human rights. We can't fight them militarily but we can damage Russia economically.

Finally a couple of unintended consequences. Number one, there will be no military budget cuts, President Obama has to know that now. Number two, the Keystone Pipeline must be approved. Why? Because Russia is blackmailing Europe over energy. Supplies a third of oil and natural gas to the EU the more oil and natural gas the USA and Canada can produce and distribute, the weaker Russia becomes on the world stage I fervently hope President Obama understands that.

Finally, there is Barack Obama's legacy. Here's a satirical picture posted on Fox Nation showing the contrasting styles of Putin and Obama. Obviously the Russian leader sees himself as macho man. Who's going to do pretty much what he wants. The President sees himself as a renaissance man who wants to accommodate. But there is no accommodating Putin. And if the USA looks weak on this one, believe me, we'll pay a heavy price. As will the President's historical reputation. And that's "The Memo."

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