Updated

Sat., July 2 at 9 p.m. ET
Hosted by Chris Wallace

Scanning the world horizon, there is no greater potential flashpoint than Iran. President Bush and his foreign policy team believe that Tehran (search) is actively pursuing nuclear weapons. The ayatollahs who run that country flatly deny it.

The fate of millions of people and the security of the United States are at stake. How great is the threat and what should the White House do about it?

Join host Chris Wallace as FOX News presents a Breaking Point investigation: "Iran: The Nuclear Threat."

Until just a few years ago, the fear of a nuclear bomb in the hands of ayatollahs was more theoretical than a real foreign policy concern. What changed? FOX News' Jonathan Hunt reports from Paris.

How did United Nations' inspectors miss Iran's secret nuclear program for 18 years? FOX News' Greg Palkot has the story from Vienna.

President Bush hopes diplomacy will end Iran's nuclear threat. But what if diplomacy fails? What does the president do next? FOX News national security correspondent Bret Baier investigates our options.

Plus, could a first strike come not from the U.S., but from the country that has the most to lose from an Iranian bomb? FOX News' Jennifer Griffin reports from Jerusalem.