dollar in a letter sent to the federal reserve chairman german pow representative french hill republican of arkansas and representative bill foster outlined concerns that they have risks to the u.s. dollar if another country or private company creates a widely used crypto currency and ask whether the central bank is looking into creating its own version we are. uncertain that the primacy of the u.s. dollar could be a long term jeopardy from wide adoption of digital currencies internationally the bank for international settlements conducted a study that found that over 40 countries around the world have currently developed or are looking into developing a potential currency right i saw that story and that plays into what we've been talking about here because if all these stations create digital currencies script of currencies they would increase the velocity of money and it would get countries away to move away from the dollar and the dollar is feeding the very specific ponzi scheme so it because it is digital gold because in a would be a crease velocity and there is incredible there's very very litt

of these payments. liz: when you're talking about the government, french hill, a republican from arkansas, and bill fostere democrat from illinois, both wrote a letter to the federal reserve saying you guys better get on the ball here. this is important because we could lose our status eventually or at least put the greenback in jeopardy. >> right. and i think you are seeing some members of congress on both sides of the aisle -- luckily, this is a great bipartisan issue -- they see that the u.s. has been a leader in many technical revolutions, there's no reason why we shouldn't be here. and there are issues at stake the including as we're describing here kind of where does the u.s. dollar sit in the hierarchy of global currencies. liz: well, are we behind if the people's bank of china, according to coin desk, has something like 50 patents filed for this kind of thing? >> yeah. i don't know yet if we're behind. i think there's a risk of falling behind. the good news is in a self-congratulatory way, we do have companies doing things around crypto. ripple has been a leader in this space, and i think there's

joining us now, member of the republican leadership team for the house committee on financial services, congressman french hill of arkansasry much for coming on the show this morning. >> congressman, thank you for being here. you know, facebook, to me, always seemed like a pretty harmless thing. i just needed to monitor my kids, right? >> and your pets. >> and your pets. >> share pictures. it's so fun. >> and, you know, post 2016 there's been a closer focus on it. but what's crazy is we found out the russians were trying to influence it and sheryl sandberg and others were trying to suppress that information when whistleblowers would come up they would try to suppress information. and now it's where over 50% of americans get their news. we regulated like cbs when walter cronkite told us the way it was. we regulated. at what point do we finally regulate this company because, again, they control over 50% of the news feed in america. >> well there is why he's a regular on capitol hill now. he was back after an 18-month absence. i found him more humble, more willing to answer questions and have discussion. of course he came to