mr. sherman. mr. sherman: i ask unanimous consent that all members may have five legislative days to revise and extend their remarks. and include extraneous material on house resolution 543. the speaker pro tempore: without objection. mr. sherman: yumdz. the speaker pro tempore: the gentleman from california is recognized. mr. sherman: the world is watching hong kong and hong kong is watching the floor of the house of representatives. people by the tens of thousands in hong kong have demonstrated bills we are considering here today. so, they have taken great risk to themselves and tremendous courage. the least we can do is pass these bills. speak in favor of these bills on hong kong. of proud to co-sponsor all the legislation under consideration dealing with hong kong. first focus on a bill introduced with our colleagues, mrs. wagner, mr. yoho, the mr. ranking member of the asia subcommittee, my partner on the asia subcommittee. this resolution demonstrates extradition alled bill is an infringement on

mr. sherman. and today is his birthday. happy birthday, mr. sherman, you are recognized for five minutes. you don't get any more just because it's your birthday >> donald trump said crypto assets can facilitate unlawful behavior, including the drug trade. i ask unanimous consent to put in a report by rand talking about crypto currencies use by terrorists hopefully without objection. >> without objection, such is the order. >> i'm not here to be anti-facebook. i was anti-cryptocurrency back when you were anti-cryptocurrency. cryptocurrency either doesn't work, in which case investors lose a lot of money, or it does achieve its objectives perhaps and displaces the u.s. dollar as the -- or interferes with the u.s. dollar being the sole reserve currency, virtually the sole reserve currency in the world. that role of the u.s. dollar saves the average american family $1,000 in interest costs because money pours into the united states baufecause of the role of the dollar we in congress spending because of the power of the u.s. dollar. the u.s. dollar

mr. sherman, has one minute. mr. sherman: i thank the gentleman for yielding. this is indeed a bipartisan speech. the fact is, many other countries have recognized this genocide. and they've done so under tremendous turkish pressure. for example, france was told that they would not be able to export to turkey if they recognized the genocide. they did, and in the subsequent six years, french exports to turkey quadrupled. this genocide has been recognized by argentina, germany, italy, the list -- belgium -- the list goes on and on. it is time for america to also recognize the truth. d so i look forward to the day, which is not true today, when scholars and individuals in turkey can talk about the genocide, can come to grips with their own past, instead of being threatened with incarceration for even mentioning this debate. because turkey will not have the rule of law and democracy until you're free to discuss the first genocide of the 21st century on turkish soil. i yield back. the speaker pro tempore: the gentleman yields back. the gentleman from new jersey rese

mr. huizinga. >> you have accomplished something that nobody thought was possible. brad sherman, chair waters, many on the others of the aisle actually agree with, and in fact use tweets by the president to support their position. [laughter] >> i never thought i would see the day, but here they are. you have taken the puzzle pieces of politics, shaken up the box, throwing them on the table and everybody is trying to figure out where they fit when it comes to facebook and to this technology. you for what your tool has become because i do believe it is a tool. i want to explore that a little bit. what, my question is, share of libra is facebook? it is an association you reference, do you own half of that? is it equal shares? atid marcus, who had been ,acebook is heading up calibra is it one in the same? are two organizations here, there is the independent libra association. which is a nonprofit. it is not a for-profit. >> how does that -- here is what i'm trying to get out. how does the voting go? is it what david marcus says? is it what facebook says? you can be overruled? >> tha

mr. sherman: i rise -- the speaker pro tempore: the gentleman is recognized for two minutes. mr. sherman: i rise in support of the resolution. i rise in opposition to the ecent decision of the trump administration. we had a situation in syria that was stable. of ad a modest deployment american troops. we were successful in limiting casualties to a very low number. caliphate.ated the our friends, the kurds, be who incurred most of the debts thousands, necessary to destroy the isis caliphate, from safe. the situation was stable and favorable to the states. action in e taken an which america is humiliated, the kurds are subject to slaughter, word means less in the orld, and isis stands to be revitalized. mistake.uch an obvious defying anyone with that is such a grave mistake that it makes you wonder whether it was an mistake designed to give russia territory in syria for whatever reason we might want to do that. to reevaluate our re-evaluate our policies toward turkey. we have protected turkey from subversion in the 1940's, and from the soviet union for decades. 20 ntly, over the las

mr. sherman. you are recognized for five minutes and i would note to other members that may be on their way that we have a hard stop at 4:30. mr. chairman, you have time and you're recognized. >> the turks are relying to a certain extent on the arab tribal militias. so to what extent is turkey relying on them and to what extent are they i had logically s in line with isis? >> thank you, congressman. so i'm not sure they're tribal militias. i think -- >> they've been zlibd way. >> if you look at who they are, they're composed of some people who were refugees, displaced persons from other parts of syria. some of them may be former isis or other sort of members of other -- >> al qaeda? >> or other sort of rebel groups. so some of them have made their way into the groups who are now fighting turkey's behest. i can't tell you to what extent sort of turkey's relying on them versus their own forces. clearly, if you look at what we see in the open sources, does it seem as though there say very heavy compon

mr. sherman, for five minutes. sherman: today is a great because afterdeck aids of strug -- after decades of struggle, this house will the armenian genocide. just in time to be viewed by the survivors of the first genocide of the 20th century. weeks ago i came to this floor andry said, now is the recognize the to armenian genocide. because it was no longer the to kowtow to turkey. ince then, many of us approached the speaker and urged er to put this bill on the floor. ut this great day belongs to nancy pelosi, our speaker who made the decision to bring it to the floor where we will pass this resolution, house 296, which i and so many others introduced to this year.in april of this and, of course, i origins red -- been an co-sponsor of every armenian 1997.de resolution since we always should have recognized genocide, but we were told again and again that because we do it have this great alliance with turkey. month, turkish the left and to to the right of an american base. t seemed clear to many that they were ready

mr. clayton, i want to follow up on something that congressman sherman was discussing with regards to cecil. his conversation dealt with mr. royceman and i've written a letter to you with regards to sec asking for a delay in study of cecil whether it's appropriate or not. and you stated that the mission doesn't involve macro level studies on financial market and is the u.s. economy. this is an endeavor best pursued by the financial regulators. they all seem to think that nobody should be doing this. nobody wants to do anything. i get the regulator two-step. let's say i agree with you, the sec does not do macro economic studies. your a member of fsoc are you not? have you requested to do a study? >> i have not. >> that is their job. why have you not done that? >> the question -- let's take a step back. i agree with you that if something is going to have an adverse impact, if we're going to choose a measure and then people are going to manage to that measure for a nonprudential reason, we should be rethinking that measure. in the area of cecil, what we've seen is fasb say for a number of enti

mr. sherman. today is his birthday. happy birthday, mr. sherman. you're recognized for five minutes. you don't get any more just because it's your birthday. >> donald trump said crypto assets can facilitate unlawful behavior, including the drug trade. i ask unanimous consent to put in the record a report talking about cryptocurrency's use by terrorists. hopefully without objection. >> without objection, such is the order. >> not here to be anti-facebook. i was anti-cryptocurrency back when you were anti-cryptocurrency. cryptocurrency either doesn't work, in which case investors lose a lot of money, or it does achieve its objectives perhaps and displaces the u.s. dollar as the -- or interferes with the u.s. dollar being the sole reserve currency or virtually the sole reserve currency in the world. that role of the u.s. dollar saves the average american family $1,000 in interest costs because money pours into the united states because of the role of the dollar. the federal reserve can turn over up to $100 billion in profits to the u.s. treasury that we in congress spend because of the

mr. sherman. the speaker pro tempore: the gentleman is recognized for three minutes. after decades of struggle this house will recognize the armenian genocide just in time for the last few survivors to see it. we should have recognized the genocide but we didn't because we were told we had a great alliance with turkey. earlier this month, turkish forces shelled near and deliberately bracketted american bases. americans fled in unseemly haste. great ally. it has been a great alliance for turkey. we defended it from communism in the 1940's, defended them from the soviet union for decades and provided them with $23 billion in aid. it is critical that we counteract turkey's genocide denial because genocide denial is the last act of a genocide. first you obliterate a people. then you seek to obliterate their memory. finally you seek to obliterate the memory of the obliteration. because genocide denial is also the first step in the next genocide. when hitler's cadres wondered if they could get away with the holocaust, he was able to assure them, who today speaks of the anil

mr. sherman. today is his birthday. happy birthday, mr. sherman. you're recognized for five minutes. you don't get any more just because it's your birthday. >> donald trump said crypto assets can facilitate unlawful behavior, including the drug trade. i ask unanimous consent to put in the record a report talking about cryptocurrency's use by terrorists. hopefully without objection. >> without objection, such is the order. >> not here to be anti-facebook. i was anti-cryptocurrency back when you were anti-cryptocurrency. cryptocurrency either doesn't work, in which case investors lose a lot of money, or it does achieve its objectives perhaps and displaces the u.s. dollar as the -- or interferes with the u.s. dollar being the sole reserve currency or virtually the sole reserve currency in the world. that role of the u.s. dollar saves the average american family $1,000 in interest costs because money pours into the united states because of the role of the dollar. the federal reserve can turn over up to $100 billion in profits to the u.s. treasury that we in congress spend because of the

mr. sherman, you are recognized for five minutes. and i would note to other members who may be on our way that we have a hard stop at 4:30. you have time and you are recognized. >> the turks are relying to a significant extent on these arab tribal militias. to what extent is turkey relying arehem, and to what extent they ideologically simpatico with isis? thank you you, congressman. i am not sure they are tribal militias. >> they have been described that way. >> if you look at who they are they are probably composed of some people who were refugees, displaced persons from other parts of syria. some may be former isis or other certain members of other rebel groups. there were over 1000 of these different rebel factions in syria in the past. so some had probably made their way into these groups were now fighting at turkey's behest. i cannot tell you to what extent turkey is relying on them versus its own forces. i just do not have that information. clearly if you look at what we have any open sources it seems there is a very heavy comp

mr. sherman's line of questioning with the reserve currency. what effect do you think that you get implemented -- libra implemented, what this would have on the reserve status of the u.s. dollar? >> congressman, because the reserve will be primarily u.s. dollars, i actually think that a project like this could be important for extending america's financial leadership. to the contrary of the risks that are being pointed out. we have to be careful about all of the risks around financial stability. there's certain regulators who oversee that, and we're also mindful of that. we want to do something that strengthens america's leadership. i think we can't sit here and assume that because america is today the leader that it will always get to be the leader if we don't innovate. innovation means doing new things. >> okay. >> new things have risks, and we need to address the risks. we need to be careful in doing that. i personally worry that if we don't do things like this, whether it is this project or others like it -- >> let me -- >> -- potentially w

mr. brad sherman who represents my hometown of the san fernando valley, thank you for being a part of this. i come before you as a mayor, a parent, a foster parent, a volunteer and organizer and long time activist on the issue of homelessness. i started, representative green, you were talking about skid row. i started when i was 14 on skid row, and something that predated my birth by decades as a place where we deposited the social ills and trauma. think of what the 14-year-old eric garcetti would tell the 48-year-old eric garcetti and what was to come. and so i am the panel of one, and the last panel, and a little bit tired and a little bit hungry, and probably a little bit depressed hearing some of the things that you is heard today. i hope to give you a perspective to kind of give you some hope and some belief that it is a human-caused problem that is obviously a human-solved problem as well there. is no issue that i work on more than that, and the mayors i have brought together across the country on this issue. mayors ironically have the little direct powers into and out of cures of ho

mr. sherman? ambassador wells, welcome back. we look forward to seeing you again next month at the asia subcommittee for our hearings on human rights in south asia, and of course, there's considerable interest in my district and a number of others on events in kashmir. it occurs to me that it's unlikely that we'll have a peaceful and prosperous afghanistan unless pakistan wants to see a peaceful and prosperous afghanistan. the border between pakistan and afghanistan is the line and no government of afghanistan has ever accepted that and all and including the taliban and the government seem to have taken the position that a huge chunk of pakistan should actually be part of afghanistan. it seems unlikely that pakistan is going to be rooting for a peaceful and prosperous afghanistan if the government is actively claiming a big chunk of pakistani territory. first, does the united states accept as in violent the direct line between pakistan and india -- or pakistan and afghanistan? >> we do recognize the dur and line is the boundary

mr. sherman: i rise -- the speaker pro tempore: the gentleman is recognized for two minutes. mr. sherman: i rise in support of the resolution. i rise in opposition to the ecent decision of the trump administration. we had a situation in syria that was stable. of ad a modest deployment american troops. we were successful in limiting casualties to a very low number. caliphate.ated the our friends, the kurds, be who incurred most of the debts thousands, necessary to destroy the isis caliphate, from safe. the situation was stable and favorable to the states. action in e taken an which america is humiliated, the kurds are subject to slaughter, word means less in the orld, and isis stands to be revitalized. mistake.uch an obvious defying anyone with that is such a grave mistake that it makes you wonder whether it was an mistake designed to give russia territory in syria for whatever reason we might want to do that. to reevaluate our re-evaluate our policies toward turkey. we have protected turkey from subversion in the 1940's, and from the soviet union for decades. 20 ntly, over the las

laughter mr barry sherman. with the kurds, good and trusted friends, and the united states is a major ally of ours, and he has a good relationship with donald trump, will he step up to the plate and show that the british government cares about this and is willing to do something about it? i thank the right honourable gentleman, he is absolutely right to raise this issue, and if i may say so, it is an appalling state of affairs, house will be aware of what is happening in northern syria. this is happening in northern syria. this is something the british government has actively deplored, and i have spoken to president erdogan, twice, now, i think. spoken to president erdogan, twice, now, ithink. last spoken to president erdogan, twice, now, i think. last weekend and this most recent weekend on the matter. i have urged him to cease fire, urged for a standstill, and, everybody in the house shares the right honourable gentleman's feelings about the loss of civilian life. it is particularly unsettling to see some of o

mr. sherman is now recognized. >> we have the envy of the world, people able to borrow hundreds of thousands of dollars at pretty low rates, and we have a system that has produced $300 billion of profit for the federal government, and more than and has paid back the federal government $109 billion more than what was necessary at the beginning of the crisis. it works. it produces huge profits, and produces low interest rates, and it is a far better real estate finance system than any other than anywhere else in the world, but one giant flaw. there is no way to make $1 billion for a private individual and no way to get stock options for the private individual, and so it is working for everybody but the 100th of the top 1%. and this is working so well, that-year-old not get congress who often makes stupid mistakes to approve spinning these entities off, because they are in effect government entities. secretary mnuchin, do you believe that you can spin the entities off without an act of congress authorizing them? >> yes, we do. but let me just make a comment. >> no, no, i have a limited amount o

sherman in california. >> caller: first time, long time thank you, mr.for teaching us to be smart, independent investors. with a lock-up expiration on beyond, should i sell or hold? q.i like them so much but that's not enough. the stock is very overvalued versus all the competitors that are coming in. you have to sell beyond. we'll get to a level that's right. let me go to mark in virginia. >> >> caller:. hey, jim my stock is texas instruments. >> oh, nice piece. do you mind if i wait to see the number lightning round. >> announcer: the lightning round is sponsored by tg ameritrade ent tennis player. bye-bye. i recognize that voice. annie? yeah! she helped me find the right bonds for my income strategy. you're very popular around here. there's a birthday going on. karl! he took care of my 401k rollover. wow, you call a lot. yeah, well it's my money we're talking about here. joining us for karaoke later? ah, i'd love to, but people get really emotional when i sing. help from a team that will exceed your expectations. ♪ in the human brain, billions of nefo

sherman. i now will recognize myself for five minutes. and i'm going to go first back to you, mr. ansell. you described a very well, what was happening in the county of los angeles. i want to know more information about measure h that was passed in 2017. now i think it is important for everyone to understand that we do have funding from the federal government, for all of the united states of america. and that's through the mckinney bento funds, so you get an allocation just as the city does. in addition to that, i was just looking up how much money you received from the mckinney bento grant that we send out to all of our states. so in addition to that, you have the measure h, is that correct? >> yes, that's correct. >> and you said measure h is what, $100 million? >> congresswoman, measure h is generating an estimated $355 million annually. >> well you describe to us exactly how the $355 million is being spent? i thank you for the general overview of what the needs are. but now you have started to apply that funding to various efforts of the county. exactly what are they? >> certainly con