# The Fraying of the US Global Currency Reserve System Links: [[Tiffin Dilemma]] Report by [[Lyn Alden]] US has spent significant effort trying to maintain use of the dollar in oil pricing worldwide - Iraq: Spent 2 trillion taking down Saddam Hussein over nonexistent weapons of mass destruction after he began pricing oil in Euros - Russia: Sanctioned Germany for cooperating on the Nord Stream 2 pipeline to bring oil from Russia to Germany - Iran: Iran's neighbors (Europe, India, China) all have trade relations with Iran and want to import Iranian oil, but US levies sanctions to prevent that The main thing in common is always that the Sanctioned country is oil-producing - The interest is not in seizing the oil, but rather in enforcing that the oil is priced in dollars. Otherwise, the US is forced to finance its own (staggering) debts ## Luke Gromen on a solution https://twitter.com/LukeGromen/status/1506682779576242179?t=-EHA_A0daCR9dapcYJcimA&s=19 The restructuring of USD reserve status I've long advocated, succinctly summarized: Keep the USD as GRC, replace UST as primary reserve asset w/gold or BTC as neutral reserve asset that floats in all FX, & "industry comes home, supply chains solved" will be the outcome. 👇