So, the BRICS lead the shift to another currency, like the Yuan, China being the next largest economy, and, compared to this banana republic, projecting an image of stability and rule of law.

Yeah, not so much.

First off, glad the administration is doing secondary sanctions. Cutting off the money spigot was discussed here months ago.

Secondly, there's no way the RMB becomes the "reserve currency". I'd almost hope they'd do it. Why? We'd set a dollar rate vs. the yuan that was so low we'd vaporize the value of the US Treasury bonds they hold, the US debt picture would get a lot better, Chinese goods would be prohibitively expensive relative to the dollar and their export-based economy would crack. Meanwhile, manufacturing would flow back to the US as the low, low prices of Chinese goods wouldn't be so low anymore.

So no, they're not doing that. They've built their status on the back of artificially suppressing the yuan's value for decades - they're not going to change course now.

What Bessent's comment really tells you is exactly WHO is doing business with Iran that shouldn't be.