China’s been busy. This would be a good time to buy yuan as a hedge against the US fiat dollar.

7.000 yuan = $1372

https://www.sterlingcurrencygroup.com/buy-currencies.html

Yuan reaches record high against the US dollar

Further appreciation predicted, which would fuel inflation on the mainland and in Hong Kong

http://www.scmp.com/news/article/1213468/yuan-reaches-record-high-against-us-dollar

Petrodollar:

A petrodollar is a United States dollar earned by a country through the sale of its petroleum (oil) to another country.[1] The term was coined in 1973 by Georgetown University economics professor, Ibrahim Oweiss, who recognized the need for a term that could describe the dollar received by petroleum exporting countries (OPEC) in exchange for oil.

http://en.wikipedia.org/wiki/Petrodollar

How the Chinese currency is replacing the U.S. Dollar in global oil markets

April 17, 2013 – History is being written in the East. As the U.S. stays distracted with stone age warriors in Central Asia and the Middle East, the last platform of the American economic foundation, the U.S. Dollar’s currency reserve status, is being underminded by their trade partners in Asia. Both Australia and Japan are set to start direct-trading in Chinese currency and they are not the only ones. There are almost 20 countries whom have currency swaps in place with China all in order to side-step the U.S. Dollar in global trade. At the China Money Report, we have written extensively on the “Rise of the Renminbi”. What is new and largely unreported and what we will cover in this article is the “Rise of the Petroyuan,” as China is now converting its oil imports into Chinese Yuan as opposed to U.S. Dollars. This will be a new challenge and possibly the fatal blow to the U.S. Dollar as the dominant global reserve currency.

With their industrial base all but gone, the housing market bubble popped, and the Federal Resereve funding the majority of the government debt with printed currency, the American economy can ill-afford a new challenge to its currency’s reserve status. It is this very reserve status which has led to America being able to consume more than it produces for decades upon decades as foriegn countries were willing to trade consumer products for paper IOU’s. The Dollar’s reserve status came about naturally after WW2 as the U.S. was the world’s larget trading nation, exporter, and creditor. Today, China occuppies all of these slots.

China will soon occupy a new slot: That of the world’s largest oil importer. OPEC has confirmed on April 4th of this year that they expect China to surpass the United States as the world’s largest oil importer in 2014. This shift in global oil flows is being driven by the twin pillars of a booming Chinese economy and America’s newfound booming domestic oil and gas supply. This shift in the oil trade carries with it massive geopolitical implications that will reshape the world as we know it.

http://www.financialsense.com/contributors/dan-collins/rise-petro-yuan

China and Iceland seal free trade agreement

http://www.france24.com/en/20130415-china-iceland-seal-free-trade-agreement

15 APRIL 2013 – AFP – Iceland became the first European country to sign a free trade agreement with China on Monday, as Beijing looks to gain a foothold in the strategic Arctic region

Xi calls for enriching Sino-French partnership

http://news.xinhuanet.com/english/china/2013-04/12/c_132304781.htm

http://investmentwatchblog.com/this-would-be-a-good-time-to-buy-yuan-as-a-hedge-against-the-us-dollar-while-china-is-actively-working-to-end-the-petro-dollar/