The world is now watching video from a stunning ballistic missile display over the U.S. West Coast that was timed with China's latest currency announcement.

China achieved another major stride in taking over the predominance of the U.S. petrodollar, and achieving global reserve currency status. With more of Europe embracing the yuan, this techtonic shift is rapidly rearranging global order and tilting status to the Far East. Bloomberg reports:

China took another step to boost the yuan's global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund.

The link will start on Tuesday, the China Foreign Exchange Trade System said in a statement, making the franc the seventh major currency that can bypass a conversion into the U.S. dollar and be directly exchanged for yuan.