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Off in the Pacific Ocean, among the Caroline Islands, is a particular trio of small islands known together as the Island of Yap. Its native residents form several communities among the islands and number in the thousands. From its ‘discovery’ by Spain in the sixteenth century until the turn of the twentieth, it was a largely ignored Spanish property. Once the island fell under German ownership in 1899, more details of their peculiar culture were finally exposed to the western world. More specifically, their peculiar economy.
