MICRONESIA's STONE MONEY (Rai Stones), island of Yap (Pacific)

Rai stones (or fei stones, stone money) on the island of Yap, Federated States of Micronesia, Pacific Ocean - famous stone money (Rai stones or fei stones) of Yap island. Let's travel to the Federated States of Micronesia in the Pacific Ocean and let's go to the island of YAP where we will view the 'stone money' (Rai stones or fei stones) rocks that just lay around and have been here for centuries.
A rai stone (or fei stone) is one of many large artifacts that were manufactured and treasured by the native inhabitants of the Yap islands in Micronesia. They are also known as Yapese stone money or just stone money.
The Yap islands group is part of Micronesia and has a very peculiar currency: stone. Stone money known as “Rai” are large stone disks, sometimes measuring up to 4 meters, with a hole in the middle that was used for carrying them. It was and still is used as a trading currency there.
Yap or Wa′ab classically refers to an island located in the Caroline Islands of the western Pacific Ocean, and a part of the Federated States of Micronesia.
The Micronesian island of Yap is known for its stone money, known as Rai or Fei: large doughnut-shaped, carved disks of (usually) calcite, up to 4 m (13 ft) in diameter (most are much smaller). The smallest can be as little as 3.5 centimetres (1.4 in) in diameter. There are around 6,000 of the large, circular stone disks carved out of limestone formed from aragonite and calcite crystals. Rai stones were quarried on several of the Micronesian islands, mainly Palau, but briefly on Guam as well, and transported to Yap for use as money. They have been used in trade by the Yapese as a form of currency.
#Yap #Micronesia #VicStefanu

[@yapeace2011]

Miss home. Thank you for sharing this. 😃 am humbled by your videos..not only for the island of yap but all the other wonderful places you've visited. Very inspiring. 😃🌴🌴🌴🌴🌺

[@VicStefanu]

Thank you!!

[@jerika_gachagirl4327]

I miss coming here 😔

[@singinalex52]

Great video! I just started learning about rai stones in a book, "The Bitcoin Standard". It starts with the history of money. Rai stones worked great as a store of value for a long time until an Irish sailor brought counterfeit stones to the island

[@VicStefanu]

I did not know about the Irish sailor, how interesting!

[@omkr0122]

How can you 'counterfeit' a stone coin that weighs more than an elephant? It's mind boggling.

[@singinalex52]

the Rai stones were made of limestone, which was not native to the island of Yap. So for hundreds or maybe thousands of years the people would paddle canoes to Palau or Guam and quarry the stones by hand. The process would sometimes involve hundreds of people to transport the Rai stones back to Yap island. Then, in 1871 an Irish-American captain named David O'keefe shipwrecked on the shores of Yap and was revived by the locals. O'keefe saw a profit opportunity in taking coconuts from the island and selling them elsewhere. In order to get the Yapese to work for him, he needed to pay them in their native currency. So he took a large boat with explosives and modern tools to Palau and quarried new counterfeit Rai stones to pay the Yapese. That was pretty much the beginning of the end.

[@VicStefanu]

@@singinalex52 Very, very interesting, thank you for sharing with us this information!

[@ethanalfonso5676]

@@singinalex52 Palau not Guam and yes we even have an island within the reef named after O'Keefe.

[@neahtorwan8626]

aww that's my village. missed home sooo much. thank you for sharing this

[@VicStefanu]

Hello, thank you for your comments!! I hope to go back one day!

[@jameshecter8440]

Ayy damban

[@annettemartin313]

We spent 3 months on the island of Yap and to our understanding, the stones are never actually moved. They are carefully documented at the city hall and are transferred on paper so they might belong to many people but the upper class owns nearly all of them.

[@VicStefanu]

+Annette Martin You may be right but my understanding is that there is a physical transfer of the stone money from one village to another... When I was there, there was a transfer of stones from one village to another; the village that gave the stone money was assisted by the village that received the money for efforts of recovery after a heavy storm....

[@evanw2195]

Vic Stefanu - World Travels and Adventures that may be how it is now but the way the other guy describes it would make complete sense why the stone are stacked like they but what do I know

[@sean0095]

The platforms you were standing on were used for the chiefs of Yap for community meetings to discuss community issues. The flat rocks that you see on the platform on the outer edges are actually backrests for the men and each chief had their own. Miss home! Thank you for sharing!

[@VicStefanu]

Wow, thank you for this information! I wish I could go back!!

[@colorblindvids]

wishing you safe travels

[@VicStefanu]

@@colorblindvids Thank you!

[@Bobajoe]

This is amazing I didn't know this was real. I was watching an old SNL clip where Phil Hartman is Donald Trump and mentions the currency. So amazing thanks!

[@VicStefanu]

lol... thank you for viewing my videos.. I doubt Trump knows anything about YAP and its money!!

[@I_am16]

"Welcome to the land of stone money" Nice video :)

[@VicStefanu]

+Mystery Mayhem Thank you!!

[@Doors_of_janua]

Thoroughly enjoyed that. Thank you

[@VicStefanu]

Thanks for visiting! 😊😊😊

[@dukereaper2284]

the movement of stone money takes agreement from both sides, depending on the reason of the transaction. ownership and location of stone money so you both are correct.

[@VicStefanu]

+Javin Lubuw Thank you for your reply and for the clarification!!

[@adventurerready3114]

Great video! Thank you for sharing, appreciate your enthusiasm.

[@mellisagilmete4687]

Wow...Amazing...I really want to visit Yap and see the stone moneys myself....

[@VicStefanu]

It is an incredible place, I hope you can make it there one day..

[@cassielengel00]

A contestant/comedian on the British tv show called QI (Quite Interesting- season 7, episode 14) mentioned this place and the currency but because he is a comedian I thought he was joking. I guess not! Wow. Thanks for the video 👍🏻🙏🏼

[@VicStefanu]

Hello, thank you for watching my videos!!

[@LL-sq8se]

So interesting and beautiful.. Thanks Vic 🤗🦋👯👍🦋

[@VicStefanu]

Thank you!!

[@umarmai]

Such and interesting way to explain distributed ledger technology. Thank you.

[@VicStefanu]

Hello, thank you for your comments!!

[@lorienelson]

At least, no bank robbery to worry. Such a beautiful and peaceful islands.

[@VicStefanu]

The islands are so peaceful and stunning.. Thank you for your comments!

[@omkr0122]

Mr Krab's first dime!

[@VicStefanu]

Hello and thank you for viewing my videos!!

[@marinella1447]

Beautiful and unique.Thankyou.

[@VicStefanu]

Marinella Garitsis Hello, thank you for your comments and for watching my videos!!

[@patkoono]

That's why i am buying bitcoin. It's the concept of proof of work. Thank's for this great video!

[@VicStefanu]

Thanks for watching! Interesting idea to compare bitcoin to the stone money of Yap..

[@user-bg3qy9zi7v]

Thank you for this video. I was born and raised in Hawaii however my mom is from Yap.

[@VicStefanu]

Hello, thank you for your comments!! 😊😊😊I hope that you can visit Yap one day, it is such a wonderful place!!

[@harrypot9000]

So the bankers in Yap are all stoned I see

[@VicStefanu]

lol...

[@I_am16]

Ahahaha well done good sir

[@matthewwelsh294]

You won the internet 😂 😂

[@jameshecter8440]

Nice video it was very interesting I never knew there were very nice stone money in yap.!!

[@VicStefanu]

Hello, thank you for your comments!!

[@jameshecter8440]

@@VicStefanu no problem I'll subscribe and leave a like because I've learned a lot in this video

[@VicStefanu]

@@jameshecter8440 Thank you!

[@julesmckay7607]

Love all this videos

[@VicStefanu]

Hi, thank you for your comments and for viewing my videos!!

[@user-gu8de9jm8u]

It is NOT money. They are ship anchors⚓. Of their ancestors. It is ancestor worship, and bond. "My word or promise is good. I come from this lineage. Help me now and I will help you later." Most importantly though, it is reverence to direct ancestors who settled on the island.

[@VicStefanu]

Interesting comments, thank you!

[@end0skeleton404]

My older half brother is half yapese. I'm 1/8 Native American, you could say my dad has a type...

[@VicStefanu]

Hello, thank you for watching my videos!! 😊😊😊

[@paolotorres8537]

Imagine if that was your salary, and had to lug it back home

[@VicStefanu]

In a very big wallet..

[@ColtonRDean]

@James 23 Seriously, I thought the same thing. Literally a decentralized ledger made of a chain of blocks.

[@wrightflyer7855]

Vic Stefanu: Thanks for pointing me in the right direction!

[@VicStefanu]

Hello, thank you for watching my videos!! 👍👍👍

[@badra1593]

هذي العملات الضخمة كم تسوى بالريال السعودي؟

[@VicStefanu]

لا يمكنك تحويل هذه الأموال الحجرية إلى عملتك

[@livelong100]

Did you get a change to visit Rumung, where they have the biggest stone money in Yap?

[@VicStefanu]

livelong100 Yes, I did and I have the video saved somewhere for future uploading.. Hello, thank you for your comments and for watching my videos!! If you have not done so by now, please subscribe to my channel for more exciting videos from around the world, here is the link: www.youtube.com//user/vstefanu?sub_confirmation=1 Here’s my video celebrating my tour of the 110th country that I recently visited, spectacular New Zealand: kzbin.info/www/bejne/g2PLe4Wuo9mIpLM

[@bambilove1897]

So basically the value it was crafted with is what it still is valued as today. I love this so much 😭 takes notes, Americans lol THE ECONOMY NEEDS STONE MONEY VIBRATION. w/o the intense hierarchy 😂😅

[@VicStefanu]

Hello, thank you for these interesting comments!! 👍👍👍

[@garycarr7568]

THESE STONES WERE PROBABLY SAMPLES OF SIZES THE ISLAND PEOPLE MADE FOR INLAND USE DIFFERENT SIZES DIFFERENT SIZES WAGONS

[@VicStefanu]

Very interesting, thank you for these comments!! 😊😊😊

[@dailyviewstv5323]

I'm riches at that time, I made billion stone money but when European arrived I dumped all in the sea to not be looted...

[@VicStefanu]

Hello, thank you for sharing these interesting comments with us! 😊😊😊

[@odhran8825]

Who's here from The Bitcoin Standard?

[@julesmckay7607]

That where yapese people dance.

[@bluedunn374]

Visiting from QI

[@VicStefanu]

Great!! 👍👍👍

[@ejbadger7922]

What happens if there are some Stone money broken or missing? They are allowed to produce new one or the value of the existing stone monies will go up?

[@omkr0122]

The large stone coins are recorded in public memory, similar to a bitcoin ledger. The islanders know the names and the duration of the ownership of the stone coins. Also, a stone coin this big cannot break easily unless someone tried to break it deliberately and I am sure that there is no thief in the world who can steal these coins as he'll be stoned for sure!

[@Wifgargfhaurh]

Do they sell shares of these stones or are they never divided?

[@VicStefanu]

Stones are never divided....

[@julesmckay7607]

They use local canoe.

[@julesmckay7607]

Those stone money came from Palau island.that where the local people get it from.

[@VicStefanu]

Yes, true.. thank you for ALL your comments and for viewing my videos!!

[@bluesmokerH1]

Now, for ten years we've been on our own And moss grows fat on a rolling stone

[@VicStefanu]

Hello, thank you for your comments!!

[@joey6058]

I wonder. Is there no inflation or deflation? Does the island also not participate in international trade?

[@VicStefanu]

Excellent question! I asked about that and the answer is NO! Since the Rai do not carry a monetary value (like a currency) they do not follow the currency rules and regulations..

[@jacquesbondersstudios]

like als bart defloor je naar hier stuurde

[@julesmckay7607]

That the foundation of a local house

[@VicStefanu]

yes, thank you for the information!

[@AnshuKumar-xz6si]

Came here because I am reading Bitcoin standard

[@VicStefanu]

Thanks for visiting! 👍👍👍

[@Cta2006]

Why can't there be more such stone money added to Yap ? Or did I missunderstand you ?

[@VicStefanu]

+Cta2006 If more money was added, then the current money will lose some of its value.. the way to keep the value of the money steady is by keeping the same amount of money at all times...

[@tharnganbenedict24]

According to some elders, I heard from lot of them were destroyed during the Japanese administration sometimes around the early 1930s. Many were also used for ship anchors and some were used in the Japanese landing strip in Luwech.

[@benavery58]

Markipler anyone?

[@Luisung01]

So would you call this Fiat money?

[@omkr0122]

Yes. But you will need a VOLVO to carry it!

[@dumdropdumdrop]

they would not have condoned yapanese had it not endured to its participation. being it nonreligious may lead to yap island as different to western ideaology in terms of monie.

[@VicStefanu]

Hello, thank you for your comments!!

[@ld1661]

The grandfather of bitcoin

[@VicStefanu]

Interesting point, thanks for watching! 👍👍👍

[@luiscabral8645]

Better could be use send to western union !!!!!!!!

[@VicStefanu]

lol, thank you for your comments!! 👍👍👍

[@demtrugnuwaab6766]

Kammagar ko walbuw

[@VicStefanu]

+Demtrug nu Waab Thank you for viewing my videos!!

[@cassielengel00]

A contestant/comedian on the British tv show called QI (Quite Interesting- season 7, episode 14) mentioned this place and the currency but because he is a comedian I thought he was joking. I guess not! Wow. Thanks for the video 👍🏻🙏🏼

[@VicStefanu]

Hello, thank you for your comments and for watching my videos!!