U.S. Businessman Launches Cash Flow Experiment In Micronesia

Pacific Islands Development Program, East-West Center With Support From Center for Pacific Islands Studies, University of Hawai‘i

News Release

Blue Sky Traders FSM, Micronesia

September 9, 2015

In a novel effort to track the flow of cash among the islands of Micronesia, American businessman Reg Bennett of Blue Sky Traders is planning to disburse 200 one-dollar bills into the local economies of Yap and Pohnpei as a way of seeing just how long a dollar will stay on the island.

"The real question is: How long does a dollar stay on-island? How many times is it passed from hand to hand before it leaves the country? Understanding these questions could help in creating policy or designing methods to lengthen the time these bills stay on-island. The more times a bill is spent could have wide reaching benefits for our island nation," said Bennett.

His plan is to stamp 200 one-dollar bills as part of an ad-campaign with a red "Where’s George" mark in the hopes that individuals in Micronesia will update the location of the bill on the website www.wheresgeroge.com in order to track the progress of the bill as it travels among or outside of the islands. He encourages anyone who finds a dollar bill with a red "Where’s George" stamp on it to please visit www.wheresgeorge.com and participate in this unique effort. The bills should begin circulating in Yap and Pohnpei towards the last week of September.

WheresGeorge.com was launched in 1998 and currently has more than 250 million bills that are logged and tracked on its site. Once a bill is registered on the site, a person can then track "a list of all the cities, states, and countries where (the) bill has been recorded, as well as travel time and distance along its journey."

Blue Sky Traders is a purchasing and international shipping company which has worked with businesses and organizations throughout Micronesia to provide supplies and equipment necessary to properly run operations.

Bennett served as a U.S. Peace Corp volunteer in Palau from 1992 to 1994, and returned to Palau in 1997, where he lived for an additional 8 years and operated several businesses.

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