Since he vanished, I'm gonna post a new one.
This "country" was established in 1972 by a Las Vegas architech. He created an artificial island on top of a reef in the Pacific where the nation was to be established. After that, they created their own currency and delivered declarations of independence to neighboring countries. A conference was held over this "country" which included Australia, New Zealand, Tonga, Fiji, Nauru, Western Samoa, and the Cook Islands. At this conference, Tonga claimed it as their own territory and occupied it. A group of Americans tried to retake the island in 1982, but the Tongan military forced them off after 3 weeks.
What "country" am I talking about?