Venezuela may now be the country in the world with the most millionaires. There is, however, a caveat. That money isn’t worth much anywhere else in the world. Amid rampant inflation, widespread shortages of everything from toilet paper to medicine and a failing economy, the Venezuelan government recently introduced three new bank notes into the market ranging from 500 to 20,000 bolivars. But while somebody in Caracas can now carry 1 million bolivars in his billfold, in
terms of U.S. currency those 50 bank notes are only worth only about $300 on the country’s black market and one bill is valued at less than $6. “That won’t get you very far,” Chris Sabatini, a professor at Columbia University’s School of International and Public Affairs, told FoxNews.com. READ MORE
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