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.
VENEZUELA'S MADURO: TRUMP IN THE WHITE HOUSE CAN'T BE WORSE THAN OBAMA
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.
