Venezuela a nation of broke millionaires
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 US currency those 50
bank notes are only worth only about $US300 ($400) on the country’s black
market and one bill is valued at less than $US6 ($8). More…
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