As the policies of Venezuela President Hugo Chavez continues to create a black market, some currency traders has taken the opportunity to capitalize on it.

According to the Wall Street Journal, some citizens are profiting from the price difference between the bolivar and the dollar.

First, the reason for the black market:

Since 2003, Mr. Chávez has more than doubled government spending on free medical care, higher salaries, gasoline subsidies and other services. That created more demand for goods and services, which fueled inflation. In response, Mr. Chávez expanded price controls, which now cover meat, sugar, eggs, milk and other products. That led to food shortages as producers balked at selling their goods at the mandated prices. The shortages produced a black market, where prices have soared.

With the official exchange rate of 2,150 bolivars to $1,  and a black market rate of 4,800 to $1, savvy traders are able to profit on the price differential.

Wealthier Venezuelans have discovered they can use credit cards to exploit the difference between official and black-market currency rates. Some have flown to the nearby island of Aruba and bought $5,000 worth of gambling chips, the maximum overseas credit purchase allowed by the Venezuelan government, according to a person who arranges the trips. They cash in the chips for dollars, then, back at home, buy enough bolívars on the black market to pay off the credit-card debt, this person says. They pocket the rest — around $2,300 at current rates, more than enough to pay for the trip.