In this post I will outline a procedure which if followed correctly can give anyone unlimited MR opportunities. It is comprised from various points which will be explained.

THIS CAN ONLY WORK IF YOU HAVE FAMILY OR FRIENDS IN VENEZUELA!

1) The Venezuelan Currency Control (CADIVI): A few years ago, due to a quick depletion of international currency reserves because of economical instability, the government established a currency control, allowing only certain companies to access "government dollars" at the "official" rate which was placed at 2,15 BF (Bolivares Fuertes), this gave way to the black market dollar prices to be sometimes more than double (it was at 7,15 BF at some point, now its holding steady at 4,80 BF).

2) The Airline connection: Airlines have access to dollars at the official rate, and they get their dollars at 2,15 each, and they sell tickets according to the official rate, which means that a $800 dollar ticket will be sold at 1720 BF. But really you are paying around $350-380 dollars for that ticket depending on the black rate (because you take your $800 dollars and sell them in the "black" market for 4,7 a piece and get 3760 BF).

3) Important Websites to remember:
The "Black" average exchange rate: http://venezuelafx.blogspot.com/
The cheapest Venezuelan Online Travel Agency: http://www.rumbo.com.ve/

4) The practical part:
Step A) Search (on KAYAK for example) for a cheap flight like EWR to HKG: Apr 15-Apr 22 which will price at $843.
Step B) Then do the same search on the above mentioned website RUMBO.COM.VE (in Spanish) and the price will come out to 1820,40 BF. This when converted at the 4,7 rate is equal to $388
Step C) Call your relative in Venezuela and tell him to go to the PASSARINI SUAREZ travel agency in CENTRO LIDO (http://www.passarinisuarez.com/contactenos.aspx) which run the RUMBO website and pay 1820,40 BF, and they will send you an e-ticket.
Step D) Check the VENEZUELAFX website and see the average price (its constantly going down, mainly due to the devaluation of the US dollar), it should be around 4,7 - 4,9. Send your family relative the $400 and let them convert it in the black market. They should get their money back with a percentage.
Step E) Enjoy your flight and the miles!!!

On MileCalc.com (http://www.milecalc.com/) the CPM showed at 2.4cpm

The R/T flight is 16130 Miles, and the price is $388

Play around a bit and enjoy yourself!

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The Information for the above mentioned flight I picked is:
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BTW, I hope this doesn't fall into the following category of the FlyerTalk guidelines...

Because it is fully legal... Its legal to buy tickets with Venezuelan Bolivares... Its legal to change Dollars to Venezuelan Bolivares (well, somewhat legal)... Its legal to call your family member or friend and have him pay for you...