I am Venezuelan
first of all, fuck chavez, he holds the world record for value destruction. 10 years of putrefaction. thanks to chavez venezuela is now the most expensive, most dangerous, most corrupt country on earth. we're not an emerging economy, like most in Latam, we're 4th world.
Second of all, chavez floods the local black market with us$ from oil sales so he can keep the black market down. why? because he implemented a stupid control 6 years ago on foreign exchange and no one can buy legally US$ (you can, but with many limitations) so everyone uses the black market and it flows through to inflation, currently above 30%. Interest rate is also 30% (so next time you get your mortgage or credit card bill, give thanks instead of complain)
one of his 'socialist' goals is to keep inflation under control. as you can see, hes doing great (like in all other economic category).
p.s. fuck oliver stone, who just made a documentary elating him. If anyone can give me any tips on how to ban this idiot forever, appreciated.
J