I think the above comment nails it: trust is important.
Countries have a lot of possibilities to play with their monetary policy. However, many of these possibilities carry a price in terms of losing trust in the international market. If you let down you investors, don't be surprised if the next round of investors is cautious. It's not a capitalist conspiracy; it's just how markets work.
Note BTW that Venezuela doesn't have to export oil to United States to get dollars. USD is the global currency of oil trade, and if you sell oil to anyone, you can get USD. The trade wouldn't have to be in U.S. currency either, as the country could sell in some other freely convertible currency and then change those to USDs if that's what they need.
USD is not without its trust problems, either. The U.S. federal reserve says that 1 out of 4000 notes or 0.01 % of value is counterfeit, but I expect that in world-wide USD circulation, the percentage is much higher.
Countries have a lot of possibilities to play with their monetary policy. However, many of these possibilities carry a price in terms of losing trust in the international market. If you let down you investors, don't be surprised if the next round of investors is cautious. It's not a capitalist conspiracy; it's just how markets work.
Note BTW that Venezuela doesn't have to export oil to United States to get dollars. USD is the global currency of oil trade, and if you sell oil to anyone, you can get USD. The trade wouldn't have to be in U.S. currency either, as the country could sell in some other freely convertible currency and then change those to USDs if that's what they need.
USD is not without its trust problems, either. The U.S. federal reserve says that 1 out of 4000 notes or 0.01 % of value is counterfeit, but I expect that in world-wide USD circulation, the percentage is much higher.