The Washington Post reported last week on steps taken by Venezuela to crack down on its growing cocaine trade.
Facing criticism that cocaine trafficking is out of control, Venezuela’s government this year has embarked on an aggressive program to track drug-smuggling planes and destroy clandestine airstrips used by Colombian drug clans, Venezuelan drug enforcement and military [...]

The Wall Street Journal mentions the rampant black market in Venezuela.

“Venezuela has developed a special business culture, where the game is played amid high inflation and other distortions,” says Venezuela-born Latin America specialist Gilbert W. Merkx, who directs the Duke University Center for International Studies. “You can either get very rich or lose a lot [...]

From the Washington Post:
Colombian drug kingpins in league with corrupt Venezuelan military officers are increasingly using this country as a way station for smuggling cocaine to the United States and Europe, according to Colombian and U.S. officials. The Bush administration’s dismal relations with Venezuela’s government have made matters worse, anti-drug agencies say, paralyzing counternarcotics cooperation.
Venezuela [...]

From the AFP:
Rights campaigners Global Witness called Tuesday for Venezuela to be excluded from the international diamond market, accusing it of undermining the fight against trade in so-called blood diamonds.
The group called on the European Commission to expel Venezuela for “flagrant non-compliance” with the Kimberley Process (KP), the regulatory system designed to prevent trade [...]

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 [...]