They tried doing that in Weimar Germany when the reichsmark became worthless due to hyperinflation.
They had to curb spending and introduce a new currency to get that under control.
In Venezuela, the government never seems to run out of money even though it can’t buy anything and you can’t buy anything anyway under socialism.
Weimar backed their currency with real estate temporarily.
I bet Maduro, Chavez’s relatives and the other thieve have their wealth stored in dollars.