He launched a coup d'état, with the support of many military officers who felt Banzer manipulated the armed forces for his own political ends. After Banzer was forced to leave the Palacio Quemado in July 1978, Pereda was sworn in as president, although not a constitutional one, since the fraud had been so conspicuous that it was plain to see. He did blame Banzer, however, and stated non-commitally that he would call new elections within a reasonable span of time.
He led a coup d'état with military backing, driven by officers who believed Banzer misused the armed forces for his political agenda. After Banzer was ousted from Palacio Quemado in July 1978, Pereda assumed power, though not constitutionally, due to the blatant illegality of his takeover. He blamed Banzer and hinted at future elections within a reasonable period.