Special law to create the Strategic Petroleum Reserve to support the national currency of Venezuela

The bolivar, the national currency of Venezuela is totally destroyed. Suffice it to say that in 1999 when Hugo Chávez assumed the Presidency of the Republic, the bolivar / dollar exchange rate was 540 bolivars per dollar. Today, Friday July 16, 2021, the price of the dollar is 3,700,000 bolivars per dollar. But if the 8 zeros eliminated from the currency from 1999 to now are added, the real price of the dollar today is 370,000,000,000,000 bolivars, something unusual, incredible, that has happened very few times in the world.

To respond to this terrible reality, I have proposed together with SB Sociedad de Bienestar @SbSociedad a Comprehensive Reconstruction Program for Venezuela, which considers as a central point the recovery and strengthening of the national currency and for this I have proposed the creation of a new equivalent currency 1 to 1 to the dollar of the United States of America, thus following the example of other countries such as Germany, Argentina and Brazil that in similar circumstances adopted this measure to stop the devaluation, end hyperinflation and recover their economies.

Venezuela on its soil has two resources of great value: gold and oil. For this reason, I have proposed the creation of a Strategic Petroleum Reserve extracted from the subsoil and kept in large deposits whose monetary value is exclusively dedicated to serving as a backing for the national currency. In this way, the national currency would cease to be a fiat currency, without material support, and would become a representative currency with real value, material, tangible value, represented by a permanent world demand good such as oil.

For the purposes of creating the Strategic Petroleum Reserve to support the national currency, a Special Law or Decree Law is necessary in which its essential aspects are defined.

The Strategic Petroleum Reserve must be in the national territory of Venezuela but if necessary it can also be established in other countries with technical capacity to house the necessary quantities of oil.

https://www.researchgate.net/publication/334773987_Oil_as_an_instrument_to_support_the_currency_of_nations