And the hits just keep on coming! Time to read between the lines…
Ecuador Sends Gold Reserves to Goldman Sachs in Exchange for “Liquidity”
“Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.”
“The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now. In return, Ecuador will get “instruments of high security and liquidity” and expects to earn a profit of $16 million to $20 million over the term of the accord.”
“Gold that was not generating any returns in vaults, causing storage costs, now becomes a productive asset that will generate profits,” the central bank said in the statement. “These interventions in the gold market represent the beginning of a new and permanent strategy of active participation by the bank, through purchases, sales and financial operations, that will contribute to the creation of new financial investment opportunities.“
Since when are “interventions in the gold market” legal?? Isn’t Goldman Sachs aiding and abetting this Central Bank in the gold market interventions?? I guess there are no laws when it comes to the Banksters.
Reading between the lines…
If a central bank announces a gold loan to the public there’s an ulterior motive!!
Given the headline promotion of “LIQUIDITY” I would venture to guess that the cabal wants other countries to cough up their gold in an up coming “LIQUIDITY CRISIS”!!
May the Road you choose be the Right Road.