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.
Wow. They really haven't been paying attention very much have they.
Ecuador: Let me help you. You're never getting that gold back.
I don't think ecuador has a lot of choice, the deal is probably done by some kind of blackmail or threat