The recently announced swaps deal between Goldman Sachs and Ecuador involving the exchange of 13 physical tonnes of gold for $585 million in “highly liquid” paper raises the question of why the parties simply didn’t enter into a gold leasing arrangement.
Precious Metals Fund Manager Dave Kranzler cuts through the aromatic cloud hanging over the deal to address this and other key issues affecting the PM markets in the video below.
Ecuador: The Gold, the Bad & the Goldman
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