Pensado como una fábula, es la historia de un rey sin amor y sin corona, atormentado por sus delirantes recuerdos. En un viaje a través del sueño se descubre su origen: El Dorado, un país latinoamericano donde tiene su dominio político. Sus delirios y sueños, los miedos a sus víctimas, que amenzan con destruirle.
In a castle, somewhere in the Thirld World, Diaz is delirious, dreaming of the power he had in Eldorado, while oppressing the indians, workers and peasants. He is well aware of the menace his old victims represent, while a miracle-making shepherd fascinates and frightens him. Diaz finds a countrywoman, symbol of purity, and prepares a ceremony in his castle resembling his own funeral. The shepherd kills him and releases the woman.