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CIA's Mysterious "Black Budget" Gold Bar Scheme Blows Up

Money Metals' Weekly Market Wrap Podcast

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**Podcast:** Money Metals' Weekly Market Wrap on iTunes

## Transcript

Welcome to this week's Money Metals Podcast, helping gold and silver investors during these turbulent times. Now, this week's Market Wrap with commentary and analysis from Money Metals Exchange, a company named Best Overall Precious Metals Dealer by Investopedia. Welcome to this week's Market Wrap Podcast. I'm Mike Leeson.

Coming up, we'll have a fascinating interview with Kai Hoffman, CEO of Soar Financial and host of the well-known and highly regarded Soar Financially podcast. Mike Meharry dives into a range of topics with Mr. Hoffman as they discuss what's really happening in the precious metals markets given the ongoing headwinds of the Iran war and whether the inflation we're seeing right now is simply a matter of the oil shock

or if there are deeper issues that will be more long-lasting if and when we finally do get a peace deal in Iran. Kai, based in Germany, gives us a European perspective on gold ownership and some of the differences and similarities between bullion investors in the U.S. compared to those in Europe. So stick around for another tremendously insightful conversation with a man who has a wonderful pulse on precious metals, the economy, and the markets as a whole, Kai Hoffman, coming up after this week's Market Update.

And as a reminder, please download, like, rate, and subscribe to this podcast wherever you consume this content. Well, it looks like we can add CIA clandestine operations to the list of uses for gold in this day and age. A former senior CIA official was just implicated in a scheme to apparently steal about $40 million in so-called black budget gold bars,

bars that he obtained from his U.S. government employer for unspecified work-related expenses. The ex-CIA official, David Rush, was arrested on May 19th, the day after the FBI raided his home and found the allegedly misappropriated gold. According to charging papers, the FBI initially investigated Rush for lying on his resume. For instance, Rush allegedly claimed in an application to enter the senior executive service ranks

that he was the director of tests for a joint Army-Navy weapons test organization. However, his military records showed that he was separated from the Navy in 2015. As its investigation progressed, the FBI allegedly found that Rush made several requests to the government to obtain a significant quantity of foreign currency, as well as tens of millions of dollars in gold bars for work-related expenses from last November to this March.

The charging papers don't explain what those work-related expenses entail, nor do they identify Rush as having worked for the CIA. It was the New York Times that reported Rush's CIA background. Presumably, the gold was intended for one or more covert operations. The charging papers do say that the gold went missing from the government's storage space where it was supposed to have been held.

The report also states th...

CIA's Mysterious "Black Budget" Gold Bar Scheme Blows Up

Transcript

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CIA's Mysterious "Black Budget" Gold Bar Scheme Blows Up

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.