Tag: gold

‘Crisis Preparedness’: Dutch Move Billions In Gold Out Of US As Goldman Warns Of ‘Geographic Concentration Risk’

The Netherlands’ central bank transferred nearly 90 metric tons of gold bars from the United States and Canada to Britain amid growing concerns of “increasing geopolitical unrest,” according to CNBC.

“With this relocation, we have improved the tradability of our gold reserves. We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness,” DNB Governor Olaf Sleijpen said of the development.

Roughly 25% of the gold reserves stored in New York and Ottawa were moved to London over the summer.

CNBC reports:

The transferred gold is now stored with the Bank of England because gold stored there must meet international trade standards and is recognized as “the world’s most easily tradable gold,” DNB said, adding that the move strengthens its “crisis preparedness.”

By contrast, DNB said the gold bars held in the U.S. and Canada could not be utilized as quickly and directly in a crisis situation.

The bank holds 30.8% of its 612.4 tons of gold reserves at its cash center in Zeist, southeast of Amsterdam.

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How The First World War Destroyed The Gold Standard

As Trump’s “Secretary of War” Pete Hegseth demands a fifty-percent increase to the war budget—topping an eye watering $1.5 trillion—it may be instructive to remember that war spending has always and everywhere been the primary enemy of sound money. Some advocates of the warfare state like to lay the blame on social spending, but it has historically been wars that end up ruining currencies and blowing the top off the public fisc. While social spending can indeed be crippling, and certainly empowers the ruling class, it is the fiscal demands of war that cause enormous surges in public spending to levels that would have never been politically unjustifiable for mere pension programs. Rather, it is during wars that government budgets will triple or quadruple, or, —in the case of Britain during the Great War—increase by a factor of twelve. Moreover, it’s important to note that in cases like these, tax revenues rarely keep up. During the war in Britain, for example:

Part of the military spending was paid for with cuts to other spending; civil spending fell from 10% of GDP to 5%. Still, even together with tax increases, this could not match the growth in war-related spending. While tax revenues quadrupled during the war years, expenses increased by a factor of twelve. So, only 25% of spending was met by taxes in the five fiscal years starting April 1, 1914. 

More “moderate” increases were also enormous. In France total government spending, fueled by war spending, increased from 10.5 billion francs in 1914 to 46.9 billion francs in 1918. The German state’s spending rose 17 fold during the war, rising from 3 billion marks in 1914 to 52 billion marks in 1918. 

In France, as in Britain, the United States, Germany, and the other belligerents of the war, massive war debts made up for enormous gaps between tax revenue and total government spending. The European governments generally chose to monetize much of this debt, rather than raise taxes enough to cover war costs. France, the UK, and Germany, “relied much more heavily on debt and inflation than on taxation to fund government spending.” Consequently, monetary inflation was significant: 

German debt … became monetized and the volume of new currency exploded. German currency in circulation rose 599 percent over the course of the war … Great Britain and France saw an increase of money in circulation of 91 and 386 percent respectively.

These enormous surges in deficits and spending over such a short period are rarely, if ever, seen in connection to social spending. Rather, runaway government spending, to the point of increasing total spending by five or ten fold, is justified on the back of a complex of nationalism, fear, and propaganda claiming that “winning” the war—what constitutes victory is defined by the elites, of course— is worth any expense.

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Senator Rand Paul Reveals What He Found After Going Underground Inside Fort Knox to Inspect America’s Gold

Senator Rand Paul (KY) went to Fort Knox in northern Kentucky on Monday to inspect America’s gold.

According to the US Mint, the last full audit of America’s gold reserves stored at Fort Knox took place in 1953. There was a partial audit in 1974.

Over the decades, rumors have swirled that the gold stored at the US Bullion Depository was swapped out with gold-plated tungsten.

Rand Paul went underground at Fort Knox on Monday to ‘inspect’ the gold.

“I’m at Fort Knox. We’ve come to see the gold. Our country has about 147 million ounces of gold, and about half of it is stored here at Fort Knox,” Paul said.

“We’re going to be going deep underground to see the gold, but more importantly, we’re going to be talking about what happened to the dollar when we separated from gold in 1971. Over 85 percent of the value of the dollar has been lost since we de-linked from gold,” he added.

“So there is a problem. The media now calls this affordability, but what it really is is inflation.”

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The 667-pound clue spy agency missed in David Rush’s gold bar scandal: ‘Humiliation for the CIA’

The CIA should have known something was off the moment ex-officer David Rush demanded 667 pounds of gold bullion.

Instead of requesting diamonds or rare gems — the far lighter, more mobile currency the agency has long favored for clandestine work — Rush asked for heavy gold bars, a choice a former senior CIA official told The Post was an obvious red flag.

Now Rush is incarcerated in an Alexandria, Va., lockup and charged carrying out a massive theft – although it is the spy agency itself facing tough questions from lawmakers about how he was ever allowed to get this far.

The first clue is the gold itself.

“You tend to go in other directions because it’s lighter. Precious jewels are better. Diamonds are better,” former CIA Iran targets officer Reuel Marc Gerecht told The Post.

“People don’t realize how heavy money is. It was regularly a problem for large payments – particularly if you’re trying to do it clandestinely. You could just weigh yourself down with cash. Gold – you’d need mules,” he exclaimed.

The security breakdown allegedly allowed Rush, who had a top secret security clearance, to hoard in stages 303 gold bars valued at $40 million and weighing 667 pounds.

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This Is The Deep State On Parade Like A Naked Emperor

In the annals of Deep State WTF-ery, is there a stranger case than CIA officer David Rush turning up with $40-million in 303 one-kilogram gold bars, plus $2-million in cash, plus a stash of 30 mostly Rolex watches?

Well, yeah, the stranger story is how the guy got hired by the CIA in the first place.

Rush was arrested on Monday, May 18, by an FBI SWAT team at his home in Loudoun County, VA. Agents searched the house all day long and found the stash. Rush is currently charged with theft of public money and allegedly falsifying his military and academic credentials to obtain federal employment benefits, including roughly $77,000 in improper military leave pay. He’s scheduled to make a federal court appearance in Alexandria today.

Rush first applied for a job at the CIA in March 2006. He claimed to have a bachelor’s degree in math from Clemson University and a master’s from the Rensselaer Polytechnic Institute (RPI). He was rejected. He reapplied later that same year. Bumped again. He reapplied again in 2009, adding a new credential: that he’d been a US Navy test pilot and flight trainer. This time, he was hired.

Rush’s college credentials were found to be false, but it is unclear when that was discovered. Since he included them in his two earlier 2006 failed applications, why were they not flagged in his successful 2009 application? His claim of being a US Navy pilot was also found to be false (he was an information systems tech in his Navy service). The FBI affidavit unsealed recently details the pattern of lies across all applications.

Understand that CIA vetting procedures are supposed to be exceedingly rigorous. The process is stressful and invasive — many candidates drop out or are weeded out. The background check involves interviews with practically everybody who knows the applicant going back decades, his criminal history, work, financial history, education, military service. The applicant gets a polygraph exam. Even after getting hired, monitoring continues.

Rush was hired at the very start of the Obama admin; Leon Panetta was the newly appointed CIA Director. Wouldn’t you like to hear him ‘splain how David Rush managed to get hired? Was somebody smoothing his way in? Rush rose to become a senior executive service (SES) officer with a top-secret (TS/SCI) security clearance. His exact duties, the division he worked for, his day-to-day responsibilities have not been disclosed.

Rush allegedly requested the gold and foreign currency from the CIA for “work-related expenses” between November 2025 and March 2026. The agency later could not account for the assets or locate records explaining their official purpose. A search of a storage locker at CIA connected to Rush turned up only a small amount of the requisitioned cash.

“There is a whole process that we go through to get that money. I don’t just walk into the logistics office and say ‘Excuse me, I need $100,000 tomorrow.’ There is a form I have to fill out. It’s not a bank vault you walk into. It doesn’t work like that.” — Tracy Walder, 46, a former FBI special agent and CIA officer, quoted in The New York Post.

Wouldn’t you assume that some higher-up CIA officer would have to sign off on such a colossal requisition of gold and money? (And where does the CIA get so much gold on-demand?) Perhaps the very Director of the CIA approved it — which would be John Ratcliffe through 2025 up to right now. Doesn’t he have some ‘splainin’ to do? (Was Rush set-up? Was this a sting?)

Assuming Rush spent some period of time as an entry-level CIA employee, when did his rise to SES level happen? John Brennan became CIA Director in early 2013 (the start of Barack Obama’s second term). What were David Rush’s relations with John Brennan? Was Brennan his mentor? Does the gold stash have any connection with the current legal problems of John Brennan and other former high officials involved in the long-running “grand conspiracy” case about the attempted overthrow of a president?

You might imagine that Rush’s phone and computers were seized in the May 18th raid on his house — though it’s unlikely he used such conventional channels for black ops chatter. It’s conceivable, though, that any alt-communications of his were captured by the vast national security surveillance apparatus, and that DNI Tulsi Gabbard might have come across them this past year. How else might Director Ratcliffe have been tipped off?

This story is not going away. The scale of the grift is spectacular and vivid — 303 gold bars! — like a Hollywood movie. Rush’s explanation of “work-related expenses” sounds preposterous. If the requisitions were made serially, over several months, as appears, then the agency had more than one opportunity to review and question them.

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Former Senior CIA Officer With Top-Secret Clearance ARRESTED After FBI Raid Home And Seize 300 Gold Bars Worth $40 Million — Plus $2 Million Cash And 35 Luxury Watches

A former senior CIA officer with top-secret security clearance has been arrested after federal agents raided his Virginia home and seized roughly 300 gold bars worth more than $40 million, along with approximately $2 million in cash and 35 luxury watches, mostly Rolexes.

The officer, identified as David Rush, who held a management position at the agency, now faces charges of criminal theft of public money.

According to NBC News, Rush allegedly used his position to request large amounts of gold and foreign currency, claiming they were for “work-related expenses,” only to allegedly divert and stash them at his Fairfax County residence.

On May 18, federal agents searched the home and walked out with the massive gold hoard. Investigators had earlier found only a portion of the funds in a storage space near his office.

Rush had requested the assets between November and March, according to an FBI affidavit.

The CIA’s own internal audit couldn’t account for the gold or significant foreign currency, prompting CIA Director John Ratcliffe to refer the matter to the FBI for criminal investigation.

More from NBC News:

Asked about Rush’s case, a CIA spokesperson said in a statement joint statement with the FBI that the FBI had arrested a person after a referral from the agency.

After a CIA internal investigation identified potential violations of the law, CIA Director John Ratcliffe referred the information to the FBI for a law enforcement investigation,” the written statement said. “The FBI is working closely with our partners at the CIA and the Department of Justice as we continue to investigate this matter fully. We are committed to following the facts, ensuring accountability, and pursuing justice in accordance with the law.”

The case raises questions about the effectiveness of the federal government’s security vetting, which is supposed to ensure intelligence officers or other government employees don’t betray the public trust or spy for foreign countries.

The U.S. government conducts background investigations on every prospective employee at the CIA and other agencies granted access to sensitive and secret information. And after employees are hired, the government continues to monitor their financial activities, travel, credit records and other information through automated checks to ensure they aren’t vulnerable to blackmail.

The Defense Counterintelligence and Security Agency, which falls under the authority of the Office of the Director of National Intelligence, oversees the background check program, known as “continuous vetting.” When the program flags a potential problem or anomaly in an employee’s records, officials investigate further.

It wasn’t clear how the investigation into Rush began, and it also wasn’t clear when he left the CIA. His home was raided just last week.

Rush is also accused of a long-running fraud scheme in which he allegedly falsified time sheets, inflated his hours, and lied about his background for nearly two decades to secure and maintain his high-level position and extra pay.

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India Panics, Further Tightens Gold Flows As Rupee Collapses

With the Rupee accelerating its declines to ever lower record lows against the dollar, Indian authorities have stepped up capital controls, focusing on curbing demand in the gold ‘exit’ route.

4 days ago, there were no signs of import duty hikes as Prime Minister Narendra Modi  issued a rare weekend appeal urging citizens to forgo gold purchases as well as unnecessary foreign travel in order to help hold up the currency..

2 days ago, tariffs were more than doubled on gold and silver imports to 15% and 6% respectively.

And today, they are doing even more with India now tightening the advance authorisation route, effectively capping how much gold individual exporters can bring in through that channel. 

A government notification stated that imports of bullion exceeding 100 kilograms would be subject to prior authorization, adding that any subsequent imports would only be granted after exports equivalent to 50% had been carried out.

The notification also introduced stricter checks for first-time applicants seeking permission to import gold under the scheme.

The government has also linked future import approvals to export performance.

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Brazil Quietly Shifts Away from the Dollar to Gold

The Banco Central do Brasil has raised gold’s share of reserves from 3.55% to 7.19% in just one year, effectively doubling its exposure and making gold the second-largest reserve asset after the US dollar, while total reserves stand at approximately $358.23 billion and the dollar’s share has declined to about 72%, marking a record low. This is not a marginal adjustment or routine diversification, it is a structural repositioning that reflects a growing unease with sovereign debt markets.

When a central bank reduces dollar exposure while increasing gold holdings, it is not acting randomly but responding to a shift in confidence, and this aligns directly with the broader trend we are witnessing globally as central banks collectively purchased roughly 863 tonnes of gold in 2025 and are expected to remain strong buyers into 2026. The driving forces behind this are not inflation in the traditional sense, but geopolitical fragmentation, the weaponization of reserves, and the realization that sovereign debt levels are no longer sustainable without continued central bank intervention.

Brazil’s move mirrors what we have been warning about for years, which is that capital flows, not trade balances, dictate the strength of currencies, and once confidence begins to erode in government debt, that capital begins to migrate into assets that are not someone else’s liability. Gold fulfills that role because it cannot be printed, defaulted on, or frozen by a foreign government, and this becomes critical in a world where sanctions and financial restrictions are increasingly used as political tools.

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Scientists mimicking the Big Bang accidentally turn lead into gold

Medieval alchemists dreamed of transmuting lead into gold.

Today, we know that lead and gold are different elements, and no amount of chemistry can turn one into the other.

But our modern knowledge tells us the basic difference between an atom of lead and an atom of gold: the lead atom contains exactly three more protons. So can we create a gold atom by simply pulling three protons out of a lead atom?

As it turns out, we can. But it’s not easy.

While smashing lead atoms into each other at extremely high speeds in an effort to mimic the state of the universe just after the Big Bang, physicists working on the ALICE experiment at the Large Hadron Collider in Switzerland incidentally produced small amounts of gold.

Extremely small amounts, in fact: a total of some 29 trillionths of a gram.

How to steal a proton

Protons are found in the nucleus of an atom. How can they be pulled out?

Well, protons have an electric charge, which means an electric field can pull or push them around. Placing an atomic nucleus in an electric field could do it.

However, nuclei are held together by a very strong force with a very short range, imaginatively known as the strong nuclear force. This means an extremely powerful electric field is required to pull out protons – about a million times stronger than the electric fields that create lightning bolts in the atmosphere.

Keep reading

Scientists mimicking the Big Bang accidentally turn lead into gold

Medieval alchemists dreamed of transmuting lead into gold.

Today, we know that lead and gold are different elements, and no amount of chemistry can turn one into the other.

But our modern knowledge tells us the basic difference between an atom of lead and an atom of gold: the lead atom contains exactly three more protons. So can we create a gold atom by simply pulling three protons out of a lead atom?

As it turns out, we can. But it’s not easy.

While smashing lead atoms into each other at extremely high speeds in an effort to mimic the state of the universe just after the Big Bang, physicists working on the ALICE experiment at the Large Hadron Collider in Switzerland incidentally produced small amounts of gold.

Extremely small amounts, in fact: a total of some 29 trillionths of a gram.

How to steal a proton

Protons are found in the nucleus of an atom. How can they be pulled out?

Well, protons have an electric charge, which means an electric field can pull or push them around. Placing an atomic nucleus in an electric field could do it.

However, nuclei are held together by a very strong force with a very short range, imaginatively known as the strong nuclear force. This means an extremely powerful electric field is required to pull out protons – about a million times stronger than the electric fields that create lightning bolts in the atmosphere.

Keep reading