Compass Investments

– Trump has called for an audit of Fort Knox after a CIA employee was accused of stealing $40 million dollars worth of gold.

David Rush allegedly stole more than 300 gold bars from the federal government and embezzled them.

Fort Knox is home to 59% of America’s gold reserve, which hasn’t been independently inventoried since 1974.

Trump renewed his call for a physical inspection of Fort Knox after a former high-ranking CIA agent was accused of stealing more than 300 gold bars worth more than $40 million from the federal government.

These allegations have brought increased attention to the mechanisms for tracking and verifying U.S. gold holdings. Fort Knox has not been subject to an independent public audit since 1974.

David Rush, a former CIA operative with top-level security clearance, was arrested May 19 and charged with willful misappropriation of government funds, according to federal court documents in Virginia.

From November through March, Rush solicited and received substantial amounts of gold bullion and foreign currency under the guise of official expenses, according to the FBI motion. His intentions regarding these assets remain unclear.

Federal agents searched his residence on May 18, finding more than 300 gold bars worth more than $40 million, about $2 million in cash and 35 expensive watches. He was arrested the next day.

The FBI, working with the CIA and the Justice Department, determined that Rush had probable cause to believe he had committed theft and misappropriated government property. His attorney declined to comment.

Investigators also found that Rush had apparently misrepresented his professional background, including false claims of serving as a Navy pilot and holding degrees from two universities.

This arrest instantly drew the attention of politicians. Trump, in a Truth Social post, linked the incident to the Fort Knox revision issue he’s been raising since early 2025.

Trump mentioned Fort Knox in a May 10 interview, saying he still wants to personally inspect the contents of the storage facility. I’d like to visit Fort Knox someday. I want to see if there’s gold there, and I’m sure there is.

Fort Knox contains approximately 147 million ounces of gold, which is about 59% of the official U.S. reserves, valued at approximately $700 billion. The scale of these reserves has spurred interest in cryptocurrency-based tokenized gold markets, which are gaining popularity during the gold rally in 2026.

US Treasury Secretary Janet Yellen refuted these concerns. She assured that all the gold is in place and the Treasury Department conducts an annual internal audit. She invited any member of Congress to visit and see for themselves.

Official timeline for the audit has not yet been announced. The Department of Performance Management, which previously floated the idea of an audit, has not provided a specific plan.