Making money has long been a part of the Bush family legacy. In fact, the Walkers 1, the maternal influence as the wife of Prescott Bush, George Walker Bush’s father, also were known as financiers and financial wizards.
In the early 20th century, the Bush name was associated with steel mills and railroads, and was soon entangled in the newly booming oil business. President Bush II, however, amassed his fortune primarily in oil, diversifying beyond his family’s interests. During both presidential campaigns, many reporters looked into and wrote stories about the wealth of the Bush family and how it was acquired.
There’s Gold in Them Hills
However, some of the most intriguing stories about the Bushes and their financial interests center on their gold investments, and specifically their involvement with Barrick Gold. This company purchased old mines in Las Vegas that have subsequently shown to contain more than $10 billion in gold ore reserves.
It is unknown how much interest any Bush holds in these mines today, but in addition to this mine, the Bushes (primarily Bush I) have invested or been involved with gold mines around the world, including several in South America.
Presidents and presidential candidates are required to make various financial disclosures at various times, and these have not shown any significant holdings of gold bullion. However, the latest disclosures from Bush II I showed he had at least $2 million in a diversified trust that had some interests in gold and gold assets.
The financial disclosure statement for Jeb Bush put his financial worth somewhere north of $25 million, with the bulk of his investments in and income from real estate. There is no specific disclosure of what he or his wife Columbia may own in gold bullion or gold-related assets.
Gold Attracts Both Sides of the Aisle
Of course, the allure of gold attracts both sides of the political spectrum, and that includes controversy. Just as many raised questions about the Bush-Barrick connection, many eyebrows were raised over the Clinton connection to Haitian mining rights.
According to a number of news reports, Hillary Clinton’s brother was able to secure a very attractive gold-mining contract in Haiti. Unfortunately, it is alleged by some this opportunity came only as a direct result of the relief work Bill Clinton did after the country’s massive earthquake. A book is expected soon detailing how VCS Mining was awarded a lucrative contract that benefited insiders—only one of two such permits granted in more than a half-century. However, the Clintons deny any conflicts in the granting of the license.
Interestingly, more than a few pundits and market analysts have written with a strong belief that the Bushes and Clintons most likely own a fair share of gold due to current economic times. They indicate these families have special insight into the economic tealeaves and see the current Fed policies as one reason to move to gold investments as a solid hedge against the virtually assured inflation to come.
1 – http://www.michaelkranish.com/Michael_Kranish/Bush_Family_History.html