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1
Preheat oven to 350 degrees (175 C.) and prepare a 12 cups (2825 ml) bundt pan with shortening and flour.
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2
In a heavy saucepan, over low heat, blend condensed milk, cream cheese, and chocolate chips until chocolate chips melt, then stir in the nuts.
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3
Cool 15 minutes, set aside.
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4
In small saucepan, over low heat, melt german chocolate in water and scrape the chocolate into a large mixing bowl.
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5
In the large bowl, blend the chocolate mixture and add the flour, sugar, baking powder, baking soda, salt, sour cream, butter, eggs and rum.
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6
Beat a good 3 minutes at medium speed to make sure all the ingredients are blended, then pour 3 to 4 cups (950 ml) of batter into the bottom of the prepared bundt pan.
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7
Next, spoon the cooled chocolate filling over batter, without touching any of the sides of the pan.
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8
Cover with remaining batter.
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9
Bake 50 to 65 minutes or until top of the cake springs back when touched lightly in center.
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10
Cool upright in the bundt pan on a rack for 15 minutes, then turn the pan onto serving platter.
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11
Cool completely to room temperature, and then refrigerate.
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12
Sprinkle top with powdered sugar or make a simple chocolate glaze.
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13
This cake is excellent served with vanilla ice cream.
