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Our fund raising round was not successful.  As a result, IDB will be going off line and into cold storage.  If our competitors should stumble, I may re-active the site in the future but for now, we're turning out the lights.

I had planned to go off-line on April 4th.  Due to some important and unplanned changes in our maintenance schedule, I am now bumping that up to next Tuesday morning, March 27th, 2018.  PM 'admin' if you need to reach me. 

You should use the next 5 days to find a new home for your community.

Running IDB has been fun over the years and I hope you enjoyed your time here as well.  Sincerely,  Paul

P.S. News on IDB Funding -- this is now on it's own page to clean up the site a bit.

A Golden Security Nightmare

A Golden Security Nightmare

schiffgold.com / BY SCHIFFGOLD / JULY 5, 2017

How’s this for a nightmare scenario?

You’re driving a truck filled with tons of gold along a public highway and you blow a tire.

This actually happened in India back in the early 1991, and it underscores the importance of security for your gold.

India went through a severe foreign exchange crisis in the late 80s and early 90s. This eventually prompted the Indian government to pledge its gold reserves in order to avoid default on overseas payment obligations. The government eventually worked out a deal with the Bank of England that involved airlifting 47 tons of gold from the Reserve Bank of India to England. At the time, the gold was valued at $407 million.

This brings us to our ill-fated truck filled with millions of dollars in gold. A story in the Economic Times explains what happened.