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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.

Silver Is Now Offered At a Discount

Silver Is Now Offered At a Discount

silverseek.com / by Keith Weiner / Monday, July 3rd

Have you ever been in a discussion about gold, when someone blurts out “we don’t have enough gold to operate a gold standard!” We have a standard retort. “Oh, that’s interesting. Please tell us how much gold you think would be necessary, and how you calculated it.”

We have never heard a coherent answer to this question. Most people just don’t like gold, and will say whatever words they think will dismiss the monetary question entirely, without actually having to address the issues.

The common answer from the gold community is not much better, “We could have a gold standard, if gold was at the right price.”

Here is the typical logic: divide the money supply by the amount of gold. The result tells you the price of gold to fully back the money supply. Let’s first use M1 (we are aware that which measure of money supply to use is debated, but we don’t think it much matters). M1 today is $3.5 trillion, according to the Fred Economic Data published by the St Louis Fed.

Divide this by the amount of gold. Often, this is supposed to be the amount of gold held by the Fed itself, some 8,133 tons or 261.5 million ounces. The answer comes out to $13,400 per ounce.