Trillions of carats of diamonds!

[AUVnav]

Russia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing "trillions of carats," enough to supply global markets for another 3,000 years.Russia reveals shiny state secret: It's awash in diamonds - Yahoo! News

 

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[Jason in Enid]

1 - I seriously doubt it.
2 - DeBeers in SA has been stockpiling millions of the worthless rocks for decades. If it weren't for market manipulations, The gold in that diamond ring would be the only thing of value.

 

[gleaner1]

Diamonds suck. That is until you pull a big honkin' gold ring with a three carat stone outa the beach, then diamonds dont suck so bad. But they still suck.

 

[Jeffro]

That's a nice looking pipe. 99% of those trillions of carats will be industrial and have little value. The remaining 1% will be worthless if DeBeers isn't in on the project.

 

[BrutalBeck]

Russia already has semi loads of diamonds in stock. But, diamonds are like opinions and poop-chutes. . . well, you know the rest.

 

[rossman85]

1 - I seriously doubt it.
2 - DeBeers in SA has been stockpiling millions of the worthless rocks for decades. If it weren't for market manipulations, The gold in that diamond ring would be the only thing of value.

I agree with you, their best use is industrial

 

[BrutalBeck]

1 - I seriously doubt it.
2 - DeBeers in SA has been stockpiling millions of the worthless rocks for decades. If it weren't for market manipulations, The gold in that diamond ring would be the only thing of value.

I totally agree with Jason. If everyone knew of the stockpiles out there in SA and Russia. People would be buying other gems to put in their jewelry besides a chunk of basically, unbreakable glass. That is what diamonds are worth. Besides, with what I could do with my dremel tools and a band of gold. I could make a ring look much nicer, without the sparkle involved. I find it funny how some women think that fat rock on their finger, makes them look better then the woman sitting next to her. When really, in our opinions, isn't worth anything but, the sparkle effect.

 

[Jason in Enid]

I find it interesting that the "truths" of hundreds of years ago still hold true today because of marketing when the facts have changed so much.

In the past, a diamond truly was a rare gem. Nobody understood the geology of them, so that rare stone was worth a lot of money. Then the Kimberlite pipe was discovered in SA and it was figured out where diamonds come from. Since then, hundreds of pipes have been found and more are found every year. Diamonds are really no different than any other gem stone.

The only way to have true value in a diamond is to have a large, flawless specimen. Because 90% of the diamonds are held by a single company lets them manipulate the price as they want. Can you imagine what the cost of silver would be if a single company owned 90% of the worlds supply?

 

[BrutalBeck]

Thank you!!

Eureka!!