Diamond market Crapping Its Pants?
 

Interesting timing on this.

http://news.yahoo.com/blogs/technolo...013025163.html

Diamonds aren't as rare as De Beers likes you to think.. It's just a product that has been manipulated on a grand scale world wide.

Back when I was a slave working the diamond mines of Sierra Leone, we used to dream of a large discovery somewhere else so we could catch a break.

Correct.

They are actually very common. However, De Beers buys up all of the mines, and only releases so many per year. Basically manipulating the market and control of them. There are a number of documentaries on this. It's interesting to say the least.

:2 cents:

Here's a classic article on the DeBeers diamond cartel: http://www.theatlantic.com/magazine/...iamond/304575/

i guess there is going to be another war

No they are not rare they are controlled.

so I can stop digging in my backyard than?

Yup very true:2 cents:

DeBeers greatest marketing company ever! :pimp

This is as true as can be - diamonds were distributed to "sites" (sp?) who were given bags to buy. They were allowed to refuse one bag in their lifetime. DeBeers has vaults of diamonds and only releases them sparingly create demand.

i like Crapping in my Pants....

I guess it will be pretty hard to control the market now. I was a slave in Johannesburg mines, DWB, I feel ya on that. They dont stop at the mouth anymore when they're doing cavity checks. Had to quit or die.

So this info has been pooling around Putin's office for some 10 years. Why release it now?
Get China to calm down? Give Israeli's something else to worry about?

Does it mean when I go to buy engagement ring for wife #4 I can get 4 carats from crackerjack box?

Timing is everything nowadays. Just curious. If released, this glut of stones could seriously depress prices, oh, I get it now. lol.