Lil' Wayne is the cause of the diamond shortage.
Posted on 04/25/2010 5:06:50 PM PDT by mainsail that
De Beers says it will reduce its production to extend the life of its mines. Taking into account the moderated output diamond prices could rise by at least 5 per cent a year for the next five years, according to Des Kilalea, a diamond analyst at RBC Capital Markets. In 2008 De Beers produced 48m carats and the company will cut production to 40m in 2011. In the last two decades the industry has found no new diamond deposit to match the two biggest mines in Africa, owned by De Beers, or the best Russian mines of Alrosa, the other big diamond producer. Gareth Penny, managing director of De Beers, told the Financial Times: "Do we want to ramp production back up to 48m carats, given the lack of availability in the future?"
(Excerpt) Read more at telegraph.co.uk ...
utter rubbish. They want to continue to make the world believe that diamonds are rare.
Geez, this new paradigm is freaky.
Marketing gimmick?
“quick I need to buy a diamond right away before they’re gone!”
Oh noes!!! How do we play our phonograph records?
“A diamond is forever...” (overhyped and overpriced)
Who cares? We can just buy used diamonds.
>>Grain of salt: De Beers accounts for 40 per cent of global rough diamond sales.<<
Sales VP: “Hey! Here is an idea! Let’s tell everyone we are running out of diamonds! If they are stupid enough to vote for (in the US) and support (in the rest of the world) pre-election obama, they are stupid enough to believe anything!”
If things were profitable, they would be mining like mad to get the money out of the ground ASAP, before the third world nations, like South Africa, decide to nationalize DeBeers' diamond mines.
http://www.edwardjayepstein.com/diamond/prologue.htm
THE DIAMOND INVENTION
Ad the bear stopped defecating in the woods...
I don’t mind; Mrs. TTR has some impressive diamonds.
We consider it the “bribe the border guards” fund in Obama Changed America.
Somewhere there is a cache of 500 millions TONS of diamonds.
It just has to be discovered.
Lil' Wayne is the cause of the diamond shortage.
DeBeers is a criminal operation. If they were headquartered in the US instead og Great Britan, they would be brought up om RICO charges. All they want to do is raise the price of diamonds. I have read extensively about DeBeers. They also turn a blind eye to and tacitly approve the sale of blood diamonds.
Bullsqueeze!
Russia has 100+ BILLION dollars (at today’s artificially inflated prices) stored in vaults!
BeBeers is one off the biggest con game monopolies on the planet.
I saw a special on diamonds once. It talked about all the diamonds that DeBeers hoards, releasing only a certain number, in order to drive the price up.
Very true, but my next reaction is a yawn. It’s like DeBeers convincing the world that Pet Rocks are rare and upping the prices. It only affects those stupid enough to buy the crap.
Since my car doesn’t run on diamonds, and since I don’t plan to get married any more, I won’t really care how much they cost.
and the tons of stones they have kept off the market up till now? what about them???
Check out moissanite.
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