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Old 09-19-2012, 09:55 AM  
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Sell your diamonds now.

If you believe this article, they may be sold next to the Trident Sugarless Gum at the 7-11 in a few years.

I'm a little skeptical of the 'twice as hard' claim. Can one diamond actually be harder than another? Nonetheless, any story about asteroids, diamonds, and Russia is worth posting.

http://www.dailymail.co.uk/news/arti...st_read_module

'We are speaking about trillions of carats': Russia reveals vast diamond source under 62-MILE-WIDE asteroid crater which could supply world markets for next 3,000 years


Russia is about to start tapping into a huge source of diamonds that could supply the world market for the next 3,000 years.

Scientists estimate there are 'trillions of carats' lying beneath a 35million-year-old asteroid crater in Siberia - more than ten times the global stockpile.
The Kremlin has known about the reserves under the 62-mile-wide impact zone since the 1970s.

But it has kept it a secret until now because it was already reaping big profits in what back then was a heavily controlled market.

The Soviets had also been producing various artificial diamonds for industry which proved a lucrative enterprise.

Government officials finally gave scientists from the nearby Novosibirsk Institute of Geology and Mineralogy permission to lift the lid on the crater's hidden gems in a meeting with journalists over the weekend.

The official news agency, ITAR-Tass, said the diamonds at the site, known as Popigai Astroblem, are 'twice as hard' as the usual gemstones, making them ideal for industrial and scientific uses.

According to The Christian Science Monitor, the institute's director, Nikolai Pokhilenko, told the agency that the new source would cause a radical shake-up in the precious stones market.

'The resources of super-hard diamonds contained in rocks of the Popigai crypto-explosion structure are by a factor of ten bigger than the world's all known reserves,' he said.

'We are speaking about trillions of carats. By comparison, present-day known reserves in Yakutia (a Russian mine) are estimated at one billion carats.'
The stones at Popigai are known as 'impact diamonds' which result when an object like a meteor strikes an existing diamond deposit.

They are also unique, which will make them even more sought-after in high-precision scientific and industrial markets.

Pokhilenko said: 'The value of impact diamonds is added by their unusual abrasive features and large grain size.

'This expands significantly the scope of their industrial use and makes them more valuable for industrial purposes.'

Diamond production was booming in Russia in 2007 when output reached $1.35billion, 98 per cent of which was exported to Belgium, Israel, South-east Asia and the USA.

But the bottom fell out in 2009 when polished diamond production fell to an unprecedented low of US$350 million during the economic crisis.
With world markets starting to show signs of resilience, this may explain why Russia has chosen now to reveal its hidden treasure.

Read more: http://www.dailymail.co.uk/news/arti...#ixzz26voBtv00
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Old 09-19-2012, 10:00 AM   #2
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they will have no interest in flooding the market. It behooves them the same s DeBeers to horde and keep prices inflated.
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Old 09-19-2012, 10:01 AM   #3
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I thought the claim diamonds are rare on Earth was already just a myth created by the diamond brokers
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Old 09-19-2012, 10:04 AM   #4
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Isnt there like 2 companies that controls 99% of the Diamond market, shrinking the supply so low? Somewhere I read diamonds are a very common stone already.
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Old 09-19-2012, 10:04 AM   #5
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Diamonds aren't actually all that rare. Never have been. Their price is a result of artificial controls, brilliant marketing, and stupid consumers (not that I don't also partake of that, for the benefit of my wife).
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Old 09-19-2012, 10:06 AM   #6
Amnorix Amnorix is offline
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Quote:
Originally Posted by L.A.Chieffan View Post
Isnt there like 2 companies that controls 99% of the Diamond market, shrinking the supply so low? Somewhere I read diamonds are a very common stone already.

They are fairly common, but no longer controlled by DeBers to the extent they used to be.

However, diamond rarity is a relative thing -- not all diamonds are the same, and it's true that the clearer it is, the rarer it is.
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Old 09-19-2012, 10:09 AM   #7
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Old 09-19-2012, 10:09 AM   #8
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Cool; now my wife's Zirconium wedding ring will be worth more than a real diamond ring. I told her to stick by me and I'd put her on top of the world.
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Old 09-19-2012, 10:35 AM   #9
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I heard none of those diamonds are viable for jewelry anyways.
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Old 09-19-2012, 11:07 AM   #10
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Quote:
Originally Posted by stonedstooge View Post
I thought the claim diamonds are rare on Earth was already just a myth created by the diamond brokers
yeah, it is.

that's why I laugh at idiots who spend 6 months salary on an engagement ring or any other diamond for that matter. One of the biggest scams of all time and people still fall for it.
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Old 09-19-2012, 11:11 AM   #11
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Diamonds are ****ing stupid anyway. Why on earth is there value for some stupid little rock. How on earth is a little stupid rock worth 10K+? The funny part is you can make them synthetically to look just as good for 95% cheaper, yet ppl still buy "real" ones. Makes no sense. There is no practical or tangible reason for why they are worth so much other than dumb ppl demand them.
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Old 09-19-2012, 11:17 AM   #12
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in Soviet Russia, diamonds buy you.
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Old 09-19-2012, 11:29 AM   #13
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in Soviet Russia, diamonds buy you.
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Old 09-19-2012, 11:31 AM   #14
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Originally Posted by BWillie007 View Post
Diamonds are ****ing stupid anyway. Why on earth is there value for some stupid little rock. How on earth is a little stupid rock worth 10K+? The funny part is you can make them synthetically to look just as good for 95% cheaper, yet ppl still buy "real" ones. Makes no sense. There is no practical or tangible reason for why they are worth so much other than dumb ppl demand them.

It's more meaningful if you know that African people were killed to obtain them.
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Old 09-19-2012, 11:35 AM   #15
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yeah, it is.

that's why I laugh at idiots who spend 6 months salary on an engagement ring or any other diamond for that matter. One of the biggest scams of all time and people still fall for it.
I got my wife an engagement ring that cost 2 euros. We were on the beach in Italy, and this dude was making jewelry. So I gave him a couple coins, bought the ring, and proposed.

Any woman who needs you to spend $5,000 on a piece of shit rock isn't worth marrying. I'm not saying that any girl who wants a diamond ring isn't worth it, but if it's a deal breaker for her, then that should be a deal breaker for you.

I have argued soooo much with my friends about this, but why the **** would you give one of the worst companies on earth any more money? What does it prove? You love her so much you'll spend money on nothing? How about donating $5,000 to cancer research in her name? Oh, I'm sorry... she can't trot that around at happy hour?

How about spending that money on furniture for your house? Because guess what? Nothing says "I plan on spending all of my time with you" like a giant comfy couch and 50 inch plasma. Your man ain't goin NOWHERE, honey.

But no... let's give some more money to a company that is only thinly differentiated from slavery to honor a "tradition" that is only decades old, and created by that same company.

What a racket.
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