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.
Monopoly marketing - they’re not hitting profit targets with volume so they’re going to target margin. No one else can step in and sell cheaper because they’re a cartel. Opec is a pack of lightweights compared to the grip these guys have on their commodity market.
I don’t buy this one iota.
De Beers are legendary manipulators of the diamond market since forever.
that is one ugly mutha
Diamonds are crashing in value. They are just trying to keep the price up. If they ever sold the tons of diamonds they have locked up in their vaults, you could use almost afford to use diamonds as ammo in sling shots.
An excellent read!
Yup. They aren’t rare, and, are relatively easily manufactured these days.
Diamonds running out? South Africa may be running out but Canada has enormous potential. “...With the largest Precambrian Shield on the Earth and diamond mines in two different Archean blocks (Slave and Superior cratons), where next should one explore in Canada? Quite a number of potential areas with high diamond potential were outlined last decade by Kjarsgaard (1998b), specifi cally within the Superior craton and in the enigmatic Churchill province. Since that time, quite a number of new discoveries have been made in both the Superior craton (e.g., Wemindji, Renard kimberlites) and Churchill province (e.g., Aviat, Repulse Bay, Rankin Inlet, Boothia Peninsula kimberlites). Both of these cratonic regions are quite large and are still underexplored. The lack of a comprehensive bedrock geological framework for the Rae, the south, central, and northern Hearne domains, and Queen Maude block within the Churchill province, coupled with a paucity of lithospheric mantle information makes it diffi cult at present to refi ne the search area. The northwestern (Ontario and Manitoba) and northeastern (Quebec) parts of the Superior province are also perhaps under explored, although this is due in part to thick glacial or glaciolacustrine cover. The true extent and nature of the Archean Sask craton is imperfectly known and understood, and the geometry of the Superior –Sask–Churchill terrain boundaries in the prairie provinces needs refi ning in order to better understand the potential for kimberlite diamond deposits in this region.” (Source: http://gsc.nrcan.gc.ca/mindep/synth_dep/diamond/index_e.php#areas)
We have only tap a tiny fraction of the earth for diamonds, gold, silver, etc. These frauds are are so brazen it puts Obama’s regime to shame.
http://www.msnbc.msn.com/id/5431319/
“COLUMBUS, Ohio - De Beers pleaded guilty in a 10-year-old price-fixing case Tuesday and was fined $10 million fine as part of an agreement that would clear the way for the diamond giant to resume selling diamonds directly in the lucrative U.S. market.
The company admitted conspiring to fix prices in the $500 million industrial diamond market. Industrial diamonds are used to make cutting and polishing tools for a variety of manufacturing and construction equipment.
De Beers has sold diamonds in the United States only through intermediaries since shortly after World War II, when it was first charged with price fixing.”
Even diamonds can’t improve on a hideous set of choppers.
Might be how we finally get private enterprise out of the atmosphere and onto the Moon (and, more to the point, into the asteroid belt) - mining space diamonds. Nice thing about those, absolutely no b.s. about there being blood on space diamonds.
BULLCRAP!
Diamonds are at best semi-precious stones and always were.
Spending large amounts of money on diamonds is and always has been foolish.
Peak Diamonds ! Bush’s fault !
I believe de Beers about as much as I believe Obama.
Ooooh. Gonna have to go with Honor Blackmon for best. Gold vs. Diamonds so to speak. Daniela Bianchi is the hottest, IMO. Props though for not picking one of the Roger Moore specimens.
It’s a good thing that synthetic diamond production is producing better stones every year.
Finally, de Beers is doing the right thing for the environment by reducing production of evil CRYSTAL CARBON!
Way over rated junk imo.
Hmmm...have you checked with Mr. Lucido to see if she agrees?
From what I have read,Diamonds are as common as sandgrains on a beach.What is DeBeers worrying about?They are a monopoly that should have been banned from the U.S. years ago.
Peak diamond?
TOTAL BS.
Diamonds are just carbon and dirt common. I think Debeers is just trying to inflate money because diamond prices are not seen as an investment any more.
just pretty pebbles with a distribution control.
That reserve excess is known in the diamond trade as "the overhang". It also includes the millions of carats of diamonds possessed by individuals, e.g. women's jewelry.
Diamonds simply aren't rare. Emeralds are, however... /g
What a great website. I’ve been reading it for the past couple of hours, and I’ll get through the whole thing in a few days. Thanks.
De Beers is drunk. Thye have manipulated the markets and are seeing a downturn in demand. They simply want to lie to make everyone think they had better buy now.
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