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Mugabe threatens to flood the world with diamonds ...
Daily Mail ^ | July 14, 2010 | Staff

Posted on 07/14/2010 5:45:31 AM PDT by C19fan

Robert Mugabe has threatened to flood the world's diamond markets - despite being slapped down by the world's diamond control body. The Zimbabwean president said his nation's massive reserves of diamonds have 'huge potential' to revive the shattered economy. He said Zimbabwe can account for one-fourth of the world's diamond supply

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: News/Current Events
KEYWORDS: diamonds; mugabe; zimbabwe
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DeBeers is not going to happy. Diamonds are so over-rated.
1 posted on 07/14/2010 5:45:36 AM PDT by C19fan
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To: C19fan

Who is going to buy these diamonds, Mugabe? You can’t eat them.


2 posted on 07/14/2010 5:47:10 AM PDT by caver (Obama: Home of the Whopper)
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To: C19fan

Mugabe doesn’t understand that if he floods the market, the diamonds he has won’t be worth crap? God, what an idiot...


3 posted on 07/14/2010 5:47:27 AM PDT by GOPJ (Voter intimidation? New Black Panthers and old White Citizens Council - brothers under the skin.)
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To: C19fan

I hope he does.


4 posted on 07/14/2010 5:49:30 AM PDT by Tax-chick (We made a proactive decision to postpone the originally scheduled nightlife activities.)
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To: C19fan

“Diamonds”......that’ll shut her up....


5 posted on 07/14/2010 5:50:20 AM PDT by LaineyDee (Don't mess with Texas wimmen!)
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To: C19fan

That would be stupid. But DeBeers has had to deal with these threats before. They hold all the cards. Not Mugabe.............


6 posted on 07/14/2010 5:50:25 AM PDT by Red Badger (No, Obama's not the Antichrist. He's just some guy in the neighborhood.............)
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To: GOPJ

It is a hard balance. Diamonds would be more ‘affordable’, but the offset is the attraction that diamonds are ‘rare’, and ‘expense’.


7 posted on 07/14/2010 5:50:54 AM PDT by Palter (Kilroy was here.)
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To: GOPJ

With the price of gold going up it will soon take a fairly large stone to be worth more than the gold in the ring.


8 posted on 07/14/2010 5:51:07 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: GOPJ
"Because some men aren't looking for anything logical, like money. They can't be bought, bullied, reasoned or negotiated with. Some men just want to watch the world burn." - Alfred Pennyworth
9 posted on 07/14/2010 5:52:00 AM PDT by ClearCase_guy
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To: C19fan

Hey Mugabe. Remember when your country could feed itself and half of Africa?

What happened?

Just die already.


10 posted on 07/14/2010 5:52:18 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: caver

A lot of people would buy them. Supply and demand. So long as he can survive DeBeers, he can offer them for far less than the going rate and still make a big margin.


11 posted on 07/14/2010 5:52:32 AM PDT by ctdonath2 (+)
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To: ctdonath2

You have to give credit to DeBeers for maitaining this fake shortage for so long. From what I understand, Russia is sitting on a huge amount of diamonds in their vaults.


12 posted on 07/14/2010 5:54:32 AM PDT by C19fan
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To: C19fan
Mr Mugabe acknowledged that key infrastructure - including power and water utilities, roads and transport services - fell into disrepair and housing programmes were at a standstill over the past decade.

So how's he supposed to get these diamonds out of the ground with no infrastructure? Is it me or does he sound like a certain kenyan Marxist we all know and loathe?

13 posted on 07/14/2010 5:58:41 AM PDT by YankeeReb
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To: GOPJ
Mugabe doesn’t understand that if he floods the market, the diamonds he has won’t be worth crap? God, what an idiot...

He's happy to take 10% of what DeBeers gets.

I hope he does do this, because diamonds are a cartel and they deserve to be busted. It would be the first good deed Mugabe did in his life.

14 posted on 07/14/2010 5:59:09 AM PDT by wideawake
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To: C19fan

Mugabe is a nightmare, but it would be sweet to see him torpedo DeBeers into extinction.


15 posted on 07/14/2010 6:00:22 AM PDT by E. Pluribus Unum ("The only stable state is the one in which all men are equal before the law." -- Aristotle)
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To: YankeeReb
So how's he supposed to get these diamonds out of the ground?

Pat Robertson might help him.
16 posted on 07/14/2010 6:01:49 AM PDT by SpaceBar
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To: C19fan

17 posted on 07/14/2010 6:02:59 AM PDT by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: cripplecreek
Hey Mugabe. Remember when your country could feed itself and half of Africa?

Odd...you would think kicking out all those evil landowners and giving the land to the peasants would have fixed everything. I know Allende did the same thing in Chile, paying General Tire $1 for its tire plants there and... Oh, wait a minute...five years later, the plants closed due to lack of repair parts. But he went on to greater success when he... Oh, wait a minute... That's right: He got in his Mercedes one morning, turned the key, and both he and his Mercedes were blown up, throwing the car over a 20' wall. Hmmm...wonder if history really does repeat itself.

18 posted on 07/14/2010 6:02:59 AM PDT by econjack (Some people are as dumb as soup.)
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To: caver

“Who is going to buy these diamonds, Mugabe? You can’t eat them.”

Thats why he’s trying to sell them. The world diamond monopoly won’t stand for it. This will ensure his downfall.


19 posted on 07/14/2010 6:02:59 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: SpaceBar

At least political prisoners in Zimbabwe will have jobs. [/sarc]


20 posted on 07/14/2010 6:06:47 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: All

I recall sometime, long ago, when a lab made artificial diamonds so real that no one could tell the difference. The artificials were closely monitored - each having to be signed and numbered by the lab.

During that conversation (With Jose Grant) he mentioned several major markets that also traded Diamonds - not just the vanity markets. Releasing these Faux stones would have a greater impact than imagined.

Of course, at this point - it’s already collapsed. Have fun. Nothing short of a global revolution with a complete build-up based on our own original Constitution, backed by intelligent and far-sighted men will make things better.


21 posted on 07/14/2010 6:07:11 AM PDT by Celerity
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To: caver
Who is going to buy these diamonds, Mugabe?

I have a 10 year anniversary coming up. I'd be more than happy to purchase some discounted diamonds.

22 posted on 07/14/2010 6:08:48 AM PDT by numberonepal (Don't Even Think About Treading On Me)
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To: C19fan

LOL! DO IT!!!!


23 posted on 07/14/2010 6:09:19 AM PDT by Adder (Note to self: 11-2-10 Take out the Trash!!!)
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To: wideawake

Agreed, and well said.


24 posted on 07/14/2010 6:11:13 AM PDT by agere_contra (Obama did more damage to the Gulf economy in one day than Pemex/Ixtoc did in nine months)
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To: C19fan

Anyone remember a 60 Minutes segment with Ed Bradley in the Russian diamond vaults? They have tons of diamonds them. I remember him opening a drawer, holding a handful of 10 carat rocks. I don’t think Mugabe wants to pick this fight...however, he is deranged, so anything is possible.


25 posted on 07/14/2010 6:13:19 AM PDT by SueRae (I can see November from my HOUSE!)
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To: SueRae

I remember that. Probably DeBeers will cut some back room deal with Mugabe to keep him quiet.


26 posted on 07/14/2010 6:15:00 AM PDT by C19fan
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To: C19fan

Or the Russians will force-feed him 8000 carats of low-value industrial diamonds.

Which would be a hell of a statement.


27 posted on 07/14/2010 6:16:56 AM PDT by agere_contra (Obama did more damage to the Gulf economy in one day than Pemex/Ixtoc did in nine months)
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To: C19fan

Impractical - The wholesalers will boycott him & anyone else who tried to do this just like they have for a century.

I would be happy to see him killed.


28 posted on 07/14/2010 6:16:58 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: C19fan

A lot of people are distracted by bright and shiney objects. Reminds me of the beads for land trade the pilgrims pulled on native americans way back.


29 posted on 07/14/2010 6:18:12 AM PDT by existtoexcel
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To: C19fan

I am amazed Mugabe hasn’t been long ago “dealt with” and buried deep in various parts of Zimbabwe.


30 posted on 07/14/2010 6:26:15 AM PDT by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: existtoexcel

Many people think that Manhattan was bought for beads worth about $24. The Dutch did buy Manhattan in 1636 for trade goods worth (at the time) about 24 gold dollars. That is a lot now, but still almost nothing for this important piece of land.

Were trade beads part of the trade goods? Most history books say so, but it is not true. There is no proof that beads were used to buy Manhattan. The story was started by Martha Lamb in her book on New York history in 1877 (250 years after the purchase) and almost everyone has copied her since then. But it is just a story. There is no evidence that beads bought Manhattan.


31 posted on 07/14/2010 6:44:19 AM PDT by Leg Olam (Wise men speak when they have something to say, fools speak just to say something.)
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To: Palter
"It is a hard balance. Diamonds would be more ‘affordable’, but the offset is the attraction that diamonds are ‘rare’, and ‘expense’."

You also have to remember that the vast majority of diamonds are purchased by the idustrial community as cutting surfaces and other utilitarian purposes, not as jewlery.

32 posted on 07/14/2010 6:52:20 AM PDT by circlecity
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To: C19fan
Diamonds are one of the biggest cons and cruelest jokes on the public there is. Even a "deeply discounted" diamond is only worth about a third of what some poor unsuspecting fool pays for it. The Atlantic Monthly - published an article about them some time ago entitled "Have you ever tried to sell a diamond?" They are basically worthless and the entire industry is based on a marketing ploy aimed primarily at idiot Americans.

If the current supply of already mined, cut and polished diamonds were to be released, they literally would be nothing more than a pretty pebble as far as value goes. Wake up stupid Americans and stop buying the hype. /roll eyes
33 posted on 07/14/2010 6:56:24 AM PDT by Sudetenland (Slow to anger but terrible in vengence...such is the character of the American people.)
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To: C19fan

uh oh....you can thumb your nose at the UN, Euros, USA, maybe even the ChiComs...but get the DeBeers cartel angry at you and your days are numbered, pal!


34 posted on 07/14/2010 7:07:44 AM PDT by Buckeye McFrog
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To: C19fan

But if Mugabe is smart enough to sell them off in increments at a moderate discount, he can continue to live large (while “his people” continue to starve).


35 posted on 07/14/2010 7:13:46 AM PDT by JimRed (To water the Tree of Liberty is to excise a cancer before it kills us. TERM LIMITS, NOW AND FOREVER!)
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To: Leg Olam

Not saying you are wrong, but when I teach this lesson, I have my students consider the humble bead. Imagine making a bead by hand using stone age tools. Under those circumstances, the smaller the bead, the more valuable—since a small bead would be so difficult to make. A handful of small beads would represent a small fortune to Indians—and the East Coast Indians did use beads as a form of currency.


36 posted on 07/14/2010 7:22:43 AM PDT by hanamizu
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To: GOPJ

Hey, Mugs, just do it! Screw your South African ‘brothers’.


37 posted on 07/14/2010 7:25:12 AM PDT by GGpaX4DumpedTea (I am a tea party descendant - steeped in the Constitutional legacy handed down by the Founders)
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To: GOPJ

He does.
He wants a bribe NOT to do this.


38 posted on 07/14/2010 7:33:43 AM PDT by Little Ray (The Gods of the Copybook Headings with terror and slaughter return!)
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To: econjack

“Hmmm...wonder if history really does repeat itself.”

It will if he jacks with the diamond cartel. That’s not like threatening the pussy politicians, UN etc. His best bet is to make enough noise to be paid off but not enough to be taken out.


39 posted on 07/14/2010 7:33:49 AM PDT by Let's Roll (Stop paying ACORN to destroy America! Cut off their federal funding!)
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To: Sudetenland

Also, how many people even understand the quality descriptors for diamonds?

It has been about 15 years since I needed to purchase diamonds at wholesale. Our supplier, who is a very honest man, told us to try to convince the client to switch to something else, as the quality was uniformly low-end. At that time, a full carat commercial gem quality was selling for around $3k.

Investment quality is another market, entirely. Except for celebrities and the very, very wealthy, they are not usually readily available.

Most other stones are heat-treated at the mine or the created varieties are available, better looking and way cheaper. I think Tanzanite may still be only available in natural form, but I have been out of the market for so long, that I am not sure of that. We also used to look for estate sources of large, old Brazilian emeralds, which we could then have re-cut (they are soft and become scratched).
The color is vastly superior to the prevalent Columbian stones.


40 posted on 07/14/2010 7:35:10 AM PDT by reformedliberal ("If it takes a blood bath, let's get it over with." R. Reagan)
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To: Let's Roll
His best bet is to make enough noise to be paid off but not enough to be taken out.

Wonder if he's smart enough to know where that line is drawn?

41 posted on 07/14/2010 7:43:46 AM PDT by econjack (Some people are as dumb as soup.)
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To: Leg Olam
Were trade beads part of the trade goods? Most history books say so, but it is not true.

Not unlike a lot of 'written' history I'm sure. One of the reasons I come to this site is for enlightenment, and I get a lot of it. Thanks for the school'n.

42 posted on 07/14/2010 7:43:57 AM PDT by existtoexcel
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To: reformedliberal
Even investment grade diamonds are relatively worthless. My sister has a 5 carat "investment grade" diamond she was given as an engagement ring. It is insured for $15,000. We recently had it evaluated for purchase at about $5-7,000.

These values are completely arbitrary, and unlike gold, are not based on actual rarity, but on a false marketer imposed rarity.
43 posted on 07/14/2010 7:55:37 AM PDT by Sudetenland (Slow to anger but terrible in vengence...such is the character of the American people.)
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To: caver

>>Who is going to buy these diamonds, Mugabe?<<

Cheap sparklies?

I’d buy them, and I know alot of people who would too.

Would be great to wear a nice diamond (or several), not worry about insuring or losing it, as you can run to the store and pick up more inexpensively.

Besides, hell hath no fury like a husband who discovers the wife has lost her pricey rock (speaking from experience here)


44 posted on 07/14/2010 7:58:24 AM PDT by LadyBuck (In the immortal words of Jean Paul Sartre, 'Au revoir, gopher')
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To: caver
Say's Law
45 posted on 07/14/2010 8:10:03 AM PDT by garbanzo (Government is not the solution to our problems. Government is the problem.)
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To: C19fan

The only difference between diamonds and gold is that we haven’t found the huge supply of gold that would require direct manipulation to prop up the market like we have for diamonds.

Diamonds are like beanie babies; only valuable because the “manufacturer” has deliberately limited the supply while hyping the demand. And at any time, that “manufacturer” can decide they need more money and open up the supply chain, ruining the value of the existing holders.


46 posted on 07/14/2010 9:32:30 AM PDT by CharlesWayneCT
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To: SpaceBar

+1


47 posted on 07/14/2010 9:39:34 AM PDT by stormer
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To: C19fan
He will probably try to do this covertly to hide what he is doing.

So....

Beware of a "Looney in disguise with diamonds."

48 posted on 07/14/2010 9:43:16 AM PDT by N. Theknow (Everything I needed to know about 0bama, I learned from Wesley Mouch.)
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To: Little Ray
Must be a guide book for thugs somewhere = one they all read, there's so little originality in their thuggery.
49 posted on 07/14/2010 11:00:45 AM PDT by GOPJ (Voter intimidation? New Black Panthers and old White Citizens Council - brothers under the skin.)
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To: wideawake
There's about as many diamonds (*weight-wise) as garnet gemstones. Meaning the real price is not much... Would hate to be the young man who bought the `$12,000 ring for his beloved only to find it's now worth $1,000.
50 posted on 07/14/2010 11:13:24 AM PDT by GOPJ (Voter intimidation? New Black Panthers and old White Citizens Council - brothers under the skin.)
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