It has been said that if deBeers opened its safes and released all the diamonds it has mined over the centuries, diamonds would be around the same value as the copper in a copper penny ...
Yep. That is why we can purchase drill bits and saw blades that are coated with diamonds without having to mortgage or homes.
I know those are industrial grade but with the quantity of diamonds they are holding I wonder how many decent diamonds have ended up in the tool-making factories?
Exactly.
Diamonds are the worst investment ever. DeBeers warehouses truck loads of diamonds just to keep the price high.
De Beers Agrees To Guilty Plea To Re-enter the U.S. Market
"De Beers, the world's largest diamond producer, has agreed to plead guilty to criminal price fixing, a court official and a lawyer involved in the case said on Friday. "