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So how is the diamond trade faring these days? *Update*

19 Dec

We have discussed the diamond engagement ring scam in the past, and how diamond rings cater to the worst vain and narcissistic traits, and how man-made diamonds have improved in quality compared to in yesteryear, and how some have mused on whether costly engagement rings are preventing people from marrying – not surprising, given that de Beers has been pushing not two months‘ salary but three months‘ salary as ideal (apparently in Japan this is now the norm; no wonder Japanese men are becoming even more ‘herbivore‘ and now their women are imitating Western ones in self-marriages).

A friend of mine pointed me recently to some good news I’d missed from 2015, that de Beers had cut production, due to decreased sales.

He also pointed me to a story from earlier this year which I’d also missed about the huge growth in the lab-grown, i.e. man-made, diamond market.

Encouraging news!

*Update*: Commenter Alexander also pointed me to this ZeroHedge story from a week ago.

Very encouraging news! 🙂

 

 
8 Comments

Posted by on December 19, 2019 in business, good news, technology, The Kulturkampf

 

8 responses to “So how is the diamond trade faring these days? *Update*

  1. feeriker

    December 19, 2019 at 7:45 am

    It would make my century to see DeBeers slide into bankruptcy. Even better, to stroll through my local mall and see all of the overpriced jewelry stores offering diamond engagement rings at fire sale prices, or, for the ultimate “sweet wet dream” scenario, seeing them offer a free diamond engagement ring with the purchase of any other jewelry item.

    As for synthetic diamonds, I ROTFALMAO at the very concept, as it has effectively rendered diamonds worthless. Imagine “synthetic gold” and what that would do to its value.

     
    • Will S.

      December 19, 2019 at 8:53 am

      Hear, hear!

      I really wish we could have colonized other worlds in the solar system; imagine what it would do to the value of precious metals when the market has to factor their availability not just on earth but elsewhere… 🙂

       
    • Dave

      December 19, 2019 at 4:30 pm

      DeBeers lost their diamond-grit monopoly in the 1950s. Large, pure diamond crystals might be superior to silicon as a base for integrated circuits because they conduct heat better.

      The hardware inside my 20-year-old computer case has been replaced several times. Molded into the case are front-side USB ports, which are now useless because the gold contacts have worn off. If gold were cheap, it could be applied generously to create long-lasting electrical contacts.

      An even better reason to mine the Asteroid Belt is iridium; we could do some amazing things with that if it weren’t so rare.

       
  2. Dave

    December 19, 2019 at 5:01 pm

    A gross but funny take on the diamond trade:

    (most of the deaths on this show were not based on actual events)

     
    • Will S.

      December 19, 2019 at 6:02 pm

      Ha! That’s hilarious. 🙂

       
  3. Alexander

    December 20, 2019 at 7:25 am

     
    • Will S.

      December 20, 2019 at 7:40 am

      No, I hadn’t; thanks!

      Wonderful news! 🙂

       

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