Russia reveals shiny state secret: It's awash in diamonds

Russia reveals shiny state secret: It's awash in diamonds

www.csmonitor.com

'Trillions of carats' lie below a 35-million-year-old, 62-mile-diameter asteroid crater in eastern Siberia known as Popigai Astroblem. The Russians have known about the site since the 1970s.

Russia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing "trillions of carats," enough to supply global markets for another 3,000 years.

(visit the link for the full news article)

They decided to keep it secret, and not to exploit it, apparently because the USSR's huge diamond operations at Mirny, in Yakutia, were already producing immense profits in what was then a tightly controlled world market.

But this does sound like a deliberate exploitation, doesn't it? Due to the fact that they already profited vast amounts of money from a high-yielding field of diamonds, that may now have gotten closer to be depleted?

It's also interesting to think about if this had been made public when it was discovered, if we then today had a market for something called blood diamonds. This probably depends if we're talking about diamonds for jewelry or industry, we don't know yet..


www.csmonitor.com
(visit the link for the full news article)

DeBeers was already aware of these diamonds if the site is real.

They pay extra to keep diamonds off the market to keep the price artificially high.

They're some evil bastards thats for sure.

reply to post by AGWskeptic


Diamonds are a funny thing.
They really don't cost that much.
But since it's jewelry sold at the mall.
The price is jacked up about 4 times the wholesale cost.

So you always get suckered into paying more than it's worth.

Originally posted by grey580
reply to post by AGWskeptic

 

Diamonds are a funny thing.
They really don't cost that much.
But since it's jewelry sold at the mall.
The price is jacked up about 4 times the wholesale cost.

So you always get suckered into paying more than it's worth.

DeBeers has at least 250 years of diamonds stored in their vaults, they keep the amount on the open market low to keep the price high.

It's all fixed.

High grade diamonds are not a life or death item. So the bottom of the market ends up @ thousands below what it is today.

Just means I will not be buying diamonds.

Will be good for manufacturing though, might bring prices down for construction, drilling, cutting, might stimulate growth.

reply to post by Droogie


Good for them . It's nice to see some secrets can still be kept.

-SAP-

Diamonds are much less rare than what the corporations lead you to believe. Someone else already pointed out that the reason why diamonds are even expensive is because of the regulation of "flow".

I have seen videos of millions and millions of diamonds being sorted out in rooms where each worker has thousands of diamonds on their desk, picking through diamond by diamond to find just the right one to sell to a weary victim. In Asia, there are "workers" (more like slaves) employed by big business to sift through rivers to find valuable jewels... The "workers" sift all day to find one or maybe two jewels and are then forced to sell them to big business for outrageously low prices compared to what they value for in market... talking about dimes here...

The jewel business is pathetic, and Russia has probably been sitting on them waiting to find actual value in them with foreign markets. Perhaps now they are just tired of waiting for the price of an abundant item to go up based on low supply...

Originally posted by magma
High grade diamonds are not a life or death item. So the bottom of the market ends up @ thousands below what it is today.

Just means I will not be buying diamonds.

Will be good for manufacturing though, might bring prices down for construction, drilling, cutting, might stimulate growth.

A diamond concrete blade for my demolition saw runs 200 bones.

It last about 5 hours of sawing before it's junk.

40 bucks an hour going into the air.

sorry if this dosent make sense as science isnt my forte.... so is the reason that they have so many diamonds because of the meteror that hit and thus made all the diamonds on impact because of the meteor alone?

or were there other factors like the cold of the region and soil factor in with the meteor as well? i ask this because my uncle lives near flagstaf and as im visiting him soon and evidently their is a crater there www.philipcoppens.com... so i guess i just wanna know if looking for diamonds when im in the area would be a good idea or were the conditions from the strike in Siberia a geological uneque event?

Originally posted by AGWskeptic
DeBeers was already aware of these diamonds if the site is real.

They pay extra to keep diamonds off the market to keep the price artificially high.

They're some evil bastards thats for sure.

That's another conspiracy for you. Debeers has been artificially keeping diamonds off the market to keep the prices up for ages.

reply to post by AGWskeptic


Hopefully that will bring the prices down to say $100 .

Then it is less money going in the air.

Which means more profit

which means you eat better etc

Why are diamonds woman's best friend and we get a dog?
Don't get me wrong i would take a six pack over flowers any day.

It's sick, then we pay more so they can buy more to hoard from us.

This ruins peoples lives.

I boycott diamonds.

reply to post by Droogie


If they were really smart, they would have kept this secret and slowly put them on the market and made a huge profit but now it'll ruin the market when more people realize just how plentiful the really are.

My take on it anyways

Originally posted by KilrathiLG
sorry if this dosent make sense as science isnt my forte....

no problem man, ask away..

so is the reason that they have so many diamonds because of the meteror that hit and thus made all the diamonds on impact because of the meteor alone?

Yea man, meteors and in actual fact comets shine so beautifully that when they are flying directly at you at 5 zillion MPH it wont matter, T's a beautiful sight...

SPACE.......COM

or were there other factors like the cold of the region and soil factor in with the meteor as well? i ask this because my uncle lives near flagstaf and as im visiting him soon and evidently their is a crater there www.philipcoppens.com... so i guess i just wanna know if looking for diamonds when im in the area would be a good idea or were the conditions from the strike in Siberia a geological uneque event?

No dude, get your shovel and bucket and get down there, I'm sure no major scientist or earth raping company ever thought of that before.

It's all about perceived value folks. De Beers were some marketing gurus and managed to make white diamonds the heralded jewel it is today, even though they aren't considered rare.

Uncovering this mine with all these diamonds in it probably still won't affect prices since they'll find a way to finagle the market to keep those diamond prices nice and high and make obscene profits off of them.

Someone still has to cut them and get the brilliance out of them. That's where they will probably change things and add more clarity levels to keep the prices artificially high.

I guess that would explain Putin's shiny new grill.

Don't diamonds play a large part in earth drilling and physics experiments? like laser technology??

Diamonds are the biggest racket out there. Not nearly as rare as they're made out to be.