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Originally posted by gem_man
Diamonds are actually very plentiful but are made scarce by the DeBeers cartel regulation of them. Zimbabwe mines 25% of all diamonds mined. If Mugabe floods the world with diamonds their value will plummet. This will throw the diamond market into utter chaos. I know because thats the business I am in.
Well they ARE legal diamonds so I suppose He can do it if he wishes.
Problem for him is the diamonds are uncut so he would be flooding the world with uncut diamonds. Even if he sells them cheap they will end up in India for cutting (90% of all diamonds are cut in India) and be sold for whatever the Diamondtaires think they can get. He may send them to China for cutting and sell them already cut. THATS a problem. If He can get enough of them into the market it definitely WILL drive down the prices.
It won't last that long as he can only mine so many each month but for awhile you will likely be able to buy a diamond for a loved one at a bargain.
Originally posted by PurpleDog UK
reply to post by CaptGizmo
What is your Avatar saying ??? " Boom and it's ..................?"
I'm just curious that's all.