Diamonds as investment, days gone!

[erni]

I just watched a video with a German guy saying that diamond bracelets, for example, which cost up to $30,000, can be bought on Amazon for $150. The man is wearing makeup and lipstick, so I thought I should look into this further.

Yet another silly influencer making money off of gullible people. It turns out that diamonds have dropped by 6% so far due to these lab-grown diamonds, and it is expected that they will fall by an additional 20% in the coming years.

But there's still a big difference between $30K and $150—but what can you expect from a man who wears makeup?

real source with the 6% drop
https://fortune.com/2024/06/05/lab-grown-diamonds-price-sunk-6-percent/

Here is the Ladyboy talking nonsense:

 

[clemens]

Yes, I also remember there were discussions about this on OCT a few years ago. Our always wise guru @Martin Everson already said back then that diamonds were not a good investment, and I hate that he's always right. I was close to investing my last 50K in these stones; I'm glad I didn't.

Below is an article that says diamonds have dropped by about 25% in price in 2024. What a bad investment! I imagine there are many wives now asking their husbands for a gold bracelet instead.

Are there other stones like sapphires, etc., that have maintained their value, or does this apply to all gemstones now?

https://www.mining.com/what-to-expect-in-2024-after-diamond-sectors-price-plunge/

 

[jafo]

I imagine there are many wives now asking their husbands for a gold bracelet instead.

Most wives, if they don't toil, in general, don't give a Flying F*ck about their husbands' plight!

PS. Don't come at me ...It was Dr. Esther Vilar who wrote the book in 1971 and spelled it all out:

PS. There is a guy most people HATE in the media, but this guy is only spouting ⅒ of what Dr. Vilar wrote in her book in 1971 and passing it off as his own

EDIT: You all know who he is. When anyone mentions his name here, people lose their minds.

 

[AtlasShrugged]

This might be a dumb question. I just woke up, but if the price of diamonds are going down because of lab-grown diamonds, why can't this happen to gold? What prevents lab-grown "gold" being made.

 

[void]

What prevents lab-grown "gold" being made.

laws of physics

 

[aniglo22]

This might be a dumb question. I just woke up, but if the price of diamonds are going down because of lab-grown diamonds, why can't this happen to gold? What prevents lab-grown "gold" being made.

Gold is an element, not a compound. Unlike lab-grown diamonds, which are made of carbon atoms arranged in a specific structure, gold is composed of individual gold atoms. Creating new gold atoms would require nuclear reactions, not just rearranging existing atoms. Theoretically, you could achieve it through nuclear transmutation, but it would be more than 20,000 times more expensive than the current gold market price.

 

[EliasIT]

What prevents lab-grown "gold" being made.

fun, I had the exact same thought when I just read about the diamonds.

Gold is an element, not a compound. Unlike lab-grown diamonds, which are made of carbon atoms arranged in a specific structure, gold is composed of individual gold atoms. Creating new gold atoms would require nuclear reactions, not just rearranging existing atoms. Theoretically, you could achieve it through nuclear transmutation, but it would be more than 20,000 times more expensive than the current gold market price.

very well explained, that makes good sense.

 

[clemens]

It's long overdue for the diamond cartel to be stopped in their horrendous business practices... Diamonds are overrated, and now we can see that they are also a really bad investment.

 

[ImKing]

Wonder where this goes, a world where Diamonds are worthless?

 

[dragosaurus]

Its simple. Just buy bitcoin.

 

[linusAG]

https://www.bjreview.com/China/202209/t20220929_800308019.html
You can buy "Diamonds" from HeNan, China for a cheaper price and gift them to your wife

 

[JackAlabama]

I just watched a video with a German guy saying that diamond bracelets, for example, which cost up to $30,000, can be bought on Amazon for $150. The man is wearing makeup and lipstick, so I thought I should look into this further.

Yet another silly influencer making money off of gullible people. It turns out that diamonds have dropped by 6% so far due to these lab-grown diamonds, and it is expected that they will fall by an additional 20% in the coming years.

But there's still a big difference between $30K and $150—but what can you expect from a man who wears makeup?

real source with the 6% drop
https://fortune.com/2024/06/05/lab-grown-diamonds-price-sunk-6-percent/

Here is the Ladyboy talking nonsense:

nah wouldnt do anything with diamonds or stones in general (unless youre a pro trader or wanna become one).
Its not needed today since we have bitcoin and stablecoins.

 

[41632584]

Saw a documentary about this a while ago, quite interesting:

 

[void]

Wonder where this goes, a world where Diamonds are worthless?

1) value (like everything) is subjective and contextual

2) in the way you put it diamonds were always worthless (deliberately ignoring marginal aesthetic or industrial usage) - it was the lack of alternatives with similar properties (like the value density, transportability, durability, global recognition/liquidity, etc.) that used to give diamonds their value - now it's over and gold is next

 

[run]

price is manippulated anyways as its being controled by one family making the price artificialy high.

 

[aage]

Interesting read, I was not into Diamonds but always thought they would last forever, obvious they don't, big mistake.

 

[ImKing]

now it's over and gold is next

I don't think so.

 

[wellington]

About a decade ago I bought some of these diamonds - naturally friends thought they were fake but my local jeweler who works in the diamond industry at first was taken aback (the idea / size wouldn’t be out of the question for me) anyway she was truly impressed

During Covid I made a piece of art covered in synthetics and real and then various semi precious stones out of them (was going to make a cross and gifted it to a church but ended up with some art in the style of a Bay Area artist) - hangs if my wall in the study today.

I guess that’s the benefit with mixed synthetic and real diamonds people just assume it’s too outlandish - making it safer to wear / use.

Otherwise diamonds in my opinion are not really a investment the industry itself is propped up by supply and demand control - disclosure one of my closest friends who died during COVID family were related to de-beers and had a private bank (4 branches across Europe) - he inherited and gave me / rather taught me the insides of said industries and the diamond industries over our friendship.

He was the last descendent made in his line (and gay, and hopeless at business) so spent most of his life after getting his inheritance giving his wealth away - I think his sister is still alive and spending her % - the amount of wealth generated in those industries was vast up until the era of the internet - banking became competitive - people are anti social so don’t want a personal touch, diamonds can be bought world wide click of a button etc - and then synthetics and crypto both destroying said business (plus regulation in banking/secrecy etc).

But I suspect at some point like most things people will still pay for something real but like most things the top 1% everyone else will be content with their McDonald’s one (diamond) or do other things with their money

 

[ImKing]

If all this were true they would be out of business and we would see a world wide drama in the media. So far nothing is happening so I conclude it is propaganda against diamonds.

 

[jafo]

If all this were true they would be out of business and we would see a world wide drama in the media. So far nothing is happening so I conclude it is propaganda against diamonds.

It took me almost 50 years to realize that 99.99% of my family, relatives, and friends (i.e., the tribe) were stupid/losers and had no idea what they were talking about, and I had, in my private life (business and academic), away from the tribe, brilliant/successful people who got everything right in their lives and mine.

Yet, it took me almost 50 years to realize this! Fifty-f*cking years!
This makes me wonder how wrong academic degrees and IQ tests are. Like, WTF???!! How did it take me so long to figure this out?

Am I really THIS stupid?

Are you getting this?

PS. Some people will STILL demand the REAL diamonds...because they want to FLEX on others and humiliate them or they just see value where there is NO value (anymore). One is a socioeconomic form of bullying, and the other is a (delusional) savings plan.