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    Forums ›› Main ›› Economics ›› Russian Asteroid Crater contains $1 quadrillion in diamonds  


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peilthetraveler
 

Registered: Jun 2005
Posts: 7073

 

09-19-12 08:56 PM

http://news.yahoo.com/blogs/technol...-013025163.html

I think if we had that here, there wouldnt be one republican against socialized medicine, or one democrat against low taxes for the rich.

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marketsurfer
 

Registered: Apr 2002
Posts: 5450

 

09-19-12 09:01 PM

I think the article miscalculated-- those are industrial diamonds--worth far less than jewelry diamonds-- very cool, none the less!

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Zr1Trader
 

Registered: Dec 2010
Posts: 1540

 

09-19-12 10:28 PM

Pretty cool.

Once that supply hits the market it wouldn't be worth nearly as much but it would be nice to see diamonds go down in price for the poor saps that want to please their wife with shiny jewelry.

The US has Quadrillions in potentially printed federal reserve notes too

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badvestor
 

Registered: Nov 2011
Posts: 253

 

09-20-12 01:34 AM


Quote from Zr1Trader:

Pretty cool.

Once that supply hits the market it wouldn't be worth nearly as much but it would be nice to see diamonds go down in price for the poor saps that want to please their wife with shiny jewelry.

The US has Quadrillions in potentially printed federal reserve notes too




You mean the privately owned federal reserve? Because the US govt doesn't print anything. The treasury floats bonds which the reserve buys by generating more zeros on a computer. You and I then sell our most precious assets, our time and energy, to pay taxes that pay off the reserve bank interest. On money generated out of thin air. The US is done for because the banks are using this degenerate system to suck out the productivity in the economy.

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hoffmanw
 

Registered: Feb 2009
Posts: 123

 

09-20-12 04:22 AM


Quote from marketsurfer:

I think the article miscalculated-- those are industrial diamonds--worth far less than jewelry diamonds-- very cool, none the less!



Yea, the valuation is overblown. Industrial diamonds are not gem quality stones. On wholesale, they worth couple cents per carat.

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achilles28
 

Registered: Apr 2005
Posts: 7539

 

09-20-12 05:06 AM


Quote from badvestor:

You mean the privately owned federal reserve? Because the US govt doesn't print anything. The treasury floats bonds which the reserve buys by generating more zeros on a computer. You and I then sell our most precious assets, our time and energy, to pay taxes that pay off the reserve bank interest. On money generated out of thin air. The US is done for because the banks are using this degenerate system to suck out the productivity in the economy.



You are not allowed to post such information on Elite Trader! This is harasey against the ruling banker class!

As for diamonds, they're not even semi-precious. It's a well-established fact DeBeers - in concert with most Governments - tightly control diamond production and warehouse supply off market to inflate retail prices of gem stones. Another Government fiefdom. Oligarchies are where the real money is at. Fuck competition!

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