DIAMOND ATM's going global

Discussion in 'Economics' started by AKUMATOTENSHI, Oct 25, 2011.

  1. I was waiting ofr this:

    http://www.cnbc.com/id/45027295

    Diamond ATM's in India and elsewhere. This should be a signal to slow down the money printing presses. Global growth slowdown will only fuel this industry. It could be part the new planetary currency system. Governments keep on making making inflation part of their bussiness model so the likely hood of non fiat should be gaining some ground in the next decade. I am just waiting for Ivory ATM's

    Welcome to Planet Misery,

    Akuma

    Buying gold, diamonds, ivory and quality antiquities
     
  2. Can't they make diamonds now?

    I thought that it was easy to replicate them so they are no longer valuable?
     
  3. I have all my money in whale bone and vintage dirty pictures.
     
  4. You sound like Lucrum.
     
  5. Check this out on ebay....2 different type of diamonds.

    11 ct diamond found in the ground $198,000
    http://www.ebay.com/itm/11-ct-carat...5160840?pt=Loose_Diamonds&hash=item48357f0008

    11 ct diamond created in the lab 99 cents
    http://www.ebay.com/itm/11-10ct-AWE...2?pt=Loose_Cubic_Zirconia&hash=item3cbd8eeaac

    Dont know why anyone would buy the $198k diamond. Its like, would you buy a $200k ferrari, if someone was selling an near 100% identical replica for $1 that nobody could tell the difference unless they broke out some special tools to help you tell the difference?
     
  6. rew

    rew

    Yes, diamonds are weird. Gold is gold, a fairly rare element. Diamonds are carbon, a cheap and common element. It is now possible to manufacture gem quality diamonds at relatively low cost. But the diamond industry has convinced people that if diamonds are extracted from a mine they're somehow vastly more valuable. The market is tightly controlled and the bid/ask spreads are huge.

    I'd stay away from diamonds as a store of value.
     
  7. I concur.
     
  8. I am seeing shift in sentiment for all these ATM that vend items. Diamonds do have various industrial uses. Fashon diamond mark up is other worldly. Import and export restriction are not as bad as animal products so it would a good way to transport wealth through immagration. I see it as shift in culture easy access to non fiat wealth undermines the printing presses of any nation.

    Welcome to Planet Misery,

    Akuma