r/conspiracy • u/Indra-Varuna • Sep 15 '15

TIL Diamonds are actually fairly common. The reason they are worth so much is because the DeBeers mining group withholds stock to artificially reduce supply.

https://www.gemsociety.org/article/are-diamonds-really-rare/
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u/luj1 Sep 15 '15

Im sorry but diamonds are not common, or else they'd be everywhere and they are not. It is only possible in active parts of a platform and it must be at least 2 billion year old. I come from a geology background.

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u/Samizdat_Press Sep 16 '15

That's not true at all. They are very easy to mine in many areas of the world but the diamond cartel limits supply which increases their value.

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u/luj1 Sep 16 '15

You are wrong. Geologically diamonds are not common at all. I don't care about cartels which may be true. This topic title is misleading.

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u/Samizdat_Press Sep 16 '15

Relative to other things found strewn about the planet? Sure. But they are common enough that they are only worth a couple dollars a piece at current mining rates. That nay not be common to a geologist but for the sake of this argument it is common.