Russian crater filled with over $1 quadrillion in diamonds

[BlkPaladin]

haxxiy said:

fillet said:

haxxiy said:

Gamerace said:
Except these are lower class diamonds not what would be used for commercial sale.

The great majority of diamonds mined are destined for industrial use already anyways. Most likely the article mentioned it as a disclaimer for those believing the russians have an endless suply of jewels at hand.

Still this could be an extremely powerful economic weapon. Full-scale mining could make a market worth billions collapse. Hey, it could end the blood diamond conflicts in Africa.

....Uhmmmm....are you making some kind of statement based on analysis or just talking for the sake of talking?

What? It's common knowledge a very large supply of anything will push prices down dramatically. That's how the market works and any economist can tell you that. What part of that is so hard to understand for your mind? 

I gave up medical school to study and work with financial and tax law so unlike certain posters here I'd think I'm allowed to talk about certain subjects more confidently without being harassed by annoying questions. 

Its normally true but the Diamond industry is in the control of one family that sets the prices, controls the supplies and holds a lot of power. And it also depends on the quality of the diamonds. There is a such thing as "industral" diamons which is just refined carbon which isn't worth that much, and much of those diamonds could very well be industral diamonds. The ones that are not even if they are put on the market the ones that would buy them are the DuBeers who would sit on them like they have for many other deposits of diamonds to keep the prices up.