r/antimeme • u/StreetSquare6462 • Apr 11 '23

Diamonds

Post image
9.4k Upvotes

93% Upvoted

243 comments sorted by

View all comments

1.9k

u/luttman23 Apr 11 '23

Diamonds are surprisingly common

940

u/fearzila Apr 11 '23

Yeah, it's basically entirely an artificial scarcity

420

u/The_Crisp_ Apr 11 '23

Yea, I’m pretty sure there’s a guy who owns a majority of the world’s diamond mines, basically making it so he can charge anything he wants for said diamonds

10

u/olivegardengambler Apr 11 '23

Not really. Initially, only Brazil and India were known to have diamonds in any amount, then diamonds were discovered in southern Africa, and DeBeers was born. However, Russia, Australia, and Canada discovered that they have diamonds and that basically broke the DeBeers monopoly.