Diamond prices are down 60% since a 2011 high, and they are still falling. It's not all down to lab-grown diamonds, demand is down too, especially in China.

No one can lab-grow gold yet, so its rarity and scarcity protect its value, but that will end too. It's just a question of when. China launched an asteroid touch-down mission this week, which will make it the 4th country/region to do so, after Europe, the US & Japan.

How soon will it be feasible to mine asteroids? Who knows, but a breakthrough in space propulsion might mean the prospect happens quickly when it does. It's possible gold has twenty years or less of being high value left.

The $80 Billion Diamond Market Crash Leaves De Beers Reeling

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[–] Lussy@hexbear.net 43 points 1 month ago (9 children)

We shit on capitalism a lot but we rarely acknowledge the true greats of the game.

I can’t think of a more evil corp than De Beers aside from Bayer pharma and maaaaaybe Monsanto and Nestle.

This a momentous occasion for gravedancers

[–] RoabeArt@hexbear.net 26 points 1 month ago (1 children)

Bayer owns Monsanto, or at least its old assets. Monsanto as a company doesn't exist anymore.

[–] Lussy@hexbear.net 14 points 1 month ago

Incredible. Bayer really looked at Monsanto and said ‘that’s a culture fit’ out loud

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