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People are taking the piss out of this FT article “Millennials aren’t buying diamonds – why?” and it’s pretty funny

“Millennials aren’t buying diamonds – why?” asks The FT somewhat ridiculously.

Certainly a question on everyone’s lips – and of course the comments are gold.

  • “My goodness, what an idea. Why didn’t I think of that?” says @Dubasfisher.
  • “Is it because they blew all their money on avocados?” says @Relentl3ss.
  • “What’s wrong with Diamonds on toast I ask?” says @Dsic.
  • “Because I shop at the fucking dollar tree for food bitch!” notes @Valeriecomplex.
  • “Because they’re worthless stones ruthlessly dug up and held in false scarcity by awful international cartels. Next question.” says @Kenlowery.
  • “Because I have other things to worry about like student loans, rent, food, staying alive.” writes @Bobhagh.

    Even the comments on the site from people who actually pay for the FT think this is ridiculous

    BTW: If you want to read more on diamonds and De Beers then we strongly recommend this revelatory 1982 article from The Atlantic.

    Have You Ever Tried to Sell a Diamond?
    An unruly market may undo the work of a giant cartel and of an inspired, decades-long ad campaign

    The diamond invention—the creation of the idea that diamonds are rare and valuable, and are essential signs of esteem—is a relatively recent development in the history of the diamond trade. Until the late nineteenth century, diamonds were found only in a few riverbeds in India and in the jungles of Brazil, and the entire world production of gem diamonds amounted to a few pounds a year. In 1870, however, huge diamond mines were discovered near the Orange River, in South Africa, where diamonds were soon being scooped out by the ton. Suddenly, the market was deluged with diamonds. The British financiers who had organized the South African mines quickly realized that their investment was endangered; diamonds had little intrinsic value—and their price depended almost entirely on their scarcity. The financiers feared that when new mines were developed in South Africa, diamonds would become at best only semiprecious gems.

    Source: https://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/

    Source: Twitter/@ftcomment