Diamond Manufacture.
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11-01-2012, 01:49 PM
Diamond Manufacture.
Hey guys, its been already done, the manufacture of diamonds in a lab.
Diamonds have very unique chemical and physical properties that could
potentially bring about a 2nd industrial revolution.
[See Novasceince Now - Diamond Factory]
What would happen if diamonds were mass-produced economically
and politically speaking?
I'm thinking that their price would be lowered but that's as far as i can go
since i have no background economic thinking, i can come up with some
hypothesis but they would be all baseless assumptions on my part.
Anyone here with a background or knowledge in economics or politics care to
enlighten me?
Would the political/economical field try to hinder this breakthrough for how it
can potentially diminish the diamond market?
Or would the mass production of diamonds be a good breakthrough in these respects?

"Yeah, good idea. Make them buy your invisible apple. Insist that they do. Market it properly and don't stop until they pay for it." -Malleus
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11-01-2012, 01:55 PM
RE: Diamond Manufacture.
I thought they made artificial diamonds a while ago?

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11-01-2012, 01:58 PM
RE: Diamond Manufacture.
(11-01-2012 01:55 PM)FSM_scot Wrote:  I thought they made artificial diamonds a while ago?

yeah quite a while, im talking about mass production

"Yeah, good idea. Make them buy your invisible apple. Insist that they do. Market it properly and don't stop until they pay for it." -Malleus
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11-01-2012, 02:06 PM
RE: Diamond Manufacture.
(11-01-2012 01:58 PM)Jackrabbit Wrote:  yeah quite a while, im talking about mass production

Ah right.

Apart from use in drills and jewellery, I don't really know what other uses you get for diamonds. Its still a pretty amazing substance though.

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11-01-2012, 02:31 PM
RE: Diamond Manufacture.
Supercomputers are also starting to use diamonds, but drills, saws and other electronics also use diamonds that are synthetically produced. Diamonds are the only thing I know of were a single entity is allowed to have a monopoly and the De Beers family is actually protected by this. The reason is to maintain a high-price for diamonds so that synthetically manufactured diamonds would not be made in mass and bought by jewelry makers. Synthetic diamonds are therefore not commonly used in jewelry for this reason while other precious stones are often times synthetic, like rubys, emeralds, sapphires, garnets, etc. As a matter of fact, synthetics are often more valuable because they lack impurities that cause them to be cloudy or discolored. It is also impossible to discern a synthetic diamond from a natural diamond and I suspect this is a large art of the reason why the diamond in that engagement ring has a certificate and a serial number to go along with it.

In short, diamond prices are protected and synthetic diamonds are only commonly used for industrial purposes.

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11-01-2012, 02:35 PM
RE: Diamond Manufacture.
They will never be mass produced. De Beers has a stranglehold on the industry and could lobby harder than damn near any other industry. It's my understanding that they are holding onto trillions and trillions of dollars worth of diamonds they've mined just so they can manipulate the price.

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

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11-01-2012, 02:36 PM
RE: Diamond Manufacture.
(11-01-2012 02:35 PM)germanyt Wrote:  They will never be mass produced. De Beers has a stranglehold on the industry and could lobby harder than damn near any other industry. It's my understanding that they are holding onto trillions and trillions of dollars worth of diamonds they've mined just so they can manipulate the price.

Exactly correct, and they are allowed to do so in order to protect the global price of the diamonds. They are allowed to have a monopoly on diamonds so that there is no competition among companies that drives the price down.

“Science is simply common sense at its best, that is, rigidly accurate in observation, and merciless to fallacy in logic.”
—Thomas Henry Huxley
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11-01-2012, 02:44 PM
RE: Diamond Manufacture.
(11-01-2012 02:36 PM)TheBeardedDude Wrote:  
(11-01-2012 02:35 PM)germanyt Wrote:  They will never be mass produced. De Beers has a stranglehold on the industry and could lobby harder than damn near any other industry. It's my understanding that they are holding onto trillions and trillions of dollars worth of diamonds they've mined just so they can manipulate the price.

Exactly correct, and they are allowed to do so in order to protect the global price of the diamonds. They are allowed to have a monopoly on diamonds so that there is no competition among companies that drives the price down.

I think the global concensus is that we are better off with a price manipulating monopoly than the collapse in the value of an entire segment of the economy.

“Whenever you find yourself on the side of the majority, it's time to pause and reflect.”

-Mark Twain
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11-01-2012, 03:23 PM
RE: Diamond Manufacture.
Agreed. If the bottom dropped out of the price of diamonds or gold, we would experience a most unpleasant adverse effect on global economies.

“Science is simply common sense at its best, that is, rigidly accurate in observation, and merciless to fallacy in logic.”
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11-01-2012, 03:38 PM
RE: Diamond Manufacture.
Um... De Beers doesn't have a diamond monopoly.

Quote:In 2000, the De Beers model changed,[19] due to factors such as the decision by producers in Russia, Canada and Australia, to distribute diamonds outside of the De Beers channel, thus effectively ending the monopoly.[6][18] Current major players in the diamond industry are the African producers Debswana and Namdeb, De Beers, Rio Tinto, BHP Billiton, Lev Leviev, Harry Winston, and Alrosa.[20]
In November 2011 the Oppenheimer family sold the entirety of their 40% stake in De Beers to Anglo American thereby increasing Anglo American's ownership of the company to 85%.[21] The transaction was worth $5.1 billion in cash and ended the Oppenheimers' De Beers Dynasty's 80-year ownership in the world's largest diamond miner.[22]

taken from

http://en.wikipedia.org/wiki/De_Beers
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