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Are diamonds really worth less than water? Diamonds have been branded as a girl’s best friend and a necessary gem for wives, rappers, and sports stars. Hats off to De Beers and Alrosa for creating notable marketing campaigns like “A Diamond is Forever” to fuel our desire for these pieces of sparkly carbon. Diamonds are engrained in to our culture and lifestyle thus they are sought after as a luxury item.
A recent New York Times article goes into a very interesting explanation of the world’s diamond market and how Russia and several companies are stock piling all newly mined diamonds to decrease supply and keep prices up despite sinking demand. It sure seems that water is and will be worth more in the world economy than diamonds. This leads me to a suggestion maybe real estate will act as the new engagement piece in the future?
I look forward to hearing your thoughts!
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