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- cross-posted to:
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Honestly, with lab grown diamonds disrupting the market, keeping money in gems seems dumb as fuck in 2026. Get rid of that shit while you can.
Russia is in a major fuel crisis, this won’t help. The Russian economy is in a severe recession which will get worse as Ukraine continues to destroy their logistics. Putin should announce leaving Ukraine immediately, it’s the only way to stop Russia from falling apart.
They’re probably selling because lab grown diamonds are indistinguishable from natural diamonds and the value of their diamond stock is plummeting
And also getting their shit kicked in by Ukraine is hella expensive.
But you are right, it’s probably about time to liquidate diamond stockpiles. That market is dwindling.
I’m sure being in the “pawning off your jewels” stage is not indicative of anything concerning for them.
Eh, wake me up when he’s sewing them into his clothes.
Until then, I aensesthetize.
I wonder if Putin will tap into the many, many, many billions he has stolen over the decades, to keep his little round of FAFO going?
Apparently, no. Sell the “family jewels” long before tapping his own purse.
Yeah, it’s estimated at hundreds of billions. This fuckin guy.
Stealing at that level is parts of companies, building mansions, etc. Not so easy to sell.
He asked the country’s oligarchs to “voluntarily” gift money to he state.
Russia is about to settle the debate of who is stronger: the Oligarchs or the Dictator.
Russia’s Finance Ministry said will hold an open auction in Moscow on September 9 to sell natural rough diamonds weighing 10.8 carats or more from the country’s state fund.
The central bank has sold 43.5 metric tons of gold since January while Russia’s federal budget deficit approached 6 trillion roubles (€67 billion) in the first half of the year.
That sounds like a lot of gold!
The problem Putin faces is that nobody wants his state bonds. I suppose diamonds are a safer asset…
I wonder how stable the price is though. And how de beers is going to respondMore important is that finally, synthetic diamonds from China crashed the bullshit overvaluation. De Beers is getting fucked right now, and I’m loving it.
The line colors are different sizes in carat.Do you have a chart that shows the actual change in price, not the change in the change in price?
Not in the two minutes I’ve spent looking for this. All I wanted to tell is that this is a terrible time for Russia to sell off their diamonds. And for De Beers to exist. But my pity is very limited for both.
