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Why Diamonds Are The World's Biggest Scam
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Transcript
Artificial scarcity
ENGAGEMENT RINGS
not an ancient tradition
roughly a centuary old ivention
Diamonds are not an investment
they are a retail product like any other. People explain away spending thousands of dollars on a little stone because they mistakenly believe that the diamond is a solid investment. Are there any other investment classes where the person selling you the asset makes a minimum 10 percent profit margin (usually much more)? Most people would be lucky to get half of what they paid if they tried to sell a ring the day after they bought it. Don't fool yourself into thinking that buying a diamond is a safe place to put away money for a rainy day.
Why Diamonds Are The World's Biggest Scam
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