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        Daily Chat >> General Posts >> My heart bleeds for these dudes
        
(Message started by: artonio7 on Feb 8th, 2008, 3:36pm)
Title: My heart bleeds for these dudes
Post by artonio7 on Feb 8th, 2008, 3:36pm
LONDON (AFP) - De Beers, the world's biggest diamond company, said Friday its 2007 sales fell three percent to 6.84 billion dollars (4.71 billion euros) and flagged a "high level of uncertainty" about its business this year. (http://tinyurl.com/37ku69)

If they ever flooded the market with all the diamonds mined they'd be worthless.
The profits being made are outrageous and they're moaning that their sells fell 3% to 6.84 BILLION DOLLARS!!!

this world is goofy.

with warm regards,
Tony
Title: Re: My heart bleeds for these dudes
Post by Paul98 on Feb 8th, 2008, 3:49pm

on 02/08/08 at 15:36:02, artonio7 wrote:
LONDON (AFP) - De Beers, the world's biggest diamond company, said Friday its 2007 sales fell three percent to 6.84 billion dollars (4.71 billion euros) and flagged a "high level of uncertainty" about its business this year. (http://tinyurl.com/37ku69)

If they ever flooded the market with all the diamonds mined they'd be worthless.
The profits being made are outrageous and they're moaning that their sells fell 3% to 6.84 BILLION DOLLARS!!!

this world is goofy.

with warm regards,
Tony


Maybe they should bitch to the oil companies for soaking up peoples disposable income.  De Beer's profits are peanuts compared to Exxon.

-P.
Title: Re: My heart bleeds for these dudes
Post by brewcrew on Feb 8th, 2008, 3:51pm

on 02/08/08 at 15:36:02, artonio7 wrote:
If they ever flooded the market with all the diamonds mined they'd be worthless.

As would the ones that many folks around here own.


Quote:
The profits being made are outrageous and they're moaning that their sells fell 3% to 6.84 BILLION DOLLARS!!!

Does it mention what their operating margin is? Your sales can fall to 6.84 billion, but if you spend 6.83 billion to bring your product to market, you're still only clearing 10 million.


Quote:
this world is goofy.

No argument there, my friend.
Title: Re: My heart bleeds for these dudes
Post by fubar on Feb 8th, 2008, 3:59pm
DeBeers seels shiney bobbles that would have zero value unless DeBeers was able to fool the entire world that they were 'precious'.

Exxon sells a valuable commodity that you couldn't stop consuming if you tried, and they only supply 3% of the world's oil.  Their profits are huge in comparison to DeBeers, but their margin is quite average, around 9.1%.

http://www.azstarnet.com/allheadlines/223724
Title: Re: My heart bleeds for these dudes
Post by barry_sword on Feb 8th, 2008, 4:09pm
I would rather spend my money on "De Beers" in my frig! ;;D
Angie has a diamond that she got from her mother after she passed away but we would not waste the money on something like that, but that is us.

A diamond is a rock, right? Well I live on rock!! So I do not need to buy a diamond. [smiley=crackup.gif]
Title: Re: My heart bleeds for these dudes
Post by DennisM1045 on Feb 8th, 2008, 4:12pm

on 02/08/08 at 15:59:03, fubar wrote:
DeBeers seels shiney bobbles that would have zero value unless DeBeers was able to fool the entire world that they were 'precious'.

Dude, you are married right?  ;;D

-Dennis-
Title: Re: My heart bleeds for these dudes
Post by Paul98 on Feb 8th, 2008, 4:39pm
What a lot of folks don't know is Canada has some of the richest diamond deposits on earth.  A smart geologist saw all the little round lakes in the tundra and figured they were ancient magma pipes and they turned out to be loaded with diamonds.   ;;D    Many of the trucks on the Ice Roads are hauling for the mines.

-P.
Title: Re: My heart bleeds for these dudes
Post by brewcrew on Feb 8th, 2008, 4:46pm

on 02/08/08 at 16:09:41, barry_sword wrote:
A diamond is a rock, right? Well I live on rock!! So I do not need to buy a diamond. [smiley=crackup.gif]

Rock on, dude!
Title: Re: My heart bleeds for these dudes
Post by fubar on Feb 8th, 2008, 4:53pm
I live under a rock.  Does that count?
Title: Re: My heart bleeds for these dudes
Post by Annette on Feb 8th, 2008, 5:02pm

on 02/08/08 at 15:59:03, fubar wrote:
DeBeers seels shiney bobbles that would have zero value unless DeBeers was able to fool the entire world that they were 'precious'.



But Fu, these bobbles sparkle ! You should see the way they sparkle in the sunlight ...

How can something that sparkle not be "precious " ?  ;) 8) ;;D
Title: Re: My heart bleeds for these dudes
Post by monty on Feb 8th, 2008, 5:07pm
At one point in history, pure aluminum was the most expensive and precious of the metals. Nobody knew how to effectively refine it from the ore.  Today we decorate our highways with millions of empty aluminum beverage containers!

Diamonds are no different - the carbon is not rare, but the crystalline form is was.  There are now several companies that create true diamond carbon at a cost well below what people will pay. These have the old-school diamond cartels rather worried.  
Title: Re: My heart bleeds for these dudes
Post by Batch on Feb 8th, 2008, 5:13pm
Exxon drills holes in the ground and under the sea...  Ships in US flagged super tankers, stores the crude in highly regulated US storage facilities, and refines in even more heavily regulated US refineries...  then trucks the product to your local self-fill gas station takes prudent precautions and calculated risks in doing the above to obtain that profit margin (and pay into a lot of 401Ks and IRAs).  

The outfit that takes no risks, has no real operating expenses relative to the oil business yet takes 18.4 cents for every gallon of gas you buy for a little over 6% profit margin is the one I watch very closely...

That would be the Federal Government and the tax hike hungry socialist on the left.  

The pinko socialist liberals would let the present tax cuts expire raising your tax by an additional $1,500 to $1,800 a year then smile at you like you were severely mentally challenged or a 2 year old, then pat you on the head saying... "We didn't raise your tax."  Then they'll tax every dollar you pull from your 401K and IRA...  If you want a real thrill, read the Catch-22 rules on your IRA...  

Some folks think the smart way to keep some of their hard earned money out of the taxmeister's hands is to place it in "hidden wealth" like good quality gold coins and investment grade diamonds...  likely from De Beers, store them in a very safe place, then sell either for cash when the need for money comes up.
Title: Re: My heart bleeds for these dudes
Post by barry_sword on Feb 8th, 2008, 5:27pm

on 02/08/08 at 17:02:10, Annette wrote:
But Fu, these bobbles sparkle ! You should see the way they sparkle in the sunlight ...

How can something that sparkle not be "precious " ?  ;) 8) ;;D


Here is one that sparkles and there is an endless supply of it where we mountain bike. We could trim it up and set it in a ring and not cost a cent, except the gas to get there and the gold ring to put it in! [smiley=eek5.gif]

http://im1.shutterfly.com/procserv/47b8dc29b3127cceb5fd4e8d307a00000026101AZtGrZu5asU

;;D ;;D
Title: Re: My heart bleeds for these dudes
Post by barry_sword on Feb 8th, 2008, 6:03pm

on 02/08/08 at 16:39:29, Paul98 wrote:
What a lot of folks don't know is Canada has some of the richest diamond deposits on earth.  A smart geologist saw all the little round lakes in the tundra and figured they were ancient magma pipes and they turned out to be loaded with diamonds.   ;;D    Many of the trucks on the Ice Roads are hauling for the mines.

-P.


Here is a link to this. Really amazing.

http://www.thedieselgypsy.com/Ice%20Roads-3B-Denison.htm

That is some serious ice! :o
Title: Re: My heart bleeds for these dudes
Post by George_J on Feb 8th, 2008, 6:12pm

on 02/08/08 at 16:39:29, Paul98 wrote:
What a lot of folks don't know is Canada has some of the richest diamond deposits on earth.  A smart geologist saw all the little round lakes in the tundra and figured they were ancient magma pipes and they turned out to be loaded with diamonds.   ;;D    Many of the trucks on the Ice Roads are hauling for the mines.

-P.


It's an aside, I know, but an interesting one (at least to me.)  

I grew up in northern Indiana, above the glacial moraine.  One thing that always fascinated me as a kid were the stories of a few, rare gem-quality diamonds that had been found in the glacial till (800 feet deep where I lived) all along the moraine.

I spent more time than I'd care to tell you digging in gravel pits and scrounging along railroad right-of-ways, looking for diamonds.  Never found any, but I learned a bit about minerals and fossils along the way, so it wasn't a complete waste.      ;)

The glacial till consists of all sorts of random rocks that were shoved and dragged south by the continental glaciers--no rhyme or reason, just jumbled together.  We always knew there were diamonds, somewhere to the north of us....turns out, northern Canada is where they were.

The best book I've seen about the discovery of diamonds in the NWT of Canada is--"Diamond:  A Story of an Obsession" by Matthew Hart.  Very well written.

Just triggered an association of pleasant hours spent treasure-hunting.  

Back to your regularly scheduled thread.  

Best,

George
Title: Re: My heart bleeds for these dudes
Post by Jonny on Feb 8th, 2008, 8:14pm
http://savvysugar.com/956510
Title: Re: My heart bleeds for these dudes
Post by Charlie on Feb 9th, 2008, 12:57am
Awwwwwwwww. Poor people. Diamonds were handy to keep empires going too.

That would be the Federal Government and the tax hike hungry socialist on the left.

Remember the fabulous 50s that everyone just loves to use as an example of our past greatness? Tax rates scraped 90% but greed was human nature, which is fine. It's how things work but unlike today, it wasn't the only goal.

Charlie


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