Diamonds Pile Up In Russian Vaults
Around 3 million carats of diamonds make their way every month to Russian state-owned vaults to be stored away because there are not many takers in these recessionary times. However, the diamonds keep coming into the diamond company that is state-owned, they are sorted, wrapped in paper and put into big burlap bags to go into the vault.
In better times, they used to be sent off all over the world but now, they are stored to wait for better times when their dazzle can delight the world once more. Who knows how long that will be? Diamonds are meant to be flaunted but these diamonds may have to live in the darkness of the vault for years, maybe.
If the prices of diamonds should be kept up and not allowed to crash, there will have to be some stockpiling done. With DeBeers going through very bad times, it is up to Russia to keep the dazzle in diamonds and not let them become just little pieces of carbon that shine. So maybe we should be thankful to those vaults for keeping the value up of the diamonds we own.
Tags: DeBeers. Russia, Diamonds
