The only reason diamonds are valuable is because the DeBeers company has an almost complete vertical monopoly. This means they own the diamond mines (where they also exploit local laborers), the processing plants, the polishing and shaping business, everything. Pretty much every diamond you buy comes from them. Since they control the supply, they can charge whatever they want, so they create superficial scarcity and charge ridiculous prices
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:P
That's not your step-cat by the way, that's the only daughter you'll ever have.
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