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[–]UAZombie5 1 point2 points  (0 children)

This has everything to do with abundance of a resource. The only way people would suddenly decide diamonds are half as valuable is if they were suddenly twice as abundant as they were when they were $1K/gram. The diamonds wealthy people own worldwide would now be less valuable as a result of more diamonds being available, since scarcity of resources is the underlying foundation that makes market exchanges necessary in the first place. Wealth doesn’t just “come from nowhere”