2012: Doubtful Find, Bad News and Nudity
December 25, 12
By far the most popular article this year, drawing attention near and far and quoted in the general press, is the one about the trillions of carats in industrial diamond reserves supposedly found in Russia. Too bad the whole story was practically a hoax. The supposed resource has Lonsdaleite, also known as hexagonal diamond, not diamonds. The recent decision by ABN AMRO to seal Arjav’s diamond inventory until it pays off a $150 million credit facility set off wild industry speculation about what was behind the decision. IDEX Online was the first to report the story. In a follow up report, editor in chief Edahn Golan brought the details. Both items made it to the year’s top 10. The police and tax authority raid on the Israel Diamond Exchange was bad news for many. Reports on the first and second raid made it to our top 10 list. In this case, non-Israeli traders wanted to know if it’s safe to travel to the IDE. Chaim Even-Zohar’s 2011 Diamond Pipeline, detailing the challenging environment of 2011, documented the rise of recycled goods and reported the changes in trade along the pipeline. Besides bad news, which also included a report about an alleged Ponzi scheme and the 600 undisclosed lab-made diamonds caught in Antwerp, rough and polished diamond prices were of great interest too, especially if prices declined… One item that keeps drawing great attention is a report from 2006 about a $30 million diamond bikini featured in Sports Illustrated Swimsuit issue. The image of a near naked Molly Sims with nothing but a few well-placed diamonds is the only leading story that truly bares no bad news. Top 10 News Reports of 2012: Russia Reveals Trillions of Carats in Industrial Diamond Reserves Diamond Inventory Sealed Due to DTC Sightholder's Huge Unpaid Bank Debt 16 Arrested for Operating a "Bank" Inside the Israel Diamond Exchange 2011 Diamond Pipeline: Chasing Paper Profits ABN AMRO Vs Arjav – It's About Transparency and a Sign of Things to Come Israel Exchange Raided Again by Police Alleged Ponzi Scheme Rocks Israeli Diamond Exchange IDEX Online Rough Diamond Market Report: Stuck in a Rut IDEX Online Research: Polished Diamond Prices Decline 6.9% in July $30 Million Diamond Bikini Featured in Sports Illustrated Swimsuit Issue
Old news is good news, according to loyal newsreaders