Thoughts on diamonds?

Allison
This article basically explains how diamonds really have no intrinsic value, aren't actually rare, and the only reason they've come to be such a status symbol is because in the 1930s De Beers made people think they should be. I found it very interesting, was wondering what everyone else's thoughts were? 
http://blog.priceonomics.com/post/45768546804/diamonds-are-bullshit

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