This Country Pays 45% Interest On Your Money | Ep 154

I got one more question on the diamonds because it's so fascinating to me, and then we'll get to YieldFX.

So I actively enjoy buying precious metals.

I have silver.

I like to check spot on a relatively regular basis, and I use the AppMax app.

I have a great membership through them.

It's very simple, though, to understand what gold and silver is worth.

Now, when it comes to diamonds, there's all different types of grades and carats and clarity and this and that.

There's so many things that could impact the intrinsic value of a diamond.

How do you guys keep a standardized way of having it monetized without letting all those variable factors affect your product?

Once we reached orders of $10 million, now we had to go out and source the diamonds.

Along the whole curve of the diamond curve, if you look at color clarity and everything else, the value goes up.

We pick along that curve.

to make sure that each coin represents the same gemological value as the next coin we're picking.

So really it's computer generated.

We don't care, like we could buy something less than one carat or in between.

So we're like, you know, the vendors love us because we don't, are not that particular.

and what we buy.

And so what we had to do is create a diamond exchange, basically.

And we signed up all the vendors to that exchange.

So I have close to 200 vendors.

And they, you know, we tell the world what we need to buy, and then they list what they need to sell.

And we don't really chase things, but they, you know, normally they'll... you know on three trading terms hit our bid uh and then what the way we made it so more efficient um we had a um a grading company called igi so they have like 12 or 15 different locations around the world so where do we buy these diamonds from so say we buy it in hong kong is the vendors in Hong Kong.

So our IGI office in Hong Kong receives those diamonds.

They inspect it.

See, they're real.

I got one more question on the diamonds because it's so fascinating to me, and then we'll get to YieldFX.

So I actively enjoy buying precious metals.

I have silver.

I like to check spot on a relatively regular basis, and I use the AppMax app.

I have a great membership through them.

It's very simple, though, to understand what gold and silver is worth.

Now, when it comes to diamonds, there's all different types of grades and carats and clarity and this and that.

There's so many things that could impact the intrinsic value of a diamond.

How do you guys keep a standardized way of having it monetized without letting all those variable factors affect your product?

Once we reached orders of $10 million, now we had to go out and source the diamonds.

Along the whole curve of the diamond curve, if you look at color clarity and everything else, the value goes up.

We pick along that curve.

to make sure that each coin represents the same gemological value as the next coin we're picking.

So really it's computer generated.

We don't care, like we could buy something less than one carat or in between.

So we're like, you know, the vendors love us because we don't, are not that particular.

and what we buy.

And so what we had to do is create a diamond exchange, basically.

And we signed up all the vendors to that exchange.

So I have close to 200 vendors.

And they, you know, we tell the world what we need to buy, and then they list what they need to sell.

And we don't really chase things, but they, you know, normally they'll... you know on three trading terms hit our bid uh and then what the way we made it so more efficient um we had a um a grading company called igi so they have like 12 or 15 different locations around the world so where do we buy these diamonds from so say we buy it in hong kong is the vendors in Hong Kong.

So our IGI office in Hong Kong receives those diamonds.

They inspect it.

See, they're real.