this post was submitted on 25 Jan 2026
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When life gives you ~~lemons~~ theft, commit insurance fraud! I say fuck the rich "victims"...
https://apnews.com/article/brinks-jewelry-heist-ice-deportation-687c0197eda0ee6c8bfd1fb7f5987f35
I think it was said the fraud is actually in the other direction. Jewelry is regularly undervalued to reduce the cost of insuring it.
https://nypost.com/2022/08/13/brinks-doubts-gems-were-150m-in-jewel-heist-lawsuit/
I don't think that's fraud. If you insure an object for $100, then you get $100 if it pays out. That the object was actually worth a trillion dollars is neither here nor there
Not really fraud when it comes to insurance which is what my wording most implied. Good point.
I was thinking that it might be considered fraud when amounts were reported to Brink but I admit I know nothing about transportation/security type things. If Brink is just insuring it and the security is just to protect what is insured maybe it doesn't matter. I know I'd be pissed if I was told I'd been transporting a much higher value target than I was paid to transport, and on a regular basis. $150 million is way more dangerous to transport than $8 mil.
Certainly, there are a bunch of other people who might legitimately need to know what they're dealing with
In addition to all of the above thread, there's also two ways to "value" jewelry. A) How much you could get someone to pay you for the item if you sold it, and B) How much it would cost to replace it with something identical or equivalent. Usually B is waaaaaay more expensive than A, unless it's common Walmart jewelry counter grade stuff. And even then, B is merely waaay more expensive than A.
There’s also C) How much the individual components of the jewellery are worth if disassembled/smelted down - i.e. the spot price of any gems or metals used in the piece of jewellery’s construction. This is usually the lowest form of valuation as it doesn’t take into account the labour/expertise of construction and has an associated smelting cost to extract the raw components.
All 'value' is bunk.
Back in the day, there was a place where you could trade a pound of salt for a pound of gold.
Both were worthless where they were found.
Per Marx, value is a social construct, but it's not "bunk" because it is directly tied to the labor necessary to produce something.
Now you're just playing with words.
Obviously it took a lot of effort to get the salt to the place where it would be swapped for gold.
Also, a lot of people like to say that the book 'Starship Troopers' is fascist, but the society uses Marx's definition of value.
Haven't read the book so can't comment on it specifically. That said, some economic parts of socialist theories have been used to some extent by nazis (hence "National Socialists"), so it's not unthinkable. This doesn't diminish the merits of Marxism, especially because Marx's more political writings were expressly antifascist if analyzed from a more modern lens; besides, we had a lot of scientific development in understanding nationalism, colonialism and imperialism since then (see: Lenin, Fanon).
Yes, that is the point. Value is not "bunk", it is a very real social relationship primarily determined by the amount of labor expanded on producing a commodity and marketing it (in the sense of "bringing to market"). There is also a degree of speculation embedded in the actual price of any commodity, which is problematic, but it doesn't make the concept of value itself bunk.
Jewelry is not under valued, what fuck you smoking? My best friend run a Jewelry wholesaler business that shit is mark up 1000% especially diamonds.
Personally, I think "pretty" things kept artificially scarce and heavily marketed to the point that there is a social obligation to purchase them for certain occasions are worthless. I have no idea why you are trying to pick a fight about this stupid shit.
Under capitalism, the economic system in which this "heist" took place, things are worth what you can sell them for. That's the capitalist definition of value. If you mark them up 1000% and people will still buy them then you can say they are worth 1000%.