I don't get what Jay Adkisson is saying most items in the world are not valued by the exactly by the cost to produce them but on how people agree what its value is. In ancient times I fail to see any use for precious gems (diamonds, sapphire, ruby, etc...) besides looking pretty but people agreed that they have some value (not sure of the other gems but I think diamonds are the only one that has any practical use... well if you are using industrial drills or something).

By his logic the following item is being sold as a scam as well. I do not think a lot of people will be interested in this but I don't think when someone buys or sells this some expert somewhere will call it a scam (assuming that the item is genuine). Or am I am missing something from the article???