Summon Dr Trayaurus with some cool trades!
All you need is a few basic items to get INFINITY emeralds and diamonds!
NOTE: The last trade is pretty crazy... it costs 64 diamond blocks (576 diamonds) to get an iron ingot! Seems like Dr Trayaurus is bad at finding iron...
If you would like to get free iron ingots, trade 9 books for 3 bookshelves and trade them for 1 emerald. Trade the emerald for a diamond then trade the diamond for 64 emeralds. Then trade all 64 emeralds for 64 diamonds (shift-click on the output) then trade all 64 diamonds for 576 emeralds (9 stacks of emeralds). Trade all 9 stacks of emeralds into 9 stacks of diamonds. Put all 9 stacks of diamonds into all boxes in a crafting table to craft 64 diamond blocks (shift-click). Then trade the 64 diamond block for 1 iron ingot. If you'll like an iron block, repeat this 9 times. So much work... Muahhhahhah! DEAL WITH IT!!!