Blood Diamond

[blackdiamond]

Let me preface this by saying that my wife wear a diamond ring so the point of this thread isn't to judge people that own diamonds.

Having said that, this morning I watched a TV show that documented several of the African conflicts that were essentially funding by the export of diamonds.  It was very graphic and likely gave a fairly realistic picture of how things happened.  Many innocent people had their hands/arms cut off during these wars.  Really nasty horrible stuff.

The thing that made me scratch my head was to learn about all the regulation that has been implemented to keep the blood diamonds off of the market while everyone knows that it'san impossible task because it's not possible to identify the source of a diamond.  Ironically, diamonds are not rare at all and the show documented the first person that really made them valuable with the marketing campain that began the connection between diamonds and love.  He realized that diamonds were not rare enough to be valuable so he worked to create a monoply to control the diamonds released to the market to keep demand high.  It sounds like at one time he controlled close to 90% of the diamonds on the open market.

So here's my question: Why hasn't anyone called the diamond industry out for hoarding diamond and creating an inflated value.  It seems that a simple way to end the wars that killed millions of people and disfigured a lot more could have been stopped simply by flooding the market with diamonds and essentially devaluing them.  Talk about greed as I'm sure I'm not the only one to have considered this fact.

[Shamb]

because women think they're pretty and men will do whatever women want to make them happy.. ?


have you ever watched the movie Blood Diamond w/ Leonardo Di Caprio ?   very similar to what you just explained just hyped up a little for shock value.

You could say the same about gas prices.... nothings going to change. It's the world we live in...

[Sparkplug]

very simple answer, $$$$$$$$$$$$$$$$$$$$$$

[THK Matt]

because women think they're pretty and men will do whatever women want to make them happy.. ?


have you ever watched the movie Blood Diamond w/ Leonardo Di Caprio ?   very similar to what you just explained just hyped up a little for shock value.

You could say the same about gas prices.... nothings going to change. It's the world we live in...

That movie was graphic! this world is MESSED UP!

[Toymin8r]

because women think they're pretty and men will do whatever women want to make them happy.. ?

x2.    Most guys could care less about diamonds.....or jewelry in general for that matter.  You would have to convince women that diamonds are not rare, not pretty and all have blood on them.   But unfortunately women's minds think more emotionally as opposed to logically so its not likely to happen.  If the story is true about one guy hoarding all the diamonds then I'd say he is a marketing genius.

Actually Cupic Zirconia can be as pretty or prettier than a diamond and just as rare but try and tell a woman that a $20 stone is better looking than a $2000 stone and you will get nowhere but pointed in the direction of an uncomfortable couch.

[Plekto]

Yep.  and 90% of the world's diamonds are in vaults now and they trickle out a supply every so often to keep the demand up.

The real way to tell the worth of a gemstone is what it sells for.  A Ruby, for instance, will sell for just about what you bought it for most of the time.  Same with a Sapphire.(technically they are the same other than color - interesting factoid) Same with Silver and Gold as well.  But Diamonds are simply off - they sell for 3-4X more than you can get back from them.

Plus, they are honestly, ugly.  It's like the white Toyota Camry of the gemstone world.   Bland, soulless, and everyone has one. 

[brainlessfool]

Plus, they are honestly, ugly.  It's like the white Toyota Camry of the gemstone world.   Bland, soulless, and everyone has one. 

[Rocksurfer]

For the same reasons that the oil producers hoard and artifically inflate the value of their product $. We have as consumers shown time and time again that the way to our wallet is to create a limited supply of that item. Black friday is a prime example of most peoples mentality, people trampling over others to get that item for a couple bucks less, we are a sad bunch.

Hey bf I have a Camry what's wrong with that?!

[Tofudude]

Not enough competition seems to be the problem for inflation.