So it seems the international cartels want to raise the price of an already worthless product by 20%.
I can't blame them on wanting to get in on the gold boom prices.
For those unfamiliar with the situation the diamond is an essentially worthless rock, and it only costs as much as it does new because a few large cartels (debeers being the largest) control access and distribution of it.
The blood diamonds are obtained in africa, then sent to Israel, turkey, russia or indonesia for processing/polishing/cutting and then sent to gem exchanges in USA or saudi arabia.
Small distributors and chains buy it at the exchanges, add it to their products and resell it to consumers.
The price of the diamond is approximately doubled during each sale.
I'd love to see some kind of swift, bloody and violent action to be taken against the diamond trade and to see it become true capitalist system with the cost being based on what the product is worth.
http://minnesota.cbslocal.com/2012/01/05/jeweler-expect-significant-price-increases-for-diamonds/
In the market for one of these worthless rocks, are you?
ReplyDeleteI already own a worthless piece of carbon that's been subjected to high pressure.
ReplyDeleteI have it on good authority that at least 1 entire african village was wiped out during the mining process, and several little fingers were crushed during the sleuthing process.