This link has been bookmarked by 64 people . It was first bookmarked on 02 Mar 2006, by Matt scifo.
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electrastephInteresting discussion of issues in the diamond industry. There are some alternatives to diamond cartels if you really like diamonds but don't want to participate in and exploitative monopoly.
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ken .From the Ultimate Field Guide to the U.S. Economy- the ugly side of an overpriced commodity, no investment, invented by an advertising agency, exploiting workers, funding war etc. - see also the atlantic research on debeers
6 * advertising business control diamonds economics marketing po power psychology
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one kellinteresting
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02 Apr 05
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1. You've Been Psychologically Conditioned To Want a Diamond The diamond engagement ring is a 63-year-old invention of N.W.Ayer advertising agency. The De Beers diamond cartel contracted N.W.Ayer to create a demand for what are, essentially, useless hunks of rock.2. Diamonds are Priced Well Above Their Value The De Beers cartel has systematically held diamond prices at levels far greater than their abundance would generate under anything even remotely resembling perfect competition. All diamonds not already under its control are bought by the cartel, and then the De Beers cartel carefully managed world diamond supply in order to keep prices steadily high.3. Diamonds Have No Resale or Investment Value Any diamond that you buy or receive will indeed be yours forever: De Beers’ advertising deliberately brain-washed women not to sell; the steady price is a tool to prevent speculation in diamonds; and no dealer will buy a diamond from you. You can only sell it at a diamond purchasing center or a pawn shop where you will receive a tiny fraction of its original "value."
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