October 30, 2006

A transcript from Frontline on the De Beers diamond cartel. This aired over ten years ago, but it's still relevant, I think. I found it fascinating. I've read about the diamond cartel before, but this had more history and info than I'd seen before. (Warning: pretty long.)

Mr. HELSBY: The other interesting feature of the Russian diamond production was that there was an extraordinarily large proportion of medium-sized stones in the quarter- to half-carat size. De Beers then came up with perhaps one of the great new product inventions in jewelry history, the "eternity ring," a ring that was designed to use up this excessive production of low-size stones. And it is perhaps amusing to think that, at the height of the cold war, the eternity ring that was being so successfully marketed in America was filled with stones from Siberia. NARRATOR: As the Soviet Union became an important source of small stones, the problem for the diamond industry became finding cutters willing to work for low enough wages to make these stones profitable. India soon developed into the world's greatest cutting center. There are 750,000 cutters in workshops around Surat, perhaps 100,000 of them children under 13. They place 58 exact cuts on a diamond less than half a carat, smaller than a broken pencil lead. Many children work a 12-hour day, six days a week. They earn 4 cents a stone. DALE BEARMAN, Jewelry Manufacturer: The Indian diamonds have made it possible to make a low-priced jewelry that looks like a lot. It's called "more flash for less cash." This is the expression that's used in the industry, and this seems to be the trend. We perceive popular retail price points to top out at about $500 -- this is what most of our customers are demanding now -- and starting as low as $75, $80. We just got in some new samples today. These are examples. Here's a ring that sells for $70. There is $2 worth of diamond in this ring. But the fact that we can market it as an article with a genuine diamond makes it more salable. Here's another ring. This is a $90 ring. There's a $1 diamond in here. It's a white finish that makes it appear like diamonds. There's only one diamond in the center.

posted by Melinika 18 years ago
  • Mel, thanks for posting this. The Frontline piece is great, fascinating and informative. I saw it a few years ago, altho I was already generally cognizant of the fuckedupedness of the diamond industry. I have since been surprised to find out how many people have no idea about this history. I am not going to go on an anti-diamond diatribe, but if you are looking to buy precious gems the more information you have about it the better. The diamond industry is corrupt but there are many other lovely gemstones available, not all of which are dripping with blood and bad political juju.
  • Monkeyfilter: dripping with blood and bad political juju. How'd I do, GranMa?
  • Also the "created" diamonds are starting to hit the market. See This Atlantic article that I found via via this MeFi thread that kicked @$%. The article (which is probably echoed if not re-covered by the Frontline program (sorry I haven't seen it yet)) is about the marketing of diamonds as the true measure of your true love for her. And him. And it. Etc.
  • Lab-created gemstones are the perfect solution for those who like their sparklies but are concerned about where their stones are coming from. Conflict-free, environmentally friendly, and generally damn cheap compared to natural prices. And you can get tons of different gem varieties that way, too. After ten years selling jewelry, though, I can tell you: most people don't want 'em, because they think they're "fake."
  • Best company I ever dealt with, btw, is Chatham. Most jewelers carry them. Great company, actually warranties their stones, even emeralds.
  • There's a one-eyed yellow idol to the north of Khatmandu, There's a little marble cross below the town; There's a broken-hearted woman tends the grave of Mad Carew, And the Yellow God forever gazes down. He was known as "Mad Carew" by the subs at Khatmandu, He was hotter than they felt inclined to tell; But for all his foolish pranks, he was worshipped in the ranks, And the Colonel's daughter smiled on him as well. He had loved her all along, with a passion of the strong, The fact that she loved him was plain to all. She was nearly twenty-one and arrangements had begun To celebrate her birthday with a ball. He wrote to ask what present she would like from Mad Carew; They met next day as he dismissed a squad; And jestingly she told him then that nothing else would do But the green eye of the little Yellow God. On the night before the dance, Mad Carew seemed in a trance, And they chaffed him as they puffed at their cigars: But for once he failed to smile, and he sat alone awhile, Then went out into the night beneath the stars. He returned before the dawn, with his shirt and tunic torn, And a gash across his temple dripping red; He was patched up right away, and he slept through all the day, And the Colonel's daughter watched beside his bed. He woke at last and asked if they could send his tunic through; She brought it, and he thanked her with a nod; He bade her search the pocket saying "That's from Mad Carew," And she found the little green eye of the god. She upbraided poor Carew in the way that women do, Though both her eyes were strangely hot and wet; But she wouldn't take the stone and Mad Carew was left alone With the jewel that he'd chanced his life to get. When the ball was at its height, on that still and tropic night, She thought of him and hurried to his room; As she crossed the barrack square she could hear the dreamy air Of a waltz tune softly stealing thro' the gloom. His door was open wide, with silver moonlight shining through; The place was wet and slipp'ry where she trod; An ugly knife lay buried in the heart of Mad Carew, 'Twas the "Vengeance of the Little Yellow God." There's a one-eyed yellow idol to the north of Khatmandu, There's a little marble cross below the town; There's a broken-hearted woman tends the grave of Mad Carew, And the Yellow God forever gazes down. --J. Milton Hayes
  • It's interesting that so much of that mefi thread is about how women expect a diamond ring. I used to joke that if any guy proposed to me with a ring, it would be a clear sign that he didn't really *know* me and I should run. But if a friend proudly shows me her engagement ring, I ooh and ahh like everyone else--who am I to rain on her parade?
  • Those concerned about blood diamonds can always shop Canadian. Be sure to check for the Canadian label, as etched in with frickin' laser beams.
  • WHoooO! Women! Yeah! Am I right, fellas? Hah? Yyyeeeah!
  • I might add, my mother's favorite ring to this day is her engagement ring from my father (they divorced a good 31 years ago). A lovely polished blue stone in a simple setting, purchased for a dime from a gumball machine.
  • "Critics insist that the high price of diamonds is purely artificial, not subject to economic constraints of supply and demand but entirely dependent on the machinations of De Beers—a cartel, as it is often called, not least by the antitrust division of the United States Department of Justice. (De Beers was indicted in a 1994 price-fixing case, and its executives do not set foot on U.S. soil for fear of subpoena.)"
  • Yes, kudos Mel .. Amnesty International also has a nifty Flash movie about conflict diamonds, and Guerrilla News Network has a VERY disturbing video available called The Diamond Life. WARNING: Supremely distressing stuff in that GNN vid. Proceed with caution.
  • Wired mag had an article a coupla years ago "the diamond age" about the upcoming created diamond technologies and some ways in which these "cartels" were seeking to interfer with and derail the development of these technologies (ie, scientists getting death threats etc.,) lemme see if I can find it....
  • here we go...
  • You beat me to it, Medusa. I thought I read that article from a post in these parts? Another thing I thought I read from somewhere in monkeyville was about a book called "The Diamond Age" about the next technological age of man and some crazy sci-fi plots that unfold in a William S. Gibson/Phillip K. Dick way. Anyone want to articulate that better than I did? Or maybe it wasn't from 'round here.
  • "The Diamond Age" is a sci-fi book by Neal Stephenson; is that what you mean? It's a very good book.
  • hajen, stop pussyfooting around! the diamond age (by neal stephenson) is one of the best books ever. I require you all to read it right away. seriously, it's beautiful and it will improve your vocabulary :)
  • Much like another of his books, Zodiac, will make you wonder just how come pollution hasn't already killed us humans.
  • I've never understood the fascination with diamonds. It's a nice stone with good industrial uses, but for decoration I find opals much more attractive. I agree that everyone should read The Diamond Age; I think it's Stephenson's most interesting book to date.
  • Labradorite is a flashy but handsome.
  • Metaphysical properties? *rolls eyes*
  • c'mon nunia, quit blocking. Thanks for the link Sir Bees, that is a nifty slice of rock indeed. As for The Diamond Age, I will take it under consideration for the pile of to-reads.
  • Who and/or what am I blocking? I'm not holding Sir Bees accountable for that frou-frou stuff, but the website itself. Attributing supernatural properties to rocks and minerals always makes me shake my head. Why can't someone just appreciate the rock for its beauty and not imbue it with magic fairies?
  • *picks nose and tosses a buergerite at nunia*
  • Oh, Neal Stephenson. I read one of his books, Snow Crash. While it was good, clever and interesting, I don't know if it was my cup o' tea. The Diamond Age is better, so you say?
  • IC, snowcrash was first conceived as a graphic novel, and reads as such. its fun and clever and action-packed. the diamond age is a more "serious" work, more ambitious in scope and addressing some pretty fascinating "meta" issues about culture, society, technology, education etc,. I cannot recommend it highly enough :)
  • I'll check it out. It sounds right up my alley, and I do need a good book right now. I think if I mention it to my brother, he'll buy it. Then I can borrow it! Oh, the scheming!
  • Why can't someone just appreciate the rock for its beauty and not imbue it with magic fairies? You make the baby earth-mother weep, nunia.
  • Is there something wrong with me that I would never wear anything worth more than $9.99 on my hands? I can't even keep a dollar store watch without wrecking or losing it. I don't want the responsibility for anything.
  • You make the baby earth-mother weep I chop down trees in front of druids, just to watch them cry.
  • > I think if I mention it to my brother, he'll buy it. mention it and another book. tell him other book is slightly better. he'll read that first and you can take the diamond age.
  • Even better! Any suggestions for book two?
  • Interface by Neal Stephenson and J. Frederick George (also published as "by Stephen Bury", their collaboration pseudonym) is a good politics-meets-scifi in the not too distant future yarn.
  • nunia, I have an apple tree I need taken down. If I find a druid, can you help out?
  • Gleenten glooben glouten globen.
  • Lara, I'm always up for a deciduous decapitation!
  • Allllll riggghhht!
  • Interface by Neal Stephenson and J. Frederick George (also published as "by Stephen Bury", their collaboration pseudonym) is a good politics-meets-scifi in the not too distant future yarn Too late! He called my bluff and said, "For a change, why don't you buy these and I'll borrow them off you." /freeloading student
  • Gem-of-a-deal spares Botswana from blood diamonds Employees sift through millions of dollars worth of diamonds with minimum security presence. There are closed-circuit cameras but everyone goes about their business as though they were sifting coffee beans and not precious stones.
  • Sorta Curious George(ina): Where do you go to buy synthetic diamonds online? I've found only a couple of sites, plus very few hits on E-bay, but nothing really good. Suggestions?
  • I'm being lazy and not linking, but there's a DiCaprio movie coming out shortly about Sierra Leone and blood diamonds. It looks interesting. What's up with all these "Hollywood conscience" movies of late?
  • What's up with all these "Hollywood conscience" movies of late? Desperate need for "bad guys" (read: plot) in our "enlightened" age.