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Wednesday, April 8, 2009

Recession calls for better prices?

I received this advertisement in my email recently:

Screaming big words... up to 70% discount!

Actually I find such tactics pretty unscrupulous, because diamond prices are still inevitable controlled by De Beers. De Beers has proved to be the most successful cartel arrangement in the annals of modern commerce. While other commodities, such as gold, silver, copper, rubber, and grains, fluctuated wildly in response to economic conditions, diamonds have continued, with few exceptions, to advance upward in price every year since the Depression.

The diamond invention is far more than a monopoly for fixing diamond prices; it is a mechanism for converting tiny crystals of carbon into universally recognized tokens of wealth, power, and romance.

So next time you walk past a store with signs saying huge discounts on diamonds.. do think again!

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