It is every woman’s dream to have a diamond ring presented to them by their man, at least once in their lifetime. The notion that “diamond is forever” or that “diamond is the symbol of love, beauty, and purity” has long been fed to us from the advertising agencies.
Each year, diamond producers spend millions of dollars in advertising to promote their diamonds. Decades of heavy advertising and “brain-washing” had resulted in heightening diamond’s value in the eyes of consumers.
Today, diamonds are often associated with power, wealth, and status in the society and it is a “must-have” item if you’re planning to propose to your girlfriend. But is diamond really that valuable? Do you know the origin of your diamond ring? Is diamond worth your “investment”? I was clueless and ignorant about diamonds until I watched the movie - Blood Diamond. I did some research online about the issue, and it totally opened my eyes about the diamond industry.
According to Wikipedia, “Blood diamond (also called a converted diamond, conflict diamond, hot diamond or a war diamond) refers to a diamond mined in a war zone and sold, in order to finance an insurgency, invading army’s war efforts, or supporting a warlord’s activity, usually in Africa.”
Although not all diamonds originate from the conflict war zones, at present, the diamond industry and government authorities have yet to commit themselves in having a fully transparent diamond monitoring and standardization process. Even with the Kimberley Process Certification Scheme (KPCS) established, we can still never be sure of the origin of the diamonds sold in our local jewelry stores today.
Monitoring the Kimberley Process
The biggest weakness of the Kimberley Process is how it is monitored. Any country can become a member of the Kimberley Process just by sending a letter to the organization’s president, currently, the European Commission. Whether or not the country meets the standards of the Kimberley Process, it can still become a member.[16] This means that many conflict diamonds are still getting past the Kimberly Certification Scheme because some countries don’t meet the requirements of the Kimberley Process. However, as of 2007, it is estimated that its share in total trade of rough diamond has come down to only USD 10.2 million.
via Wikipedia
Here are 10 reasons why we should resist the “diamond temptation” by Liz Stanton, CPE Staff Economist - The Ultimate Field Guide to the US Economy.
Campaign Against “Blood Diamonds”
Ten Reasons Why You Should Never Accept a Diamond Ring from Anyone, Under Any Circumstances, Even If They Really Want to Give You One
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.”
4. Diamond Miners are Disproportionately Exposed to HIV/AIDS
Many diamond mining camps enforce all-male, no-family rules. Men contract HIV/AIDS from camp sex-workers, while women married to miners have no access to employment, no income outside of their husbands and no bargaining power for negotiating safe sex, and thus are at extremely high risk of contracting HIV.
5. Open-Pit Diamond Mines Pose Environmental Threats
Diamond mines are open pits where salts, heavy minerals, organisms, oil, and chemicals from mining equipment freely leach into ground-water, endangering people in nearby mining camps and villages, as well as downstream plants and animals.
6. Diamond Mine-Owners Violate Indigenous People’s Rights
Diamond mines in Australia, Canada, India and many countries in Africa are situated on lands traditionally associated with indigenous peoples. Many of these communities have been displaced, while others remain, often at great cost to their health, livelihoods and traditional cultures.
7. Slave Laborers Cut and Polish Diamonds
More than one-half of the world’s diamonds are processed in India where many of the cutters and polishers are bonded child laborers. Bonded children work to pay off the debts of their relatives, often unsuccessfully. When they reach adulthood their debt is passed on to their younger siblings or to their own children.
8. Conflict Diamonds Fund Civil Wars in Africa
There is no reliable way to insure that your diamond was not mined or stolen by government or rebel military forces in order to finance civil conflict. Conflict diamonds are traded either for guns or for cash to pay and feed soldiers.
9. Diamond Wars are Fought Using Child Warriors
Many diamond producing governments and rebel forces use children as soldiers, laborers in military camps, and sex slaves. Child soldiers are given drugs to overcome their fear and reluctance to participate in atrocities.
10. Small Arms Trade is Intimately Related to Diamond Smuggling
Illicit diamonds inflame the clandestine trade of small arms. There are 500 billion small arms in the world today which are used to kill 500,000 people annually, the vast majority of whom are non-combatants.
It is not just simply a case of eliminating CONFLICT DIAMONDS ie diamonds produced and sold to finance armed conflicts and gross violations of human rights. We also need to look at what is happening in those non-conflict zones, in the mining of diamonds and human rights violations for the workers in the mines.
Quote from one of the commentators of the movie, “Check out Blood Diamond, your bling may never look the same again”. Very much indeed!
Further readings:
Combating Conflict Diamonds
De Beers Sees Threat of Blood Diamonds
The Jewels in September Elle Come at an Extremely High Price
De Beers Pleads Guilty in Price Fixing Case
History of Single Life: Diamond Engagement Rings
Namibia: Exposing The Corrupt Practices Of The De Beers Diamond Cartel
Why De Beers Wants You ‘Blood Diamond’-Savvy
