someoneyouknow
Literotica Guru
- Joined
- Jun 5, 2006
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Years ago 60 Minutes did a story on the diamond industry.
They were in Russia and shown just one of numerous storage facilities. This one room was roughly 15' square and along three of the walls were shelves stacked with bags of uncut diamonds.
Though DeBeers no longer had its monopoly, diamond producers still collude to keep diamond prices high through withholding of supply. If the majority of diamonds mined were put on the market the price of a ring would be a few dollars. Diamonds are relatively plentiful so it is only because of the collusion that their prices are high.
They were in Russia and shown just one of numerous storage facilities. This one room was roughly 15' square and along three of the walls were shelves stacked with bags of uncut diamonds.
Though DeBeers no longer had its monopoly, diamond producers still collude to keep diamond prices high through withholding of supply. If the majority of diamonds mined were put on the market the price of a ring would be a few dollars. Diamonds are relatively plentiful so it is only because of the collusion that their prices are high.