Is the Diamond Industry a Scam and how does it affect Africa?
- Thread starter Truth200
- Start date
it's a sad situation seeing ppl being taken for their hard earned money...@ 1min
but i watched it going on for long enough and
i get mine now too 
yeah?but i watched it going on for long enough and
Diamonds are not an issue for the majority of African countries, it could be argued that without the price manipulation they would even be more worthless for the countries that mine them. The countries that exploit diamonds in reasonable quantities are SA,Angola,Botswana,Namibia,Zimbabwe,Sierra Leone and among these countries Sierra Leone and Angola were affected by the financing of civil wars through the diamond trade and the others did not have that issue. Botswana was inspired by the Norwegian model and uses a state entity to control exploration and actual mining in a 50-50 with DeBeers. SA is industrialized to an extent that they don't rely on diamonds and there is also the fact that they have been mined from the time of Cecil Rhodes, Oppeinheimer and Barnato buying up claims. Savimbi controlled the diamonds in Angola but since they can probably make more money in a month from oil than they would from diamonds the Government seems not to concentrate much on them. I could go on for every country but outside of the Sierra Leone/Liberia problem in the late 90s and early 2000s they are not as problematic.
http://londonprogressivejournal.com...e-jewellery-industry-is-deafening-and-telling
"Diamond exports add over $10 billion net to the Israeli economy each year. This foreign currency is essential in order to maintain the political stability needed to further entrench the occupation of Palestine, bankroll Zionist hegemony and bludgeon Palestinians who dare to resist.
While the US contributes $3 billion in military aid, the Israeli economy generates the additional$17 billion needed each year to fund the military. Without revenue from the diamond industry Israel would be forced to cut military spending and raise taxes, as happened in 2013 following a 22% drop in diamond exports the previous year when a fraud investigation caused exports to collapse."
"Diamond exports add over $10 billion net to the Israeli economy each year. This foreign currency is essential in order to maintain the political stability needed to further entrench the occupation of Palestine, bankroll Zionist hegemony and bludgeon Palestinians who dare to resist.
While the US contributes $3 billion in military aid, the Israeli economy generates the additional$17 billion needed each year to fund the military. Without revenue from the diamond industry Israel would be forced to cut military spending and raise taxes, as happened in 2013 following a 22% drop in diamond exports the previous year when a fraud investigation caused exports to collapse."
Explain that to the consumers.