posted on Mar, 26 2011 @ 07:24 PM
Originally posted by dwmjr1985
reply to post by projectvxn
It's helped but it also very much ignored. If people simply stopped buying diamonds and any other product de beers produces then they wouldn't
exists. Well unless they get a government bailout that is.
Personally, and from an investment standpoint, I think diamonds are worthless outside of industrial and technological applications.
We do need diamonds for research and to apply to technology. But the main market is in jewelry. I used to be a gem trader, and never EVER dealt with
diamonds. One good mine an the price will sink like a...well, like a stone..
The problem with that is if there's a demand for the product someone needs to provide it. And that's fine. Governments, however, need to be sure that
standards and practices apply to all of their operations. Why, for instance, do we not hold our companies accountable for abuses overseas? If we
wouldn't allow them to poison drinking water here, why do we allow it there?
I'm am a staunch free marketeer. But I understand that if you create the atmosphere for lawlessness you shouldn't be surprised if what you get is
lawlessness. Cecil Rhodes(The man behind De Beers) was also very cozy with the British and African political class(Not just in South Africa). That
coziness and lack of accountability is what created the De Beers(diamonds from Satan) debacle.
It easier for the political class to blame the corporation for all the worlds ills. But at the end of the day it is the political class that
facilitates and in many cases outright creates the ills of the worlds with a corporate face to take the fall.
Regulation should enforce the following:
To prevent fraud and out right theft.
To protect property rights (This includes pollution)
To protect the individual natural (god given)rights of all parties involved.
To enforce contracts.
edit on 26-3-2011 by projectvxn because: (no reason given)
edit on 26-3-2011 by projectvxn because: (no