Dude this is so fascinating. I knew the diamond market was heavily controlled but the fact that the preciousness and prestige of diamonds was basically a marketing move is crazy! Keep up the great work.
Thank you so much. Researching this was fascinating as well, especially when you realise that something so important in today's culture was simply invented by an advertising agency. Thanks for the comment. I enjoy your videos as well.
Cogito Especially how recent it was they became that symbol of love. It's really one of those things you just presume that diamonds have always had that image. I'm glad you enjoy my stuff, I've subbed to your channel too. Looking forward to seeing what you have next.
You're not alone. I learned about diamonds when I was young and I still don't own diamonds even as an adult in her mid-30s. I plan to continue boycotting them.
I remember many years ago a show called 20/20 in the US talked about this topic. They focused more on the treatment of the miners than they did on the marketing if I remember correctly. But at the very end they said that a lot of the world's diamonds were owned by De Beers and they were purposely being held off the market in order to inflate prices. To this day, I still don't own any diamonds and I wouldn't want one. Not even as an engagement ring. The money would be put to better use such as paying bills, saving up for a place, charity, etc.
I understood everything you said perfectly. My dad speaks the same way extremely fast . Almost all content I watch on I have to speed up . It usually takes to long .. great job ... and great information. For anyone who says it’s too fast RU-vid gives you the options to set the speed .
Really great video! You might want to look into audio mixing. Your voice is a bit hard to hear over the music. The quality itself is fine but if you EQ it properly it could sound that much better.
So monopolies, this is also why gas was so expensive, OPEC controlled the entire supply and just like De Beers set the price however now that the US is back mining oil it's dropped like crazy.
And now you know! But you still can't escape the clutches of culture and you'll probably still buy an extremely expensive, useless rock to proclaim your love! Mwahaha!
a person get into certain business when he knows he can make good profit, then why destroy the market with low prices if you can make good profit by selling high as people are paying for it.
The painful thing is I knew this and yet, there's nothing you can do about it. Present anything else for an engagement and at least a little peice of her will be disappointed.
Very bad analogy….you can make millions off of your iphone in many ways…(depending on when you sell) you can sell your iphone and only lose about 30% of your money, with diamonds you lose 60-80% if you decide to sell the next day to the jeweler you bought it from.
Haha, good one. The only true store of value is goods and services. If the market fell apart or there was some apocalyptic event, nobody would care about some useless hunks of shiny "garbage" as gold and silver are actually quite useless where tools are concerned. If gold and silver had inherent value, we wouldn't have been able to replace it with paper and/or cotton.
Silver is widely used in the manufacturing industry over half the annual supply. The annual supply of silver is about 8x more than golds. Gold only uses about 1/8 of it's annual supply on manufacturing the rest is stored in vaults in ingot form to keep the illusion of rarity for the price they ask. In the advent of an apocalypse both would be pretty pointless true, compared to basic needs items. And obviously things such as drugs ( from coffee to alcohol and morphine) would command premiums along with petrol products and weaponry. But as a long term hedge investment in the 99.99999999% chance that things remain peaceful and non-apocalyptic silver is by far the best. I can't tell you how many people I knew that lost their ass when gold was around 2k USD. I told them it's a bubble for a material that's vastly overpriced compared to it's supply and demand. The only other two items I can think of marked up more insanely are razor blade heads and natural diamonds.
