Why Diamonds Really Aren't Your Best Friend
March 03, 2007
Diamonds aren't rare, have no resale value, and will soon be replaced by cheap, better-quality synthetics.
If those are not reason enough to avoid them, diamonds are frequently used by rebel groups to fund conflicts and civil wars, and by terrorist groups to finance their activities.
And the Kimberley Process, an agreement under which diamond companies are supposed to self-police themselves to prevent these "conflict" diamonds from entering the market, is little more than a PR stunt.
An internal review in Brazil showed that one-third of Kimberley Process certificates are fraudulent.
The diamond industry also often hurts children, such as the children in India who are forced to work to pay off the debts of their family, and the children in diamond-funded conflict zones being used as soldiers.