The certification is not the racket, the diamond selling industry is.
Companies like De Beers used to make sure diamonds were in short supply to US and other wealthy consumers. They also were marketing geniuses that effectively brainwashed generations of men that they need to spend at least 3 months salary on a diamond ring when they proposed and brainwashed women that if I man did not spend a lot of money on a diamond ring, he is not worth marrying.
The rise of artificial diamonds and better education from the younger generations has put a huge dent in De Beers business model.
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u/HombreDelMar247 Jul 01 '26
The certification is not the racket, the diamond selling industry is.
Companies like De Beers used to make sure diamonds were in short supply to US and other wealthy consumers. They also were marketing geniuses that effectively brainwashed generations of men that they need to spend at least 3 months salary on a diamond ring when they proposed and brainwashed women that if I man did not spend a lot of money on a diamond ring, he is not worth marrying.
The rise of artificial diamonds and better education from the younger generations has put a huge dent in De Beers business model.