diamond jewelry scam
this video I realized...
Diamonds are WORTHLESS!
And They're NOT RARE!"
1st: Diamonds were rare but had little demand
2nd: In the late 19th century Debeers discovered billions and billions of them in South Africa and they were no longer rare.
3rd: Debeers realized this would ruin the value so they created a monopoly
4th: They spent billions of dollars on advertising to create demand
5th: They spent money in Hollywood so celebrities will reinforce the demand
6th: Debeers even made there way into the school system with FAKE history lessons
7th: The demand for diamonds was created and in 1980 80% of engagement rings had them (when they were non existent before that)