The Diamond Empire

The Diamond Empire

1994, Economics  -   32 Comments
Ratings: 9.14/10 from 147 users.

What we think about diamonds, is in fact, a myth. At the center of that myth is an illusion, that diamonds are valuable because they are rare. When writer Edward Epstein set out to investigate the diamond trade, he discovered that diamonds aren't rare at all. Second only to Christmas, Valentine's Day is the holiday when diamonds are most often given as the ultimate token of love. Central to the diamond's role as a romantic symbol is the belief that diamonds are one of the rarest, most precious gifts for a loved one. But it's only a myth--diamonds are found in plentiful supply.

FRONTLINE examines how the great myth about the scarcity of diamonds and their inflated value was created and maintained over the decades by the diamond cartel. This report chronicles how one family, the Oppenheimers of South Africa, gained control of the supply, marketing, and pricing of the world's diamonds. (Excerpt from

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3 years ago

Nice video...looks like someone set up an old video camera in front of the TV. Buzzing noise on audio playback too distracting. Another TDF flop....

5 years ago

@Truffi: I see your propagandists have you. Even Malcolm X and Martin Luther King Jr. realized later on that skin color doesn't matter when it comes to the evil or advantage takers. If you want to improve the world, ALL the good folks have to be included and ALL the bad folks have to be contained, until they realize good is better than bad.

It is the propagandists that desire for you to think as you do; to keep us fighting among our selves while the evil elite of all colors and levels get away with what they do.

Regarding Capitalism and free market competition: Corporatism is NOT Capitalism. Corporations were a weasel attorney evolution of making a legal fictional wall evil people can hide behind. Nor is Corruption capitalism. True Capitalism is merely the ability to freely trade among ourselves without the interference of anyone, especially govt.

Socialism-Communism-Progressive or Collectivism is inherently Corrupt because it FORCES inherently corrupt people in between my trading with you. Under central planning I cannot compete with their friends. All the silly rules and regulations are designed to drive the small biz out of biz. That is why the major corporations favor socialism and pay to propagandize as many as they can towards socialism-communism.

If you think capitalism is so bad, why not talk to those who escaped socialism and communism to find opportunity with capitalism? If you don't like capitalism, MOVE to where those people came from. You are free to go. Please go. It is the incremental socialism-communism that IS the root cause behind the corruption and the problems in govt.

The old Standard Oil was not a "free market" problem. Govt is the only entity which Rockefeller could buy to allow all that to happen. Rockefeller funded the anti Alcohol ladies group to get alcohol banned by congress or he never would have gained such a foothold. How did the alcohol ban pass congress? The same way so many things do: Bribes and/or campaign funding. Corruption is the fault of the voter not seeing to it the right people are in place. Expecting someone else to do that for you gets you what you got. However, we CAN vote them out. In a Socialist or Communist or other Collective system, they are so power hungry, they cannot bear to lose power and will not allow a capitalist to run and get rid of them. We are seeing this play out now with Trump vs. the Progressives of both parties. Clearly they don't care about the law, right or wrong, just their power.

If you need any govt to keep you in line and fearful of getting in trouble for doing wrong things, then you are the problem. Just how many would take advantage of others if there were no consequences? We see what the barbarian old world muslims do when the police are told to do nothing. Rape and pillage and consider themselves justified. Yet they would consider it death worthy if I did it to their family. Brilliant propagandized mentality that one is. We see what the African warlords do to their own. We see what the western elites do to their own. Except they don't consider the non elites "their own". They consider you as cattle or sheep. Until you put them in a cage, you will be in their target sights. Not just the white elites, the upper level minions such as Obama have the same mentality while committing many a crime towards us and of course while telling you they care. And you believe it is the sad part.

Here is a suggestion to all those who complain about a company they work for or know of: Start your own. Much easier to point fingers at others than at the mirror. Unions have been doing it for many decades; when they could have joined forces and competed. No they found it easier and less risky to shout, destroy, hurt, and corrupt.

The comments have bogus excuses. Only 3 companies rule the food markets... The owner's son does nothing and gets paid a lot, ...blah blah blah. Yet no doubt they still use the stores which use those 3 companies. Guaranteed there are independent stores which don't. For that matter I can buy anything I need direct from those who grow it fresher and better than the commercial crap. And if you had a company and a son what exactly would you do? Kick your son to the gutter and pay some snot you don't care about a lot just because he thinks he is worth a lot even though he can be replaced tomorrow? That is the point of the free market, if you can do it better, why don't you?

If you think diamonds are a scam, which I always did since you can't eat them, then DON'T BUY THEM! I have never purchased one unless a saw blade had some industrial diamond. When no one buys, the price will drop. If the woman you choose requires a diamond, maybe you ought to look for a different woman. Maybe one that understands reality better.

Know I will get the shaft for this truth: You can show this docu to a number of women and plenty would still want a diamond on their ring. That is the power of propaganda and selfishness. And for some reason animals like shiny stuff. Fish get drawn to lures, bugs to light, however, people have a choice if they stopped long enough to consider such choices.

6 years ago

White people are criminal and have built a system to control every resource in the world

7 years ago

Rediculous Comment. Sold Their Own Into Slavery, Cutting The Arms Off Of Opposing Tribes Peoples, Forcing Children To Murder Their Parents To Join A "Freedom Fight s".
I Agree That Mining On That Whole Continent Is Done Without Thought For The People Of It, But To Paint A Whole Continent As Full Of Saints Is Bs. Also I'mSure Someone In there Is Making Bank.

10 years ago


10 years ago

Only a devil would profit from the suffering and death of Africans, who have wronged nobody in the history of man, since the beginning of time.

10 years ago

the jews are at it as usual

Prabhu Ram
11 years ago

simply amazed by the effort - rich world is all together !

Al Candelaria
11 years ago

Unbelievable BS. The footage shown here is old the statistics don't match. Total fiction.

12 years ago

keep in mind the monopoly was broken up around 2000...

12 years ago

Who directed this?

12 years ago

Monopoly is always the goal for any business, De Beers isnt the only monopoly in the world sadly.

If there were no restrictions we would all have abundant food and resources.

Instead what happens is that we are taxed a large part of our incomes in order that we can continually feed the machine.

13 years ago

Oh man, it seems like every company is corrupt these days. This deBeers stuff is shameful

Phil Atio
13 years ago

Well the most obvious way to get in on the diamond racket is to go to a war torn country like liberia or congo where de beers doesn't control every mine. The problem is the new kimberely process makes it very difficult and legally impossible to transport any diamond that does not come from a country where de beers already controls all of the mines (canada, usa, south africa, most of europe, and southern africa).

13 years ago

the faggot oppenhimers assisted the Germans and hittler with the world war 2. the should b arrested for war crimes.

13 years ago

ask ur parents

Not Rocket Science
13 years ago

$5000 worth of diamonds cost them what? 50 bucks? The Oppenheimer family understands that there is a sucker born every second. How do I get in on this racket?