The Diamond Industry Is A Total Sham

I am reading a book called 'Everything Is bullshite' and it is about certain things that have become part of our culture that is actually a load of shite and the whole buying a diamond ring that should cost 2 months salary was created to create diamond sales.

In 1938 a diamond company hired an advertising company and they came up with away to increase the sale of diamonds which the royal family invested in and helped to drive the price up by wearing and showcasing them. They made connections with magazines and movie producers who started putting them on models and movie stars.

Part of their marketing goal was to associate the size of a diamond with how much a guy loves his girl.. So the bigger the diamond, the more he loves her and even the whole 2 months salary thing was part of the marketing plan.

And once a diamond is sold retail, as soon as it is sold the price of the diamond depreciates

And diamonds are not as rare as people think. In the late 1800s a lot of people were mining diamonds which made their value go down. Some dude ended up buying all the mines so he could control the market

Just a FYI for those of you young bucks out there thinking about buying a ring, don't spend a bunch of money on that shite.