#1 Saying No to Blood Diamonds
A vast majority of mined diamonds used in the jewellery industry are blood diamonds. The mining activities are often carried out by low-paid, school-age miners who are subject to atrocious exploitation, physical risks, and inhumane treatment.
“Children do excavation work because they are small enough to be lowered into small, narrow pits …” - NBC News – A diamond’s journey: Grim reality tarnishes glitter
“… people are abused physically and even killed.”Daily Mail Online – Torture, beatings and murder: Inside the new brutal 'blood diamonds'
The Kimberly process started off with a noble objective but is now widely considered a green lipstick. The infiltration by the diamond mafia is real and difficult to stall.
"Unfortunately, the Kimberley Process’s refusal to address the clear links between diamonds, violence and tyranny has rendered it hopelessly ineffectual" - Huffpost - The Sad Truth About the Fight Against Blood Diamonds
#2 Environmental Impact
Mining involves blasting a large area, stripping it of its vegetation and trees, and leaving the land severely degraded and devastated. On average, 250 tons of ore are dug up, processed, and carved for a few diamonds considered good enough to wear.
With regard to lab grown diamonds - on 26th March 2019, the claim to be eco-friendly by lab grown companies was officially challenged by the Federal Trade Commission. The FTC sent letters to lab-grown companies to caution them “against making unsubstantiated assertions about the environmental benefits of their products—its first real enforcement action after updating its jewelry guides last year.”
#3 Inflated Price
Mined diamonds sell at artificially inflated price. Supply is throttled by the diamond cartel to ensure you pay much more than what is determined by normal demand-supply dynamics.
"Diamonds are not actually scarce and make a terrible investment" - Huffpost - Diamonds are bullshit
In 1948, a marketing campaign with the iconic tagline ‘A Diamond is Forever’ was deployed to boost the sales of diamonds which had fallen during the Great Depression. Since then, it has made a substantial and lasting impact on societies and cultures.
“… the agency suggested offering stories and society photographs to selected magazines and newspapers which would reinforce the link between diamonds and romance.” - The Atlantic – How an Ad Campaign Invented the Diamond Engagement Ring
Unlike other precious metals, diamonds depreciate the moment they are sold as the market for them is neither liquid nor are they fungible.
“Most jewellers would prefer not to make a customer an offer that might undercut the widely held notion that diamonds go up in value.” - Business Insider Australia – Diamonds are a sham and it's time we stopped getting engaged with them