James: I’ll give you an example. Which actually I just wrote up in a recent piece of mine. Which is the De Boer’s company. The De Boer’s company was, I think it liquidated in 2011, in 1880 I believe, they formed the De Boer’s company who were the exclusive mining company inside of South Africa.
Now, why they formed a company, and this was a coalition of all of the diamond mining companies at the time, the reason that they did this was because diamonds were becoming pleantiful in the market. What ended up happening is that the supply was outweighing the demand. So diamonds suddenly because very very cheap leaving a lot of companies die off because they simply couldn’t afford the low prices of diamonds at that point.
So the De Boer’s company came together as a coalition of all of the remaining diamond mining companies, and then what they did is they put in an artificial supply into the market so they controlled supply of the market, therefore creating an artificial price, heightening the price of diamonds because they artificially made them seem more rare and scarce which therefore made the prices higher.
Then in 1938 the De Boer’s company wanted to sell more diamonds, so what did they do? They hired the NW Ayers company, which was a marketing agency, who created an advertising campaign called ‘Diamonds are Forever’, I think that was actually the name funnily enough. And it essentially turned the diamond into the essential wedding ring.
The reason that you propose to your future wife or husband with a diamond is because of the De Boer’s company. Diamonds are not valuable and they were not the diamond of love before 1938. Before the advertising company told you that the diamond was the stone of love and was the stone of scarcity and high value. The company told you this. And this is the reality and the myth that you now live in. Companies employ psychologists for more money than you or I could ever imagine to make in a lifetime in order to manipulate us to do things that they want us to do.
I would highly recommend that you watch the movie ‘The Social Dilemma’, is that what it’s called Totsky?
James: Yeah ‘The Social Dilemma’, because its really good. I highly recommend it.
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