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The Truth About Diamonds Are diamonds truly forever? De Beers is an extremely big monopoly with an extremely tight grasp on the supply of diamonds. Why everyone knows that diamonds are a symbol of true eternal love! A diamond is forever! Maybe you’ve even bought a diamond for someone once! Diamonds are one of the biggest scams ever perpetrated on the American public. They’re incredibly common, if there were a real free market for diamonds, they would be worth a few dollars each. But virtually every diamond in the world is sold by one company- De Beers. It’s not just a monopoly; it’s the monopoly to end all monopolies. Because they control just about every diamond mine in the world, they keep production very low, helping to keep prices very high. That’s part of why diamonds are so expensive. Now, what about the symbols of love and affection? Congratulations, you’ve been suckered. In 1938, De Beers h