How effective is the Kimberly process?

[TRIALnERROR]

How effective is the Kimberly process at certifying conflict-free diamonds? If the Government Diamond Office in Sierra Leone can't decipher between a CZ and a genuine diamond, why is so much faith put into the process?

http://www.youtube.com/watch?v=NnM9idW52xE

 

[Karl_K]

If it was cz and easy to spot why did his buddy that he trusts to grade rough and oversee a sale buy it for $12.5k?
Something stinks about this story.

 

[denverappraiser]

Interesting story. Kimberley is intended is to prevent the trafficking in diamonds mined by a certain category of bad guys and to encourage tax collection efforts by the local authorities. It worked just fine here. It most definitely is not a ‘conflict diamond’, although the taxman in Gunea is accused of being either stupid, corrupt or both. Maybe crazy like a fox? Kimberley is struggling with the scope of their mission and they may indeed be obsolete but at even the most extreme vision of their purpose this is way outside their purview.

I’m a little surprised to hear a professional diamond buyer being suckered by this but I suppose everybody makes mistakes and we know very little about what really happened. Betcha this particular guy doesn’t make that particular mistake again.