Wise words out of a journalists mouth........

[diagem]

From all the articles I have been reading this one sums it all...

Congrats to Chaim Even-Zohar

" Rough Prices Must Be Allowed To Reach True Market Levels
The current global financial and economic turbulence has apparently triggered an acute loss of memory to some of our industry’s leading players and organizations. It has generated some melancholic calls for a return to the “remedies of the past” – ignoring that certain historical market-management practices are patently illegal today and are not in anyone’s best interest. For instance, De Beers hasn’t yet finished paying the
$300 million anti-trust class action to settle the not-admitted charges of “maintaining artificially higher and non-competitive price levels.” The Sullivan Agreement, which settles all U.S. diamond-related anti-trust charges, clearly mentioned the past price-fixing collusion and production-output arrangements with Alrosa, Rio Tinto, BHP Billiton and other producers, even though the latter were not part of either the court cases or the settlement...."

Read here: http://www.idexonline.com/portal_FullEditorial.asp

 

[diagem]

.....vs. the primitive way of thinking (and in my strong opinion very wrong)

....


"....president of the World Federation of Diamond Bourses (WFDB), said today (Thursday) that he applauds the statement issued by India''s Gems and Jewellery Exports Promotion Council (GJEPC) regarding the need to reduce rough supply to the market during the coming few weeks."


http://www.idexonline.com/portal_FullNews.asp?id=31413

 

[strmrdr]

yea if they aren''t careful they will find themselves in hot water in both the US and EU.
The EU has even more stringent laws then the US in that area and in recent years has been more likely to use them.

 

[diagem]

Date: 10/30/2008 6:02:34 PM
Author: strmrdr
yea if they aren''t careful they will find themselves in hot water in both the US and EU.
The EU has even more stringent laws then the US in that area and in recent years has been more likely to use them.

I noticed Rapaport does not play along with the primitive thinkers..., he too was asked to freeze the publishing of his price list..., and guess what??? He just adjusted the prices lower..., it will be interesting to see the markets reaction to this 180 degree turn

A move NOT welcomed by the market at all....