Letters

WHERE TO GET YOUR DIAMONDS: DE BEERS OR THE RUSSIANS? I recently read an article in the Rapaport Diamond Report entitled "Leading Dealers Lose Patience with the Russians." Well, we complain about the Russians and blame them for everything, but there is nothing more away from the truth than this headline. The diamond industry is going through the greatest revolution since the inception of the De Beers' monopoly. There is an old saying, "Just when you've won the rat race, along comes a faster rat." Up to now, De Beers thought it had a monopoly for eternity. But not any more. The fact is the power of De Beers is slipping rapidly and the power of the Russians is gaining rapidly. De Beers has nobody to blame but itself; it dug its own grave. In the old days of Harry Oppenheimer, De Beers ran the organization the smart way. It spread out its business to 350 client-firms [sightholders] so
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