Buy custom Sierra Leone: Greed, Diamonds, And The Global Marketplace
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| Topic: |
History
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| Number of pages / Number of words: |
8 / 2177 |
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Cecil instituted an aggressive buyout policy, aimed at removing all competition from the market.
By 1888 Rhodes controlled 90 percent of worldwide diamond production, a figure that has only shrunk in the last few years. Instead of selling all the diamonds produced every year, De Beers began stockpiling rough in order to keep them off the market, resulting in artificially low supply, and drastically inflated prices...
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Instead of selling all the diamonds produced every year, De Beers began stockpiling rough in order to keep them off the market, resulting in artificially low supply, and drastically inflated prices. De Beers was only able to maintain its control over the market by ravenously buying up all the rough it could find...
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cecil rhodes
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