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Diamond News Archives

FOMC Projects Even Higher Inflation

Category: News Archives
Created: 17 June 2022
Hits: 1034
Diamond Buyers Club
"The Fed is not even committed to bringing inflation back down to 2 percent very quickly. The median FOMC member currently projects inflation will remain above target through 2024. We had better get used to high inflation. We will likely be dealing with it for years."
...

Read more from our friends at Gold & Silver

Central Bank Tightening This Week Has Fueled Worries Over Global Oil Demand

Category: News Archives
Created: 17 June 2022
Hits: 1022
Diamond Buyers Club
Oil prices poised to break a string of weekly gains as demand worries linger...
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Read more from our friends at Gold & Silver

Record-High 50% of Americans Rate U.S. Moral Values as ‘Poor’: Gallup Poll

Category: News Archives
Created: 16 June 2022
Hits: 1037
Diamond Buyers Club
A record-high 50% of Americans say the state of moral values in the U.S. is poor, while 37% think it is fair and 13% excellent or good.
...

Read more from our friends at Gold & Silver

Global Growth Optimism Lowest Since at Least 1994

Category: News Archives
Created: 16 June 2022
Hits: 1096
Diamond Buyers Club
The following chart, from Bank of America via Top Down Charts’ Callum Thomas, shows that fund managers are the most bearish on global growth that they’ve been since at least 1994 and even more bearish than a couple months ago.
...

Read more from our friends at Gold & Silver

Kimberley Process "Must Suspend Russia and Redefine Conflict Diamonds"

Category: News Archives
Created: 16 June 2022
Hits: 1104
June 16, 22 by John Jeffay
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(IDEX Online) - The Kimberley Process (KP)  must "stop turning blind eye to Russia's invasion of Ukraine and take fight against conflict diamonds seriously". 

The KP Civil Society Coalition (KPCSC), the umbrella organization that oversees its activities, issued a strongly-worded statement on Tuesday, accusing the KP of being "no longer fit for purpose".

An attempt by Western nations to broaden the KP definition of conflict diamonds, to include state actors, has reportedly been thwarted by Russia.

Ukraine, the EU, the US and other member countries drafted an agenda item to include state actors in the definition, according to a Reuters news report.

It was to be debated at a forthcoming KP meeting in Botswana, but was removed after objections from Russia, Belarus, Central African Republic (CAR) and Kyrgyzstan that it was a political move, and beyond the KP's remit.

The KP's current definition of conflict diamonds is "rough diamonds used by rebel movements or their allies to finance conflict aimed at undermining legitimate governments".

KPCSC, the umbrella organization that acts as a KP observer on behalf of civil society, said in its statement: "The Kimberley Process (KP) being unable to even discuss whether it should continue certifying Russian diamonds as conflict-free, proves what the KP Civil Society Coalition

(CSC) has been denouncing for years, namely that the world's conflict diamond scheme is no longer fit for purpose."

It calls on the KP to finally agree on widening the scope of what it calls the KP's outdated conflict diamond definition, and to suspend the Russian Federation as KP participant until it unconditionally ends its aggression against Ukraine.

Botswana's KP chair Jacob Thamage told participants, ahead of the KP meeting that...

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  4. Diamond Miners Oppose New VAT Rules in Lesotho

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