Business Wars Diamond Wars | The Shadow World | 4
Jul 6, 2020
In the 1950s, De Beers grapples with a surge in diamond smuggling from West Africa, seeking to protect its monopoly. Meanwhile, a new threat arises in the Soviet Union, complicating the diamond trade landscape. The podcast also reflects on the tragic Sharpeville massacre, a pivotal moment in South Africa's history, impacting the diamond industry's international relations. Additionally, it delves into how 1960s Japan embraces diamond rings as symbols of love, marking a significant cultural shift and raising ethical concerns surrounding diamond mining.
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From MI5 to Candyman
- Sir Percy Sillitoe, former MI5 chief, transitions to a candy shop owner after retirement.
- He is approached by De Beers to tackle diamond smuggling, a problem costing them millions.
Soviet Involvement
- De Beers believes the Soviet Union is behind the diamond smuggling.
- They need industrial diamonds for military development, resorting to the black market due to Western sanctions.
The Sting
- Willie Rosen, a diamond merchant, helps De Beers expose smugglers in exchange for a British passport.
- During a diamond deal, a police raid leads to Finkel, the smuggler, jumping out a window and getting arrested.