Carmel Crimmins writes about international outrage over the Burmese generals' brutal crackdown on pro-democracy rallies + possible trade ban by the European Union on Myanmar's gemstones, a leading export earner in the impoverished country.
If it works, it's going to be conflict rubies. If the trade sanctions work (I wish them good luck) then ruby prices will definitely go up + there will be behind the scene deals without disclosure. There are people who are addicted to rubies and they may not care so much about human rights abuses in Burma. They have deep pockets, a big safe + no memory. But if the consumers really care for the Burmese people, and if they stop buying rubies it's going to be Catch-22. There will be job losses, many traders who specialize in Burmese rubies may go out of business +++++. What are the alternatives? There are a few ruby producing mines scattered around the world but the productions are sporadic + qualites vary + they may not be suitable for treatment (s) in order to enhance the color / clarity. The issue is will it work. We don't have the same compliance mechanism like the diamond industry. The colored gemstone industry is fracture-filled with special interest (s) groups. They have one story for the world and media and another for the trade. Let's watch and wait.
More info @ http://www.reuters.com/article/topNews/idUSMAN5177620071004?sp=true
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