The Real Blood Diamond - The Ruby

Do you actually think the diamond is the only stone that is used to make a profit for a few people while forcing more people to slave away mining it? Let me introduce to you the Ruby. Quite possibly the bloodiest colored gemstone on the face of the Earth.

As of today, Monday September 30th 2008, the "Tom Lantos Block Burmese JADE (Junta's Anti-Democratic Efforts) Act of 2008" or also known as "Tom Lantos Block Burmese JADE Act of 2008" ban takes effect. Unfortunately these red gems from Myanmar (formerly known as Burma) that entered the country before the ban can still be bought and/or sold in the United States. As long as supplies last and then after that... no more rubies.

The act also bans gems that originate in Myanmar but are processed, treated or manufactured into jewelry in third-party countries such as Thailand.

United States lawmakers passed the JADE Act to encourage democratic reforms in Myanmar instead of the ruling military junta. The junta regime has a long history of human rights violations. After the junta's violent crackdown against the Buddhist monks in 2007, news headlines blamed that "blood rubies" sold were funding the regime.

Rubies are also mined from other countries including Madagascar, Tajikistan, Tanzania, Thailand and, recently, even Greenland but rubies from Myanmar are better quality and better color.

What does this all mean to the consumer? Less Myanmar rubies means higher prices. Less Myanmar rubies means the chances of your jeweler replacing a damaged or lost ruby in your existing jewelry will unlikely happen. Companies like Tiffany and Cartier have been having this issue for 1 year already and it is expected to get worse.

[source National Jeweler Network]