Word: middlemen
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Dates: during 1970-1979
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...Angola has not recovered from a civil war that ended in 1976. More important, speculators round the world have concluded that diamonds are a good hedge against inflation, currency weakness and political uncertainty. In the diamond centers of Antwerp, New York City, Bombay and especially Tel Aviv, industry middlemen have been paying price premiums up to 100% to buy and hoard uncut stones. Banks have been buying diamonds for customers' portfolios, instead of stocks. "Some people have bought kilos' worth of diamonds," says Antwerp Diamond Cutter Sylvain Zucker. Disgusted by the speculation, New York's Tiffany...
...largest boost in prices comes from the middlemen: the processors and distributors. Aggressive advertising and sales drives add dollars to the bill at the checkout counter. The rising costs of transportation and energy are another source of food inflation. Last year $16 billion was spent just to package food. It is not so much the cost of food itself that is driving prices up, but the consumers' apparently insatiable demand for convenience and variety-and the food companies' zeal to satisfy those appetites...
...million pieces of fine jewelry and sculpture. TIME'S David Lawton followed the smugglers' jade trail from Bangkok across the Thai border into the Terry and the Pirates country of southern Burma, where the rebel Karenni tribe holds sway as one of the principal groups of jade middlemen. His report...
...home-insulation buyers must wait four to six weeks for one of their city's most famous products. Demand is so great that the three biggest producers-Owens-Corning Fiberglas Corp., Johns-Manville Corp. and Certain-Teed Corp.-are allocating deliveries to wholesalers, building-supply companies and other middlemen. In some cases buyers can get only as much as they bought last year...
...press conference, Keating spoke of nameless middlemen who turned up at his cottage to buy fakes for ten or 20 pounds, which, signed, turned up in galleries with fancy provenances. "Did you know it is an art trade practice to sign paintings?" he charged. "There must be someone who goes round the galleries once a month called Jim the Penman...