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businessMar 23, 202610:15

I Don't Trust Any Jewelers" Here's Why

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In this thought-provoking clip from "Black Out with Ian & Rashad," Rashad Bilal, Ian Dunlap, dissect the long-held beliefs around diamonds, wealth, and traditions. The conversation kicks off with Rashad Bilal questioning the true value—and marketing scam—behind diamonds, revealing how their perceived worth was crafted through strategic advertising and artificial scarcity over the past century. Ian Dunlap then expands on the idea, pointing out how diamond prices have plummeted in the past decade and highlighting how the story of diamonds as a "girl's best friend" is more marketing myth than real value. Dive deeper as Rashad Bilal uncovers the historical context—that diamonds were never particularly valuable compared to gold or other resources until recent marketing campaigns transformed them into symbolic tokens for engagements and weddings. The conversation takes an engaging turn with a humorous and insightful cultural exchange clip featuring Speed’s visit to an African village. Speed learns firsthand about dowry traditions—where cows, not diamonds, hold significant value in marriage negotiations. Led by African Father and Guide, Speed discovers the negotiation process for a dowry and its deep cultural relevance. The panel unpacks the broader message: value is always contextual. What might seem strange—like paying dowries in cows—holds immense significance and utility in different environments, just as water can be more precious than gold in the desert. Rashad Bilal and Ian Dunlap break down misconceptions around tradition, highlighting the respect and negotiations involved in these customs, including the consent of the bride and the vital role of family discussions. They challenge the audience to rethink how and why society assigns value—to diamonds, cows, and beyond. Prepare to be entertained and educated as the hosts and guests blend humor, real-world economics, cultural education, and personal insights. Whether it’s the artificial diamond market, the reality of dowry negotiations, or the nature of true wealth—this clip will give you plenty to think about. *Key topics covered:*

  • The marketing myth behind diamond value
  • The history of gold vs. diamond as currency
  • Dowry negotiations and tradition in African cultures
  • What defines real wealth and value
  • The cultural relativity of money, livestock, and luxury
  • Insights into global wedding customs

Don’t miss this unique blend of cultural commentary and sharp financial wisdom! *#Diamonds #Dowry #BlackOutPodcast #CulturalTraditions #Wealth #RashadBilal #IanDunlap #Speed #AfricanFather #Guide #MarriageCustoms #DiamondMyth #FinancialEducation #AfricanCulture #WeddingTraditions*

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I Don't Trust Any Jewelers" Here's Why

Earn Your Leisure

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10:15

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Earn Your LeisureI Don't Trust Any Jewelers" Here's Why. Machine-transcribed; use the interactive transcript above to jump the player to any line.

This is an iHeart podcast, Guaranteed Human. We believe in starting with your financial goals, not a formula. At Oppenheimer, we put the full strength of our long-standing expertise to work, understanding your life and your ambitions, and designing the precise strategies that build and protect your wealth with confidence across this generation and the next. Put the power of Oppenheimer thinking to work for you. Wealth Management, Capital Markets, Investment Banking. Wasabi is purpose-built to free your business from skyrocketing storage costs and fees from the big guys. Wasabi is the go-to provider for professional and collegiate sports teams around the world. Check out Wasabi's AI-enabled intelligent media storage, Wasabi Air, and the industry's only cloud storage service with triple protection against cyber criminals. Wasabi, driving innovation and data storage for up to 80% less than market competition. Try for free at wasabi.com. Wasabi Hot Cloud Storage, proud partner of iHeart podcast network.

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of a certain value. A hundred percent. There's about a hundred, there's a hundred element that's more valuable than diamonds. Diamonds are not rare at all. They were never valuable throughout human history. They just became valuable in the 20th century. Yeah, last hundred years. Marketing and they hoard the diamonds to make them, to make them rare. Yes, artificial market. That goes back to the whole marketing of America with, yes. Diamonds are our girls best friend, but also engagement, this whole engagement wedding industry. Oh, that's uh, you all want to talk about the Somali daycare. That's the real scam. That was diamonds are not valuable. Like gold has always been valuable since since 5,000, 10,000 years ago, people have been trading gold. People were never trading diamonds. People never thought diamonds were valuable until a European came to Africa and had a brilliant idea to shut the whole resources down and

hoard all of the diamonds and then tranquil it out and then put a major marketing campaign in Hollywood and tell Americans that when you get engaged to somebody, you have to put a diamond ring on their finger and tell them that diamonds are our girls best friend, Tiffany's and all of this marketing and now now diamonds are so valuable, but diamonds are not worth anything in the history of mankind. This is a blimp when diamonds are actually valuable. Absolutely. But, do you want to look good to shine and all that, but like you said, if you ever go in the harsh times and need to resell it, you're not going to do anything for it. No, not at all. But do you want well speaking of diamonds, let's show this clip from speed as far as not that clip, the two clips with diamonds. Well, we can show both actually, but there's one clip when he went to the village and he was brought to the 17 cows. Let's show this clip, shall we?

Some cows. Yeah. So, proposes and do I come with your family then when he cojiates? He has to agree first. Wait, she has to ask from her first, if she agrees, then you can come to the father and then you can negotiate. How many cows you can pay, so that she becomes your wife. How many cows will I have to give you, so I can marry her? 17. 17 cows? Yes. 17 cows. How much is 17 cows? So 5 cows, I'm close to 5,000, 7,000 in Malame, oh, I'm only two in Malay. So 5 cows, 17,000. So 5 cows, 17,000. $250. $250. $250. $250. $250. $250? Yeah. $20. Or 5 friends. 20, wait, 20 cows, 4 friends. 5 friends. $4,000. So, you want one wife? One, two wives. Or three wives. 15K, you get three. Oh, I want, I want 10.

I want 10, why? I'm going to do we have one, two, you can only have six today. Six? You can only have six today. Yo, Chetis is crazy, bro. Chetis is insane. What the hell? This is crazy. 25K, six wives. I'm going to be in contact with some cows, okay? You all welcome. All right. Shout out to speedy person. Shout out to speedy. I like him. Yeah, he's doing a great job. So, they thought that this was a joke, like I said, we went to Kenya and they educated us that it was 10 cows. That was the dowry in Kenya. But I guess Estonia, I think he's in Estonia, Kingdom of Estonia. It's a small kingdom. You ever seen the guy or so he's the king. You probably seen this video on Instagram when he came to our Abu Dhabi with 21 wives. Yep. That's that's where he's at right now. So, the head of the village, I guess that was his daughter. And the dowry. So, dowry is the offering that you give to the family before you can marry.

17 cows. Now, here's some some vitally important things to listen. So, at first, it was like, you ask her, she has to agree to it. So, it's not like, oh, she has no record. I saw that in the comments. That's so sad. She has no rights. They literally said, you have to go to her. First, she has to agree to it. And then, it's something else key that the head of the village, he was like, okay, bring your families and we'll negotiate the dowry. And then, you know, 17 cows. You think he overpaying with the 17? He's like a cow index. I think I could get him with the premium. He hit him with the premium. That's what's happening. Before negotiation. That's before negotiation. Start high and work your way down. Work your way down. But I think, all jokes aside though, right? This goes back to what I was talking about before as far as tradition. Just that little 32nd clip, you saw a tradition as far as you go to her first. She, he said, okay, quickly, bring your family.

I'm going to bring our family. We're going to negotiate the terms that are okay. This is the offering that you have to provide. All of that, like I always say, that goes back to having some level of tradition culture and social norms that have to be done. Customs. It wasn't just, yo, what's up? I like you. Let's go out on a date. I like, you know what I mean? Like, let's, let's go to Vegas and let's, let's see. I'll tell our parents later after this is all done. We got a kid. Three kids. My mom never met you. Like it's so much stuff. That was a pretty cool clip. Like for people, because a lot of people have never, they've never seen that before. Never been exposed to that. So I thought that was some good education. But what's your thoughts on it? I really like what Speed is doing, even in the next clip about Botswana and the diamond industry. I love in his own way how he's educating his audience. I just want to know there's like a chart that we can try. Trading view, y'all got the diary cow index per country.

Available just to shoot out. Just in case. Which, how many cows are you willing to give? I don't know. I got to see a chart. And I got to see what the historical price were. So it just depends. Trading view, draw a swap. Somebody. Oh, Vlad, put it up. Ten of. Put that, put it up there. Polly market. Put it up. Let me know how much 2000 cow. So that's the part. Because I guess depending on where you are, the cows go for different prices. But that would be good to know too. Because I don't think it's a standard price for a cow. I know you, I know we're joking. But you have to know the price for everything you pay. This like, I know Troy put it in the thing. Five of you got a chain of plays movies. Like at some point, we need to start having conversations with those in our culture about what should not be done.

I so I know. Oh, it's five K per. Five K. But then, but then you bring up the point. Is it a waggle beef cow? Yeah, well, it's a quality of it. And some of these cows is like malnourished, man. But it's like 80 pounds. I think I really make it. So is this the finest grade of beef that we can provide? Yeah. Because that might be more, that might be a higher level of price that you're paying. Yeah. Five K. How many cows you want to pay? So think about it, if it's five K. Five K to bring up. Very, very little bit. If you pay a five K because the people was died. It's once again, it's not a push present. I just learned about that. You just learned about the push present recently? What? You know about that? I said, wait, y'all, let's get north. Because let's think about this rationally, right? Because people, some people will say like,

damn cows, like they laugh. Like, no, but that goes back to this different forms of currency. See, yeah. If you in the middle of the desert, water means more to you than a thousand dollars. Yeah. A gallon of water would mean more because you'll die. So a gold bar means nothing in the middle of the desert when you're about to die of dehydration. Water is premium. So, yeah, you can kind of laugh off the cow thing, but if your survival is based on farming, cow, okay, if a cow's gone for five thousand dollars, let's say, let's say, let's just say 10, right? That's 50, that's 50 K, right? Like, okay, it's not really that funny after a certain point of time because it's like, let's say he's after 14, that's 70,000. The vast majority of people that got married got did not get 70,000 dollars.

At all. So y'all laughing. But it's an investment into the family. So, in fact, like, the vast majority of people got married for nothing. For nothing. And it's a good way for the father to know if you have capability taking care of the daughter, at least on a financial front too. At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us. Day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CVS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at CVS.com or just come by our store. We can't wait to meet you. Store hours buried by location. When you manage procurement for multiple facilities, every order matters. But when it's for a hospital system, they matter even more. Granger gets it. And knows there's no time for managing multiple suppliers

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