The business fuels organized crime around the world. The diamond dealer busted in NYC last week for financing the sale of shoulder held missiles to take down U.S. aircraft is just one very small example. This was an illegal money-changing operation and had nothing to do with diamonds except the crook happened to be in the diamond trade. For more info check out:
http://www.jckgroup.com/index.asp?layout=article&articleid=CA317142&industry=Security&industryid=687&webzine=jck&publication=jck
The NYT sunday mag's cover story is an expose on Victor Bout, who is touted wide and far as the world's largest arms trafficker. His preferred method of payment for the tools of death? A sack full of cash or a sock full of diamonds.
You seem to have a dog in this fight Bernie.