Blood Gold at Wal-Mart; Five Million Dead in the Congo

One of the most interesting things I found out about in this 60 Minutes story is that Wal-Mart is the largest gold retailer in the United States. Here at Disinfo, we distributed Robert Greenwald’s Wal-Mart: The High Cost of Low Price, and here’s another troubling consequence to add to this idea, that low price doesn’t come without costs that you, the consumer, may not be aware of. Costs that can make you think twice about exactly what you are buying.

Scott Pelley reports on 60 Minutes:

8 Comments on "Blood Gold at Wal-Mart; Five Million Dead in the Congo"

  1. shenonymous | Nov 30, 2009 at 8:17 pm |

    What if WalMart is the only store within a 27-mile radius to shop? They have a monopoly and will not let other shops that would compete in to the area.

    • I understand the difficulty for the consumer when Wal-Mart is the only show in town. What's interesting to me (and asked in the news segment) is that since Wal-Mart has so much control over/success in the U.S. gold jewelry market can they influence where the gold supply comes from…

  2. Word Eater | Nov 30, 2009 at 9:44 pm |

    I have anecdotal evidence that Wal-mart goes out of its way to make sure that local (at least, *select* local) businesses do not go out of business when they move in.

    They've funded independent businesses to update their frontage and signage.

    It is debatable whether they actually support competition for the sake of saving local businesses or for the sake of being able to just *appear* to save local businesses.

  3. tonyviner | Dec 1, 2009 at 1:22 am |

    I knew there was a good reason I don't buy my girlfriend gold jewelry from Wal-Mart.

  4. psycl0ptic | Jan 30, 2010 at 10:19 pm |

    You just have to wonder…how many kids labored to dig up Mr. T's gold?

  5. Anonymous | Mar 29, 2010 at 10:53 pm |

    I recently saw a diamond and gold ring at Costco for $40K. WTF??

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