using "gay" and "faggot" as a synonym for bad equates all of the gay/lesbian people with bad, "annoying" things. It's othering and dehumanising. Your example of calling people say, straight, is invalid because there is no penalty in society for straightness, it is rewarded and considered normal, proper, while on a whole homosexuality is considered abnormal and even bad thing, that can make, even "justify" others treating you as less than human because of the way you were born.
Emeralds can only be found in extreme hills, and I think they're meant to be rarer than diamonds
Not really the best part of the movie, but certainly memorable. :P