On a slightly different bubble.

Two banks and four companies have just been fined €15 million over the selling of investments in diamonds with promises of secure profits to be made. The diamonds were sold to clients, it now comes out, at as much as double the market value. The banks have also charged commissions on the purchase and later on the subsequent sale of the diamonds. As well as the fine they now have to refund losses to their clients.

This was a bit of a bubble that occured all around the world and probably drove the price up at the time. Since 2011 however, with various ups and downs, the price of diamonds has remained reasonably stable.

Peter

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