I was at a talk at the London Jewellery fair on Sunday in which a prominent man in the Diamond industry was lecturing.
His business objective is to "commodify" diamonds so that investors can treat it as an asset class. This means having a clear, transparent system for investors to price diamonds for investment purposes. Currently this is sorely lacking in the industry. Diamonds are well known for having very poor resale value.
He is a long way off achieving that so this anecdote is just for interest.
It was a nice talk anyway he covered the current state of economic affairs. He reiterated the US is basically screwed, bent on inflating its currency until Chinese held American debt is worthless. As he reiterated GOLD is MONEY.
