Re: Good time to invest...
Don Draper is such an amateur compared to De Beers.
Americans traditionally bought smaller, lower quality diamonds than Europeans and then only the wealthiest part of the population. Solution, give diamonds to movie stars and suggest the giving of a diamond ring was necessary for an engagement in the plot. Soon, a diamond engagement ring - preferably on from De Beers - became associated with romance. This was repeated in Japan and now in China by prominent adverts showing beautiful women (wearing diamonds) pursuing Western lifestyles rather than traditional, tragically diamondless lives.
They seeded the press with stories about the size of diamonds given to the rich and famous, ensure members of the royal family visit diamond mines and receive diamonds from De Beers. All accompanied by lovely photographs of course.
Post war, De Beers sent 'educators' into American schools to teach girls about diamonds and their history. At the same time they invented a new colour 'diamond white' which was associated with only the highest value diamonds.
Their slogan, 'A diamond is forever' - not so much a statement of its stability, but implying that it would be wrong to sell a diamond you've been given so promoting new diamond sales rather than old ones.
Too many small, low-quality diamonds from the Soviet Union threatening to disrupt the market or off-cuts of gemstones which would otherwise go to industry? Sign an agreement to act as the sole supplier to the West of Soviet stones and invent the eternity ring. Size isn't important, but a 'perfect' diamond is.
God only knows what they're dreaming up now.