In 1636-37, recently after they were introduced, tulip bulb futures became traded commodities, worth up to 10 times a skilled artisans annual income. A single bulb was known to trade for as much as 4 fat oxen (approx. 480ƒ), more than a silver cup etc. However, the issue arose when the futures speculation market for these crashed. Many of the trades never saw a single bulb move, and when an arranged bulb auction failed to have anyone arrive (probably due to an outbreak of plague) the market collapsed. History is full of unwise investments.
Posted on: Sun, 18 May 2014 00:45:59 +0000
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