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<p>[QUOTE=&quot;passantgardant, post: 1995273, member: 30033&quot;]Four words that are supposed to invalidate any investing argument.&nbsp; But if your frame of reference is the U.S. economy during the past century, then the fact is that this time it really is different:</p><p><br /></p><p style="text-align: center"><img src="http://passantgardant.com/images/stories/money-gas-gold-debt-history_100-yrs_2011-04-16_600x500.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>Now in the grand scheme of things, this isn&#039;t different at all.&nbsp; It&#039;s the same pattern followed by every fiat currency.&nbsp; But this is new within our lifetimes and those of our near ancestors in this country.&nbsp; It&#039;s true that we had hyperinflation in the Continental currency, but that has long since passed out of the public consciousness.&nbsp; Right now the only people in the U.S. which would recognize this pattern, other than those sufficiently researched in the topic, are those from South America, Eastern Europe, Zimbabwe, and the like.&nbsp; This time is not different for them.&nbsp; They&#039;ve seen it before.&nbsp; But for anyone who was born in the U.S. and is speaking from their own personal experience, this time is indeed different.&nbsp; It is not valid to cite anything within your investing lifetime which compares to the present circumstances.&nbsp; This isn&#039;t like 1980, it&#039;s not like 1929 even.&nbsp; This is new for you.&nbsp; Expand your horizons beyond your own immediate experience and see that this has happened before elsewhere, and it didn&#039;t turn out well.[/QUOTE]</p><p><br /></p>

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