QUANTITATIVE EASING - LESSONS FROM HISTORY GEORGE TREFGARNE Central for Policy Studies Source: http://www.cps.org.uk INTRODUCTION There can be few fields of human endeavour in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present. J K Galbraith The four most dangerous words in investing are 'This time, it's different'. Sir John Templeton
