... but this time it's different, right? This isn't a blip and it's not a bubble?
Please show this long term curve that demonstrates the correctness of the author's argument, then. I'm interested in learning something new.
When the tie was broken, the price in US$$ varied but the peak was of very short duration
I have looked but can't find the chart dating from 1793 that illlustrates the point well. There is also a chart for hundreds of years that is pretty much flat and the spike is barely noticeable. This one shows the very short duration of the spike as well