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what's the difference between the two tenses?
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At times, English grammar has shades of interpretation and your question falls into this category. I would interpret "I was a fool" as referring to an action that has been completed.
"I've been a fool" refers more to an action that is ongoing and open to a change of course.
"I've been a fool" refers more to an action that is ongoing and open to a change of course.
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