HISTFILE=${TMPDIR}/bashhist-$$

set -o history
set -o histexpand

echo a
echo $(echo !!)

echo a
echo !! $(echo !!)

echo b
echo '!!' '$(echo !!)'

echo c
echo "!!" "$(echo !!)"

echo d
echo "!!" $(echo "!!")

echo e
echo '!!' $(echo '!!')

echo f
echo '!!'
echo f
eval echo '!!'

echo g
echo "!!"
echo g
eval echo "!!"

set +o history
rm -f $HISTFILE		# just in case