Your code works, just set the recursion limit (default is 1000):
>>> def fib(x, cache={1:0,2:1}):
... if x is not 1 and x is not 2 and x not in cache: cache[x] = fib(x-1) + f
ib(x-2)
... return cache[x]
...
>>> from sys import setrecursionlimit
>>> setrecursionlimit(4001)
>>> fib(4000)
24665411055943750739295700920408683043621329657331084855778701271654158540392715
48090034103786310930146677221724629877922534738171673991711165681180811514457211
13771400656054018493704811431159158792987298892998378107544456316501964164304630
21568595514449785504918067352892206292173283858530346012173429628868997174476215
95754737778371797011268738657294932351901755682732067943003555687894170965511472
22394287423465133129791428666544293424932758353804445807459873383767095726534051
03186366562265469193320676382408395686924657068094675464095820220760924728356005
27753139995364477320639625889904027436038223654786222515006804845418392308019640
53848249082837958012652040193422565794818023898141209364892225521425081077545093
40549694342959926058170589410813569880167004050051440392247460055993434072332526
101572422443738016276258104875526626L
>>>
The reason is, if you imagine a large tree, your root node is 4000, which connects to 3999 and 3998. you go all the way down one branch of the tree until you hit a base case. Then you come back up building the cache from the bottom. So the tree is over 1000 deep which is why you hit the limit.