WWII Debt

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Originally Posted by Ava Estelle

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Originally Posted by digmen1

The First World War cost Britain most of its overseas reserves it had to sell most of its assets to pay for the war ! Its been broke ever since !

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That was the second world war, the US wouldn't extend credit until Britain sold it's "Empire".

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No it was the First World War.

Britain had to sell most of its foreign assets (eg most of the railways of South America) to pay for the First World War buying materials and subsiding many of the Allied participants.

See Winston Churchill's book - I think it was called The World Crisis where he lists two pages of figures on this subject. I've lost my copy.

Kind Regards

Digby
NZ

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Originally Posted by digmen1

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Originally Posted by Ava Estelle

That was the second world war, the US wouldn't extend credit until Britain sold it's "Empire".

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No it was the First World War.

Britain had to sell most of its foreign assets (eg most of the railways of South America) to pay for the First World War buying materials and subsiding many of the Allied participants.

See Winston Churchill's book - I think it was called The World Crisis where he lists two pages of figures on this subject. I've lost my copy.

Kind Regards

Digby
NZ

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Traditionally, a juncture such as this requires that someone insert the word "pwned", I believe. :naughty:

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Originally Posted by j2k4

Traditionally, a juncture such as this requires that someone insert the word "pwned", I believe. :naughty:

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And that would be you, would it?

The United States demanded that in return for Lend Lease, which Britain desperately needed to sustain its war effort, Britain pledge itself to abandon any aspirations of post-war empire, dismantle the system of imperial preference and shrink the sterling area to prevent it from competing with the dollar.

We know how you love to jump in on a whiff of triumphalism j2, but you really should try reading before commenting, I suggest John Maynard Keynes: Fighting for Britain, 1937-1946.

The price Britain paid for US financial support was the dismantling of the British Empire.

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Originally Posted by Mr JP Fugley

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Originally Posted by GepperRankins

does this mean the dollar is even weaker?

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Are you suggesting that the reduction of the US debtor's figure may have actually de-valued their currency? It's an interesting point, however I would have thought that, given it is such a miniscule amount it is unlikely to have had any real effect.

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I actually see how that might happen, if their accountants count money other people owes you as assets, same as yours do :unsure:

Maybe potential money is worth more, somehow.

Especially if you paid earlier than expected.

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Originally Posted by Ava Estelle

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Originally Posted by j2k4

Traditionally, a juncture such as this requires that someone insert the word "pwned", I believe. :naughty:

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And that would be you, would it?

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In this case?

Yes, I believe that would be me.

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Originally Posted by Ava Estelle

The United States demanded that in return for Lend Lease, which Britain desperately needed to sustain its war effort, Britain pledge itself to abandon any aspirations of post-war empire, dismantle the system of imperial preference and shrink the sterling area to prevent it from competing with the dollar.

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Well, that could be your characterization of the arrangement, but I would read it differently, as well you know.

The fact is, whether your version is true/accurate/radically misleading/just dumb does not adequately inform the events which followed.

What we do know, and what is generally accepted as true, is that aid was asked for/offered to the British advantage, She was therefore able to successfully conclude the Second World War, but, to the eternal regret of some, ceased to rule much beyond Her native Isles.

Whatever the eventuality, it seems clear that, if the U.S. did indeed demand forfeiture of Her empire, Britain saw a workable play, and accepted.

I honor those who decided to survive, and win the war by doing so.

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Originally Posted by Ava Estelle

We know how you love to jump in on a whiff of triumphalism j2, but you really should try reading before commenting, I suggest John Maynard Keynes: Fighting for Britain, 1937-1946.

The price Britain paid for US financial support was the dismantling of the British Empire.

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WTF, triumphalism?

I didn't start this thread, you know, and besides which:

Did Keynes buy it?

Or did he shy from judgement?

I mean, really now...do you want to argue about it?

We could argue about who fucked up Iraq first and worst, if you like...





So sorry for not replying sooner; my 40 lb. puppy punched me in the eye Sunday evening, and I didn't read your post until just now.

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Originally Posted by digmen1

Russia has paid all its debt to he IMF due to it shuge oil income

The First World War cost Britain most of its overseas reserves it had to sell most of its assets to pay for the war ! Its been broke ever since !

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I live in a broke country. :O

You'd think someone would have said. :shutup:

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Originally Posted by Mr JP Fugley

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Originally Posted by digmen1

Russia has paid all its debt to he IMF due to it shuge oil income

The First World War cost Britain most of its overseas reserves it had to sell most of its assets to pay for the war ! Its been broke ever since !

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I live in a broke country. :O

You'd think someone would have said. :shutup:

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I thought Maggie said it plainly, didn't she?

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Originally Posted by j2k4

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Originally Posted by Mr JP Fugley

I live in a broke country. :O

You'd think someone would have said. :shutup:

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I thought Maggie said it plainly, didn't she?

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No, however if it's true it's more likely she did it than the damned bosch.

Curse you Red Baron.