This day IS History. WW2 OVER! WW1 NOT !

[Karoshi]

UK settles WWII debts to allies .

 

Britain will settle its World War II debts to the US and Canada when it pays two final instalments before the close of 2006, the Treasury has said. The payments of $83.25m (£42.5m) to the US and US$22.7m (£11.6m) to Canada are the last of 50 instalments since 1950.

 

The amount paid back is nearly double that loaned in 1945 and 1946.

 

"This week we finally honour in full our commitments to the US and Canada for the support they gave us 60 years ago," said Treasury Minister Ed Balls.

 

"It was vital support which helped Britain defeat Nazi Germany and secure peace and prosperity in the post-war period. We honour our commitments to them now as they honoured their commitments to us all those years ago," he added.

 

The last payments will be made on Friday, the final working day of the year.

 

Deferred

 

Under the lend-lease programme, which began in March 1941, the then neutral US could provide countries fighting Adolf Hitler with war material.

 

The US joined the war soon after - in the wake of the attack on Pearl Harbour - and the programme ended in 1945.

 

Equipment left over in Britain at the end of hostilities and still needed had to be paid for.

 

The US loaned $4.33bn (£2.2bn) to Britain in 1945, while Canada loaned US$1.19 bn (£607m) in 1946, at a rate of 2% annual interest.

 

Upon the final payments, the UK will have paid back a total of $7.5bn (£3.8bn) to the US and US$2 bn (£1bn) to Canada.

 

Despite the favourable rates there were six years in which Britain deferred payment because of economic or political crises.

 

But its NOT all good news:

 

There are still World War I debts owed to and by Britain. Since a moratorium on all debts from that conflict was agreed at the height of the Great Depression, no repayments have been made to or received from other nations since 1934.

 

War is hell.

 

 

 

 

[Marmite!!]

They said the same thing a couple of years ago http://www.timesonline.co.uk/article/0,,2087-1602670,00.html

 

May be we should of sent then back all those Jeeps & we could of paid the debt of a couple of years early ;-)

[Mark]

This was raised earlier in the year about Britains war debts, nice to see it again

[Marmite!!]

But its NOT all good news:

 

There are still World War I debts owed to and by Britain. Since a moratorium on all debts from that conflict was agreed at the height of the Great Depression, no repayments have been made to or received from other nations since 1934.

 

War is hell.

 

 

 

 

 

 

There are still World War One debts owed to and by Britain, but that no action had been taken on either count since U.S. President Herbert Hoover declared a moratorium in 1931 during the Great Depression.

 

Britain owed to US in 1934: £866m

Adjusted by RPI to 2006: £40bn

Other nations owed Britain: £2.3bn

Adjusted by RPI to 2006: £104bn

 

 

HM Treasury unable to say why the UK never repaid its WWI debts - even though, at the time, many Americans took a dim view of repayments being suspended, for they had bought bonds which stood little chance of showing a return on their investment.

 

The Wall Street Crash helped plunge economies into chaos

Thus despite fighting on the same side in WWII, an air of financial distrust remained after hostilities ended.

"In a 1945 state department survey on the US public's attitudes to its wartime allies, Britain was one of the least trusted countries," says Dr Clavin.

 

During the crisis years of the 1930s, only one nation continued to pay in full - Finland. Perhaps a conscious effort to foster a good reputation with an increasingly influential power, Finland's actions generated thousands of positive stories in the American media at the time. Nor has it been forgotten; the Finns celebrated this achievement in an exhibition last year.

[Snapper]

Did anyone see Max Hastings in the Mail (Daily Bile) lamenting this great event? Very interesting to see someone take up the major point that the US engineered the circumstances of Britain's war debt to make sure we were finished as a world power and to effectively cripple our evil empire by ruining our post war economy. With friends like these...someone said. I personally don't believe in the so called Special Relationship. I don't expect anything in the way of friendship or loyalty from the US, why does the myth persist? Having an alliance or understanding is quite another thing. It is expedient. I DO believe TOTALLY that we owe a debt to the USA for it's sacrifice in WW1 and WW2 - there can be no question of this and I would argue with anyone who says we don't. But this country's stupid political class has to accept that the US has only one interest: itself. Time we started doing the same here. Remember, too what the US owes to us. We were prepared to take on evil totalitarian regimes at huge cost however tough a path this was. Britain ruined itself for the benefit of the world - twice. What other country has done that?

[snowtracdave]

Can anyone help out - Which American Senator was it that said the only good British soldier is a dead one ? A friend who served in the Fleet Air Arm passed away recently told me that one but I can't remember if it was said during the Suez or Aden campaigns .

[Karoshi]

A Similar accusation was made by or about,....John Kerry, a couple of years ago.

[Jack]

Britain ruined itself for the benefit of the world - twice. What other country has done that?

 

 

A very interesting thought. Any logical thoughts on why a nation would do that?

[Karoshi]

Any logical thoughts on why a nation would do that? Well its not the outcome they were looking for. It all sort of went a bit wrong. TWICE.

 

America was envious of our Empire...and wanted one of its own. Some argue that they are still in pursuit of that goal.

[Jack]

I would also like know what happened to all of the gold and treasures that were 'left' behind by the Nazi's..........?????

 

Where did it go??

[Karoshi]

Sure,...you and about 60,000,000 others

[Jack]

The strange thing is Karoshi, is that historically no empires last forever.

[Karoshi]

Jack cos its your birthday in a couple of hours, and I KNOW you can keep a secret, heres my special little money making tip,...just for you.

 

This Nazi Gold stuff, its a piece of Pi**.

 

Pop over to Switzerland, find the biggest bank you can, knock firmly but not harassingly on the front door, enter and say,....Hi I'm Jack. I'm a friend of ISS-Hauptsturmfuehrer Bruno Melmer,.... please can he have his Gold back.

 

Don't forget to take a BIG TRUCK with you as it runs to several tons.

 

Now you MUST promise NOT TO SAY to ANYONE else.

 

Happy Birthday Karoshi

[ArtistsRifles]

Can anyone help out - Which American Senator was it that said the only good British soldier is a dead one ? A friend who served in the Fleet Air Arm passed away recently told me that one but I can't remember if it was said during the Suez or Aden campaigns .

 

 

I think it was actually said about the Palestinian campaign when America sided with the Jewish people trying to take over the old land of Israel against the wishes of the Arab populations living there and the wording was along the lines of:

 

"He had a holiday in his heart every time a British soldier was killed in Palestine"

 

- these words were attributed to a Hollywood motion picture Mogul and were given much support by large sections of the American media.

 

Perhaps it can be said that America sowed the seeds of the modern Middle East crisis by applying pressure to the UK Gov't to p ull out and let the Jewish settlers have thier way - then by further pressuring/influencing the UN to grant the mandate.

I guess it's to the UK's credit at the time that it refused to vote for or against the motion as it was obvious any resulting plan could only be acheived by forde.

[Snapper]

This quote interested me enough to seek out more info and according to the website http://www.britains-smallwars.com it comes from the playwright Ben Hecht (never heard of him - in my ignorance). Maybe it was then paraphrased by a movie mogul in the press or whatever. Whatever the rights and wrongs, this conflict was a prime example of how Britain always loses the propaganda war to American funded organisations. We've all seen how that works in our modern era.

[ArtistsRifles]

Hmmm - NORAID springs to mind here.....

[Snapper]

Indeed. They had a nice imports business going with Colonel Gadaffi didn't they!