I saw something from BBC4 last night called "Mortgaged To The Yanks", all about the loan that Britain received from the US in 1945. The same loan that was well reported at the end of last year when the we had just finished paying it off.
After the War Britain sent an economist called Keynes over to the US who was confident that he could get the Americans to deliver this money as a gift. The way he saw it it was obvious on moral grounds that the money should be a gift and not a loan. His reasoning was that if Britain had not made the stand against fascism that it had, then the whole world would be plunged into "A new dark age" ....along the same lines as Churchill predicted in his famous speech. Therefore, the reasoning goes, America and the rest of the world should be grateful for what we did, and 5 million dollars would do very nicely thank you as part of a debt of gratitude. The fact was that Britain stood alone against fascism for two years before Pearl Harbour and America joining the fight. This massive effort left Britain completely broke, bombed back into the stone age, and with no money to rebuild its economy...
So, what if Britain had not made this stand ? Would the whole world have been taken over eventually by the Third Reich, or by Stalin's murderous brand of communism ? Did Britain save the whole world from a new dark age and receive scant recognition and no real thanks at all from anyone ??
....I think the answer to all three questions is "yes".![]()


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