World War II Ends

The Brits pay off their war debt to us.

Under the arrangement, the US handed a financial lifeline to Britain, allowing it to secure oil, food, arms and other military equipment on credit to help the war effort. Though other countries also benefited under the programme — a $48 billion project — Britain received the largest chunk of aid.
When the war finished, the economist Maynard Keynes — by then the government adviser Lord Keynes — led a delegation to the U.S to agree repayment for those materials for which it had been charged and to secure a loan of $4 billion. He warned that Britain had been left facing a “financial Dunkirk”.

Still, I was kinda hoping we could send over a couple repo guys. Nothing big. Maybe a few castles.

Posted by on January 2nd, 2007 at 3:32 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.