Britain makes final WW2 lend-lease payment - GoFuckYourself.com

Sarah_Jayne · 12-29-2006, 07:01 AM

Britain makes final WW2 lend-lease payment

Sixty-one years after the end of the second world war, Britain has finally paid the US back for vital financial assistance it provided to help the UK continue to resist Nazi Germany.

The Treasury has announced that a payment of $83.25 million (£42.43 million) will be made today to the US, closing the account which was initially set up in 1941.

During the second world war, US president Franklin Delano Roosevelt convinced a doubtful Congress of the need to shore up Britain to prevent Adolf Hitler establishing an unchallenged dominance over Europe.

As a result $4.3 billion (£2.2 billion) of funds were provided at a two per cent interest rate for British use, a triumph for then-prime minister Winston Churchill who had exerted considerable diplomatic pressure in his efforts to win the loan from the Americans.

After victory was achieved in 1945, Britain remained in financial straits and won an additional loan of $1.2 billion (£0.6 billion) from Canada. A payment of $22.5 million (£11.5 million) is also being made today to clear that account.

"It was vital support which helped Britain defeat Nazi Germany and secure peace and prosperity in the postwar period," Treasury minister Ed Balls said in a statement.

"We honour our commitments to them now as they honored their commitments to us all those years ago."

Britain has paid nearly twice the original amounts provided to the lending countries. In total $7.5 billion (£3.8 billion) has been paid to the US and $2 billion (£1.1 billion) to Canada.

http://www.inthenews.co.uk/news/news/finance/britain-makes-final-ww2-lend-lease-payment-$1034891.htm

Pete-KT · 12-29-2006, 07:04 AM

thats kool

who · 12-29-2006, 07:23 AM

It seems like such a small amount.

Sarah_Jayne · 12-29-2006, 07:25 AM

Quote:

Originally Posted by who

It seems like such a small amount.

in today's numbers perhaps

fetishblog · 12-29-2006, 07:27 AM

Quote:

Originally Posted by who

It seems like such a small amount.

$2.2 billion dollars in 1941 was a lot of money. ;) Taking into account for inflation, here's what $2.2 billion dollars would be now:

$28,985,752,194.21

Almost $29 billion. That's alot of money today. ;) Thanks to http://www.westegg.com/inflation/ for calculating this.

Chris · 12-29-2006, 07:30 AM

cool nowe we can fund 20 more minutes of the iraq war

ADL Colin · 12-29-2006, 07:31 AM

That's awesome. 61 years of payments. War is so much about economics.

61 years. War is so expensive. Worldwide the % of budgets being allocated to standing armies is on the decrease.

ajrocks · 12-29-2006, 07:31 AM

They still owe me some money.

who · 12-29-2006, 07:31 AM

Quote:

Originally Posted by fetishblog

$2.2 billion dollars in 1941 was a lot of money. ;) Taking into account for inflation, here's what $2.2 billion dollars would be now:

$28,985,752,194.21

Almost $29 billion. That's alot of money today. ;) Thanks to http://www.westegg.com/inflation/ for calculating this.

Awesome, thanks! Did they pay the interest or not..?

biftek · 12-29-2006, 07:52 AM

Quote:

Originally Posted by who

Awesome, thanks! Did they pay the interest or not..?

two per cent interest rate

Sarah_Jayne · 12-29-2006, 08:01 AM

Quote:

Originally Posted by ADL Colin

That's awesome. 61 years of payments. War is so much about economics.

61 years. War is so expensive. Worldwide the % of budgets being allocated to standing armies is on the decrease.

interestingly it will take most Londoners longer than that to pay off the mortgage on a one bedroom flat if they bought it today

ADL Colin · 12-29-2006, 08:13 AM

Quote:

Originally Posted by sarah_webinc

interestingly it will take most Londoners longer than that to pay off the mortgage on a one bedroom flat if they bought it today

You have 60 year mortgages in the UK?

Rochard · 12-29-2006, 08:26 AM

It amazes me that sixty years later WWII is still in the news every week. Very few of us understand the impact this war had on the world.

Sarah_Jayne · 12-29-2006, 09:03 AM

Quote:

Originally Posted by ADL Colin

You have 60 year mortgages in the UK?

a month or so ago a bank was floating the possibility of mortgages that would go into the next generation ...property is far to expensive here and they are giving mortgages so many times a persons salary they have no hope in paying it off

Lazonby · 12-29-2006, 09:14 AM

Quote:

Originally Posted by Chris

cool nowe we can fund 20 more minutes of the iraq war

Or, we could use the money to buy a shitload of your 'products'

then find out we've been scammed and beat you to death with a cricket bat.

12-29-2006, 07:01 AM	#1
Sarah_Jayne Now with more Jayne Industry Role: Join Date: Dec 2002 Location: Los Angeles Posts: 40,077	Britain makes final WW2 lend-lease payment Britain makes final WW2 lend-lease payment Sixty-one years after the end of the second world war, Britain has finally paid the US back for vital financial assistance it provided to help the UK continue to resist Nazi Germany. The Treasury has announced that a payment of $83.25 million (£42.43 million) will be made today to the US, closing the account which was initially set up in 1941. During the second world war, US president Franklin Delano Roosevelt convinced a doubtful Congress of the need to shore up Britain to prevent Adolf Hitler establishing an unchallenged dominance over Europe. As a result $4.3 billion (£2.2 billion) of funds were provided at a two per cent interest rate for British use, a triumph for then-prime minister Winston Churchill who had exerted considerable diplomatic pressure in his efforts to win the loan from the Americans. After victory was achieved in 1945, Britain remained in financial straits and won an additional loan of $1.2 billion (£0.6 billion) from Canada. A payment of $22.5 million (£11.5 million) is also being made today to clear that account. "It was vital support which helped Britain defeat Nazi Germany and secure peace and prosperity in the postwar period," Treasury minister Ed Balls said in a statement. "We honour our commitments to them now as they honored their commitments to us all those years ago." Britain has paid nearly twice the original amounts provided to the lending countries. In total $7.5 billion (£3.8 billion) has been paid to the US and $2 billion (£1.1 billion) to Canada. http://www.inthenews.co.uk/news/news/finance/britain-makes-final-ww2-lend-lease-payment-$1034891.htm

12-29-2006, 07:30 AM	#6
Chris Too lazy to set a custom title Industry Role: Join Date: May 2003 Location: icq: 71462500 Skype: Jupzchris Posts: 27,880	cool nowe we can fund 20 more minutes of the iraq war __________________ [email protected]

12-29-2006, 07:31 AM	#7
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	That's awesome. 61 years of payments. War is so much about economics. 61 years. War is so expensive. Worldwide the % of budgets being allocated to standing armies is on the decrease. __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"

12-29-2006, 07:31 AM	#8
ajrocks Confirmed User Join Date: Nov 2004 Location: On Uranus Posts: 4,526	They still owe me some money. __________________ SEO Strategy - Digital Strategy - Cannabis Lead Generation Skype aj.durden1

12-29-2006, 08:26 AM	#13
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,996	It amazes me that sixty years later WWII is still in the news every week. Very few of us understand the impact this war had on the world. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

12-29-2006, 07:04 AM	#2
Pete-KT Workin With The Devil Industry Role: Join Date: Oct 2004 Location: West Bloomfield, MI Posts: 51,532	thats kool

12-29-2006, 07:23 AM	#3
who So Fucking Banned Join Date: Aug 2003 Location: ICQ #23642053 Posts: 19,593	It seems like such a small amount.