(Untitled)

[katykins_wetgal]

I made this:

Comments

[benprime]

'neither a borrower, nor a lender be.' Apparently, inflation-adjusted, the UK paid back about twice what it borrowed.

[benprime]

why did it?

[benprime]

Guilt? Kickbacks? Honour? Favourable exchange rates? I don't know. But it does go to show why borrowing from casual acquaintances only leads to bad feelings all around.

[katykins_wetgal]

Is that only twice what it borrowed? It seems a lot more than that. Obviously one has to take into account inflation, etc., but still...

[benprime]

That number is from this article, and this other one from the BBC says the same thing. I can't find a relevant press release at the website of HM Treasury. I haven't worked it out for myself. Where did the 225 billion figure come from? There is mention of 225 billion in this earlier story but that is one estimate of loans still outstanding from WW1.

Whatever it works out as though (and inflation and interest are mass delusions in any case) in some respects it is a little cold and mercenary. On the other hand, where would the UK be now, had it not had those loans post-war? And it's not like America doesn't need the money now.

[katykins_wetgal]

Very true. But we must see this in the context that the USA just gave France and Germany and Italy billions of dollars after WW2 to help them rebuild.