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MG MGA - War Debt

Hey guys, today is a moment in history for us over here in the UK. World War 2 put our country in a great deal of financial debt to you in the US. After the war we were on our knees and had to export to survive. Notably for this forum we exported most of our MGAs to you.

Today, 60 years on from a massive US monetary loan, we have paid the final £48M instalment on our loan.

We are free!

Thanks for enjoying the MGA with us. I love the comraderie.

Steve
Steve Gyles

I read that you paid off Canada as well today. Many thanks, not that we, the great Canadian unwashed, will get to see any of it!

And unlike the gringos, we still have her Majesty on our bank notes. Have a great MGA New Year.

Peter.
P. Tilbury

Peter

My apologies. Canada as well. Many thanks.

Steve
Steve Gyles

Thanks for the money which our politicians will waste as soon as they get their hands on it. ;-) Perhaps funding some research study that will eventually put our old cars off the road no doubt. Still, the British are an honorable people to pay the debt at all, a lot of others never did. Happy MGA'ing in 2007.
Bill Young

Yes, I heard on the radio today in Montreal that the final payment had been made to Canada. US$22 million, I believe they said. 50 year loan at 2% interest. I must admit that, until today, I didn't even know about the Canadian loan. Until now, I had only heard that Britain was deeply in debt to the US (hence the "Export or Die" policy post-war). Was it just the US and Canada that got the final payment today, or were there other countries?



Derek Nicholson

Just looked it up on the Times website. Guess it was just Canada and the US.

http://www.timesonline.co.uk/article/0,,2-2520100.html

Derek Nicholson

... and the US wrote off the WWI loan in 1931 or we would still be up to our eyes in it. Cheers Cam
Cam Cunningham

So let's see. We loaned you money and you sent us MG's. The loan is paid off... we are still paying to keep our MG's running. Who got the better deal?

Mark
M Gannon

Steve,
We have forgiven the UK for the debt they owe Australia for WW 1 & 2- just keep sending us dud cricket teams!
Mike
Mike Ellsmore

Does this mean now we have to sent 'em back?
Steve Meline

Lend lease? Bought and paid for!
M Whitt

I like Steve Meline's suggestion best. Yes, send them all back, plus the MGTCs, MGTDs, Healeys and TRs. We could certainly find homes for them here! You can keep the MGBs.

Steve
Steve Gyles

That might start WW3!

Don't push your luck, Steve.

Derek Nicholson

Hey Steve, how about I help you send yours first. Then if they like what they see, we won't have to send ours because ours don't look like yours!!!!! Racing window screen and all those other goodies. If you haven't got your clutch fixed yet, maybe they think all our cars run that way and that will close the deal and all of us over here will be able to keep our cars. You didn't fix it yet did you? I don't want to give up my baby that I have had for over 35 years.!!!!
JEFF BECKER

Jeff, My clutch job somehow turned into ANOTHER total engine re-do. Sid's did something wrong 2 years ago. More on that when I see you, or here if any one's interested. I should get it back in january. When is that Long Beach swap meet? Did I miss it?

Ya, I was gu'na send it home to Steve, but now I can't afford the postage!
Steve Meline

Long Beach has about 14 meets a year. If you are thinking about the MG swap meet, it was in November and is only 11 months away!!!! The next Long beach meet is about the 7th and they are having a second on about the 28th of Jan on Sun. If you need some parts let me know if I can help you.
JEFF BECKER

This thread was discussed between 29/12/2006 and 31/12/2006

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