NOTED IN PASSING
Closing out the books: Who knew?
On 31 December, the UK will make a payment of about $83m (£45.5m) to the US and so discharge the last of its loans from World War II from its transatlantic ally.
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…the UK took a loan for $586m (about £145m at 1945 exchange rates), and a further $3,750m line of credit (about £930m at 1945 exchange rates). The loan was to be paid off in 50 annual repayments starting in 1950, although there were six years when payment was deferred because of economic or political crises.
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But the terms of the loan were extremely generous, with a fixed interest rate of 2% making it considerably less terrifying than a typical mortgage.
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And if it seems strange to the non-economist that WWII debts are still knocking around after 60 years, there are debts that predate the Napoleonic wars. Dr Leunig says the government is still paying out on these “consol” bonds, because it is better value for taxpayers to keep paying the 2.5% interest than to buy back the bonds.
And while the UK dutifully pays off its World War II debts, those from World War I remain resolutely unpaid. And are by no means trifling. In 1934, Britain owed the US $4.4bn of World War I debt (about £866m at 1934 exchange rates). Adjusted by the Retail Price Index, a typical measure of inflation, £866m would equate to £40bn now, and if adjusted by the growth of GDP, to about £225bn.
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During the crisis years of the 1930s, only one nation continued to pay in full - Finland.… Article
Pity poor little Orange Stinky Mengele.
Malaysian authorities have published a list of undesirable titles to prevent parents giving their children names such as Hitler, smelly dog or 007.
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But the ban extends further.
Parents will not be able to call their babies after animals, insects, fruit, vegetables or colours. Article
