The Anglo-American Loan of 1946: U.S. Economic Opportunism and the Start of the Cold War

The Anglo-American Loan of 1946 rescued Britain from bankruptcy after WWII. Its conditions would impose American economic hegemony on Britain, substitute the dollar for the pound as the world currency, hasten the decline of the British Empire, lay the groundwork for the Marshall Plan, alienate the Soviet Union (which did not get a similar loan or plan), and contribute to start of the cold war. More
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