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A Great Threat

by Gormack on April 25th, 2010

On 29 October, 1956, Great Britain, France, and Israel invaded Egypt over Nassar’s decision to nationalize the Suez Canal.

President Eisenhower was furious and demanded the aggressors withdraw. He instructed the Secretary of the Treasury to prepare flood the markets with Pounds Sterling held by the US Government.

The British Exchequer advised Prime Minister Anthony Eden the resulting devaluation of the Pound would ruin the economy.

Britian backed down, Eden’s government fell, and England relinquished forever the role of imperial superpower.

This government’s reckless spending puts the Nation at great risk!

From → History Speaks

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