Okay people, apologies for this being a bit long - feel free to berate me for it afterwards.
It’s possible to say that Hitler would not have been able to invade and conquer Britain - as was mentioned above this has been much debated already. This is due to factors such as the failure of the Luftwaffe over Britain, the sheer logistical nightmare of planning a successful seaborne invasion (look at the Normandy Landings) and other factors - such as the fact that we can be a stubborn and bloody-minded people sometimes.
With the fear of invasion removed, then i think its fair to say that there was little or no chance of Britain falling or surrendering to the Nazis.
BUT
Without some form of overseas aid from the US then whilst Britain could have “survived” there is no way it would have been able to continue to wage war in Europe - even with the not insignificant (and constantly underestimated) help of Canada, Australia, India and the rest of the former empire.
In this situation Britain would have been faced with no choice other than to come to some sort of peace with Germany. Yes Churchill would never have been a party to it - but Churchill gambled everything on US involvement, and if that gamble had failed (luckily it didn’t) then he would probably have found himself removed from office anyway. He’d have been replaced with someone more amenable to a German peace such as Lord Halifax (who interestingly, had actually been offered the position of PM before but turned it down. The position had then been offered to Churchill instead.)
The peace would probably not even have been on bad terms.
By 1941 Hitler had pretty much accepted that Britain could not be beaten and he also possessed a known admiration of the British. Plus you can factor in that (with a bit of persuading) Britain could probably be brought into the war against Russia (don’t forget that Britain possessed no great love for the communists) and that Germany had no real ambitions with regards to an overseas empire to threaten the British.
In fact, just as there is often the hypothetical debate amongst historians over “would britain have been able to win without US support?” there is also another hypothetical debate which goes along the lines of “given that WW2 effectively ruined Britain, would Britain actually have been better off making peace in 1941?” (i actually had to write an essay on this as part of my degree)
At the end of the day i think its safe to say the following:
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Britain could not have saved Europe from Fascism without US help.
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Britain would not have been defeated - even without US help.
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Without US help Britain would have had to make peace with Germany.
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Without Britain as an ally, the US could not have saved Europe from Fascism either.
I think that pretty much (in my mind) answers the question, but i think its worth mentioning one last thing:
Neither Britain nor America had to fight against Germany. Both stood to lose nothing by standing to one side and letting events run their course.
But they didn’t
Britain had the courage and strength to stand up against Hitler - even when it seemed by 1941 that all hope was lost, and when it meant risking everything - its empire, its freedom, its citizens, and even its future.
And as a Briton it fills me with pride (and a not inconsiderable amount of patriotism) when i remember that.
America had the courage and strength to stand up to Hitler as well - even though it meant fighting in a far-away war that it had not started, against a country that posed no risk to itself, and that would cost it hundreds and thousands of lives and an untold amount of suffering.
And Americans should be bloody proud of that too.