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The British Government, having lost their gamble with the Nazis in the pre-war Munich deals with the Nazis, then having had to run begging to the US for economic and military aid in the war and afterwards, had to cede Britain’s colonies, overseas assets, markets and foreign military bases to the US and submit to US demands for bases in Britain in order to bring our wartime allies, the Soviet Union, within range of US nuclear bombers in the US led Cold War and without any British control. In other words the British Sceptre passes to the US.

https://louisproyect.org/2018/04/11/my-dear-americans-the-british-sceptre-passes-to-the-us/
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