Wait, why is the British law worthless? I'm assuming I'm mistaken, but your claim seems to be solely on the fact you can commit libel from what seems to be the USA on a website not hosted in the UK. That would seem to imply our entire legal system is broken because we don't censor other countries publications, and it'd obviously be interesting to hear the justification behind that.
The UK routinely finds libel judgements against non-Britons, outside of Britain, having essentially no connection with the UK. It's an extremely broken system responsible for widespread legal harassment outside of Britain (examples in article).
It's not enforceable in the US obviously. There's a US law that explicitly prohibits that, provoked by a particularly egregious case.
