Dec 17

worthman

- Eyewitness to Hitler Warns Americans: “Keep your guns. Keep your guns and buy more guns” (The Daily Sheeple, Dec 17, 2013):

When Katie Worthman was a little girl in Austria, she witnessed firsthand Adolph Hitler’s rise to power and the Soviet communist occupation that followed.  She also witnessed, for decades, the distortions of the media when it came to the reporting of the events.

From her eyewitness perspective, Worthman said that the whole thing didn’t happen overnight, in a brutal attack, like the media portrays it, but rather, it evolved into a dictatorship gradually, over a period of a few years.  Hitler didn’t come across as someone evil, to be feared, initially.  ”In the beginning, Hitler didn’t look like, or talk like a monster at all. He talked like an American politician.”

Here are some things that occurred in Austria, according to Worthman, that just might look familiar to Americans: Continue reading »

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Jul 12

- Austrian Steelmaker Offshores Production To … Texas (Testosterone Pit, July 9, 2013):

Labor is expensive in Austria, and heavily unionized with strict work rules governing what workers can and can’t do, and with long mandated vacations, and all sorts of other welfare-state goodies, and yet the unemployment rate of 4.7% is the lowest in the Eurozone, and one of the lower rates around the world. Austria is a small industrial powerhouse, dependent on its largest export partner, Germany, to which it is, economically, joined at the hip.

Nevertheless, there are issues: shaky TBTF banks exposed to Eastern European “growth opportunities,” such as Hungary; Alpine Bau, a construction group with 15,000 employees that just went bust; Germany whose economy is stagnating; and now offshoring by the steel industry.

The voestalpine Group, a steelmaker based in Linz, Austria, with over 46,000 employees, saw its revenues for 2012/13 decline by 4% to $15 billion. It blamed the “cooling down of the global economy,” and “dwindling momentum in Asia (especially China).” It doesn’t see a scenario that’s exactly rosy [the CEO of Siemens had sketched a similar scenario: my take.... “During The Last Crisis, We Had China,” Now We Have No One].

Continue reading »

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Mar 24

- Why Cyprus 2013 is worse than the KreditAnstalt (1931) and Argentina 2001 crises (A View from the Trenches, March 24, 2013):

The Cyprus 2013, like any other event, can be thought in political and economic terms.

Political analysis: Two dimensions

Politically, I can see two dimensions. The first dimension belongs to the geopolitical history of the region, with the addition of the recently discovered natural gas reserves. The historical relevance goes as far back as 1853, the year the Crimean War began. The Crimean War took place in the adjacent Black Sea, but the political interest was the same: To avoid the expansion of Russia into the Mediterranean. The relevance of this episode was the break-up of the balance of power established after the Napoleonic Wars, with the Congress of Vienna, in 1815. From then on, a whole new series of unexpected events would lead to a weaker France, a stronger Prussia, new alliances and a final resolution sixty years later: World War I.  It is within this same framework that I see Cyprus 2013 as a very relevant political event: Should Russia eventually obtain a bailout of Cyprus (as I write, this does not seem likely) against a pledge on the natural gas reserves or a naval base, a new balance of power will have been drafted in the region, with Israel as the biggest loser.

The second political dimension refers to a point I made exactly a year ago, precisely inspired in the KreditAnstalt event of 1931. In an article titled: “On gold, stocks, financial repression and the KreditAnstalt of 1931” I wrote: Continue reading »

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Mar 13

- Over half of Austrians think the Nazis would be elected if the party was readmitted to politics (Independent, March 11, 2013):

As Austria prepares to mark the anniversary of its annexation by Nazi Germany, an opinion poll has shown that more than half of the population think it highly likely that the Nazis would be elected if they were readmitted as a party.

A further 42 per cent agreed with the view that life “wasn’t all bad under the Nazis”, and 39 per cent said they thought a recurrence of anti-Semitic persecution was likely in Austria.

The disturbing findings were contained in a poll conducted for the Vienna newspaper, “Der Standard” in advance of Tuesday’s 75th anniversary of Austria’s Nazi annexation – a date which still counts as one of the most shameful and controversial in the country’s history.

Tens of thousands of Austrians gave Adolf Hitler and his troops a rapturous welcome when they invaded the country unopposed in March 1938. Austria fought World War II as part of Nazi Germany and many Austrians helped run Nazi death camps. Yet for decades, post-war Austria frequently perpetuated the myth that it was a victim of Nazi oppression. Der Standard said its poll was designed to show how today’s Austrians judged Nazi rule.

Continue reading »

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Feb 10

- “China Accounts For Nearly Half Of World’s New Money Supply” (ZeroHedge, Feb 8, 2013):

When it comes to the creation of money in China, and specifically the asset side of the ledger, or loans, there is much more confusion than consensus, primarily because nobody knows who it is that is creating the money: private or public entities, SOEs, the PBOC, regional banks, shadow banks, or your next door neighbor.Another thing that is largely misreported: what the actual assets pledged as collateral to new loans are. Because while it is well-known that corporate debt in China is now greater as a percentage of GDP than in any other country, the comprehensive picture is still confusing (albeit GMO did a fantastic summary recently of what is known) as reporting standards are still non-existent, and the government flat out lies about its balance sheet.

Yet one very simple shortcut to get a sense of what is truly happening in monetary China is to peek at the liability side of the consolidated balance sheet, and one line in particular, namely deposits. Because unlike in the US, where the vibrant equity Ponzi scheme has rarely been stronger, in China it is still all about the cash and as a result the bulk of the newly created money once again return back to the banking sector in the form of a deposit. Ironically, that is what banking should be about (instead of the entire industry being a glorified hedge fund) although in China even this practice has gone on way too far, and like in Europe, has long passed the point where there is real collateral value backing up the new money created (which explains the emergence of various letters of credit collateralized by copper still not dug out of the ground which reappear every time Chinese inflation spikes above 5%).

So how do deposits look when comparing the US and China? Well, after having less than half the total US deposits back in 2005, China has pumped enough cash into the economy using various public and private conduits to make even Ben Bernanke blush: between January 2005 and January 2013, Chinese bank deposits have soared by a whopping $11 trillion, rising from $4 trillion to $15 trillion! We have no idea what the real Chinese GDP number is but this expansion alone is anywhere between 200 and 300% of the real GDP as it stands now. Continue reading »

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Dec 25

- She survived Hitler and wants to warn America (Pakalert, Dec 24, 2012)

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Dec 12

- Austrian Civil Servant Blows $440 Million In Taxpayer Funds On Risky Derivatives (ZeroHedge, Dec 11, 2012):

It is oddly ironic that on the day the US bailout of AIG is complete, and with a “profit” at that, the spin goes, even if the spin ignores that the “profit” was only purchased at the expense of trillions in sovereign debt issuance and near immediate monetization by the Fed, which has onboarded a mindbogling amount of duration risk (from under $500MM in DV01 in 2008 to over $2.5 billion currently, but nobody will discuss this issue as few if any grasp just how much risk exposure the Fed has shifted away from entities such as AIG), that we learn just how far the abuse of virtually free taxpayer funds goes. Only instead of some US government apparatchiks blowing through billions in some concrete government building in downtown D.C., we go to the birthplace of Mozart, in Salzburg, Austria to learn that a civil servant gambled hundreds of millions of euros of taxpayers’ money on high-risk derivatives.”

While this is merely one incident in a faraway land, what it does show is that in an environment in which cheap money is handed out loosely by the government (of which the US government is most guilty) the opportunity cost for prudent, fiducariy responsibility is very low, and it is only a matter of time before the new normal moral hazard rears its ugly head, as one after another more such incidents will come to light. And just like housing could never go down in the credit bubble years, so the Fed is perceived as infallible in the current latest, greatest and luckily final, peak bubble. Just like housing, the Fed is infallible until it fails. Continue reading »

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Nov 22

- Austrian Parliament Hears 80% Of Austrian Gold Bullion Reserves In London (ZeroHedge, Nov 22, 2012):

The Austrian central bank keeps most of its 280 metric tons of gold reserves in the United Kingdom, Vice Governor Wolfgang Duchatczek was quoted as saying in the finance committee of the country’s parliament today, according to Bloomberg.

Answering lawmakers’ questions, Duchatczek said 80%, or 224.4 metric tons of the metal was stored in the U.K., 17% or 48.7 metric tons in Austria and 3% in Switzerland, according to a summary of a closed-door committee meeting provided by the parliament.

The reserve has been unchanged since 2007, Duchatczek was quoted as saying. The central bank has earned 300 million euros ($385 million) over the last ten years by lending the gold, he said.

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Aug 20

- Tales Of The Unexpected: Who Really Benefited From The Euro (Hint: NOT Germany) (ZeroHedge, Aug 18, 2012):

With austerity supposedly destroying standards of living (that no real austerity has actually been implemented is a different matter entirely) across Europe’s insolvent periphery, the only recourse said broke countries (here’s looking at you Mario Monti and Mariano Rajoy) have is to desperately attempt to shame those countries who have money such as Germany, Austria, Finland and the Netherlands, aka Europe’s AAA club, into shoveling more and more and more cash into the bottomless pit that are the PIIGS. After all, precisely this was the basis for the “hostage and extortion” strategy that Monti employed at the June 29 summit, and which has resulted in a surge in European stocks on hopes Germany will indeed bail everyone out. The reason for this is that, at least according to conventional wisdom, it was these countries that benefited the most from a decade of EUR-facilitated mercantilism, and exported inflation to their spendthrfit (and ‘debt-thrift’) southern neighbors. So it is only “fair” that these countries now give back a little (or a whole lot) back (just as it is only “fair” that Germany give a helping hand in Obama’s reelection chances, which as everyone knows would be negligible if the global capital markets were to tumble just before November if reality in Europe were to come back with a vengeance). Well, as virtually always happens, conventional wisdom is wrong, and as the following chart from UBS demonstrates, when one analyzes the only relevant metric that compares changes in standards of living across various income deciles- namely changes in real disposable household income – it is precisely the PIIGS that benefited, while countries such as Germany and Austria were left in the dust.

From UBS:

If we look across the larger and longer established Euro membership we can see these two patterns being replicated according to country type. Each country shows the cumulative real disposable household income growth for each of its income deciles. The lowest income decile is to the left of each country’s selection, and the highest to the right.

Austria looks to be alarmingly weak – what this actually represents is very little change in nominal disposable income growth, coupled with inflation. Germany, Ireland, most of Italy and the French middle class all experience a decline in their standards of living. In most of these countries, the highest income groups do relatively well. Continue reading »

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Aug 05


YouTube Added: 29.07.2012

Description:

The rest of the story: Continue reading »

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May 23

- Austria Joins Germany In Opposing Euro Bonds (ZeroHedge, May 22, 2012):

While the euro bond song and dance is all too familiar, being a carbon copy replay of last year, we feel obliged to remind who the key actors are, but more importantly who the key decision makers are. In short: while last year, at least in the first half, it was everyone against Merkozy, demanding that the two AAA rated countries backstop Europe at their own expense, following the French downgrade, France no longer cared if there are Eurobonds and joined the peripheral push to convince Merkel to shoulder the cost of preserving the Eurozone on its own. Germany politely declined. Fast forward to this year, when we get the same, only Hollande is now more vocal than ever knowing full well that he alone will be unable to deliver the “growth”, read incremental leverage, needed to back up his campaign promises. This is, or rather was, the whole point of today’s and tomorrow’s latest European summit which, just like this weekend’s useless G-8 photosession for the world’s leaders to express their support for either Chelsea or Arsenal, will achieve absolutely nothing. Importantly, we now can add at least one more country to the list of those opposed to a AAA-backstopped rescue of the rest of the Eurozone.

From Bloomberg:

Austria’s Finance Minister Maria Fekter said she opposes joint euro-area bonds as they would cost the Alpine republic more interest. Continue reading »

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Feb 14

- Moody’s warns may cut AAA-rating for UK and France (Reuters, Feb. 14, 2012):

Rating agency Moody’s warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe’s debt crisis.

- Moody’s cuts ratings on Italy, Portugal and Spain (Washington Post, Feb. 14, 2012):

NEW YORK — Ratings agency Moody’s Investor Service on Monday downgraded its credit ratings on Italy, Portugal and Spain, while France, Britain and Austria kept their top ratings but had their outlooks dropped to “negative” from “stable.”

Moody’s also cut its ratings on the smaller nations of Slovakia, Slovenia and Malta. All nine countries are members of the European Union.

London, 13 February 2012 — As anticipated in November 2011, Moody’s Investors Service has today adjusted the sovereign debt ratings of selected EU countries in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis and how these risks exacerbate the affected countries’ own specific challenges.

Rating Action: Moody’s adjusts ratings of 9 European sovereigns to capture downside risks (Moody’s, Feb. 13, 2012):

Moody’s actions can be summarised as follows:

- Austria: outlook on Aaa rating changed to negative

- France: outlook on Aaa rating changed to negative

- Italy: downgraded to A3 from A2, negative outlook

- Malta: downgraded to A3 from A2, negative outlook

- Portugal: downgraded to Ba3 from Ba2, negative outlook

- Slovakia: downgraded to A2 from A1, negative outlook

- Slovenia: downgraded to A2 from A1, negative outlook

- Spain: downgraded to A3 from A1, negative outlook

- United Kingdom: outlook on Aaa rating changed to negative

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Feb 03

-163 dead as cold snap grips Europe (AFP, Feb. 2, 2012):

WARSAW — A cold snap kept Europe in its icy grip Thursday, pushing the death toll to 163 as countries from Ukraine to Italy struggled with temperatures that plunged to record lows in some places.

Entire villages were cut off in parts of eastern Europe, trapping thousands, while road, air and rail links were severed and gas consumption shot up during what has been the severest winter in decades in some regions.

In Ukraine, tens of thousands headed to shelters to escape the freeze that emergencies services said has killed 63 people — most of them frozen to death in the streets, some succumbing to the hypothermia later in hospitals.

Continue reading »

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Jan 14

See also:

- Marc Faber’s Latest Rant On Global Monetization Wars (Video)

… the majority of European nations deserve a CCC rating …

- The Real Dark Horse: S&P’s Mass Downgrade FAQ May Have Just Hobbled The European Sovereign Debt Market


- France’s credit rating downgraded in latest blow to euro zone (The Globe and Mail, Jan. 13, 2012):

The euro zone’s worst-case scenario of recession and default is looming larger after a mass debt downgrade of France and several other countries, and stalled Greek debt restructuring talks.

Standard & Poor’s stripped France of its prized triple-A rating and slashed the ratings of Italy, Spain and six other European countries Friday, continuing a disturbing pattern of the feared becoming reality in Europe’s smouldering debt crisis.

The move Friday crushed nascent hope that the region’s debt woes might finally be easing after successful bond auctions by Spain and Italy earlier in the week.

The most immediate problem for the euro zone is that France – its second largest economy – will now face significantly higher borrowing costs just as the region slides into recession.

Equally important, the downgrade makes it more expensive for the European Financial Stability Fund to raise cash because France is the fund’s No. 2 backer behind Germany. The EFSF, set up in 2010, is due to raise money in the markets on Tuesday.

Continue reading »

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Dec 14

- Austrian Banks Facing Payback as Hungary’s $22 Billion Debt Slaves Revolt (Bloomberg, Dec. 14, 2011):

When Hungary’s former central bank governor was buying a house two months before Lehman Brothers Holdings Inc. collapsed and the country sought an emergency bailout, he received an offer he couldn’t refuse.

Peter Akos Bod, now an economics professor at Corvinus University in Budapest, was given a choice of mortgages by his bank. The 60 year-old could select a loan in Hungary’s currency, the forint, at 13 percent interest, or one in Swiss francs at less than 6 percent. After crunching the numbers on a spreadsheet, he picked the cheaper franc loan.

“It was rational,” he said of his 2008 decision in an interview in the Hungarian capital. “I put it into a model.”

Three years later, Bod and about one million compatriots who took mortgages in francs are faced with a debt pile that has swelled to 4.9 trillion forint ($22 billion). The currency’s 40 percent slump against the franc has raised repayment costs, pushing mortgage arrears to a two-decade high and prompting Prime Minister Viktor Orban’s government to brand the loans “debt slavery.”

To help homeowners, Orban imposed currency losses on banks including Erste Group Bank AG and Raiffeisen Bank International AG (RBI) that may total 900 million euros ($1.2 billion). Faced with the risk Orban would impose further measures, lenders have offered to accept $2.2 billion of additional losses if the government promised to take no further action. If it doesn’t, banks are threatening they may withdraw from the country. Continue reading »

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Sep 26

- France Bans Cash Sales of Gold/Silver over $600 (SHFT, Sep. 23, 2011):

A couple of weeks ago our report that some Austrian banks had begun restricting the sale of gold and silver to 15,000 Euro (~$20,000 USD) reportedly because of money laundering issues was met with disbelief by many readers of financial news and information web sites. As we mentioned in that commentary, it is our view that governments, namely in Western nations, are making it more difficult for individuals to make gold purchases, as well as to do so anonymously.

It looks like this trend of restricting the peoples’ ability to acquire assets of real monetary value is expanding. If a recent report from France is accurate, and based on the French governments official web site it looks like it is, then as of September 1, 2011, anyone attempting to sell or purchase ferrous or non-ferrous metals, which includes gold and silver, will be required to pay for their purchase via a credit card or bank wire transfer if it exceeds 450€ (~ $600 USD):

Here is the applicable French law via www.legifrance.gouv.fr and translated into English by Google Translate:

Continue reading »

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Jun 24

- Austrian company debuts revolutionary wingless aircraft (PhysOrg, June 24, 2011):

A firm from Austria, Austrian Innovative Aeronautical Technology (IAT21) has unveiled a new type of aircraft that flies without wings or rotors, at the Paris Air Show. Though not actually flown at the show, spokesmen for the new aircraft, named D-Dalus (no doubt after the tragic Greek figure Daedalus, who lost his son Icarus when his wings melted as he flew too close to the sun) claim the aircraft is capable of both hovering and flying forward as fast as a jet, all with very little noise.

The is actually based on old technology; it flies by means of rotating discs surrounded by blades whose angle of attack can be altered in flight. The discs are spun by means of a conventional . What’s new is the computer and software that controls the blades, allowing for very precise flying. The company says D-Dalus can hover next to a wall, maneuver though buildings or even lay still atop a moving bobbing ship in bad weather by pushing itself down against the deck.

Continue reading »

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Jun 10

… so that everybody in Germany needs 2-3 jobs to ‘survive’, like in the US, instead of one job to ‘live’ and being able to support an entire family from your income.

There is no labor shortage in Europe.

And  nobody should accept advise from corrupt criminals:

- The European Parliament Refuses To Release Secret Expenses Abuse Report (Telegraph, June 9, 2011)


- You have too many housewives! Brussels sends memo to Germany, Austria and Holland ordering women to get jobs (Daily Mail, June 9, 2011):

The EU wants Europe’s biggest economy to avoid looming labour shortages in future by dismantling barriers to women entering the workforce.

Continue reading »

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Jul 01

Sounds like …

fascism-adolf-hitler

Update: Document of legal action against judge will soon appear on the internet:

Jane Burgermeister has spent the day preparing a report which documents in detail with emails, faxes and official court papers, the shocking manipulation of court files as well as the flagrant abuse of power of the Austrian judge Mag Michaela Lauer and her associates, including Dr Stephan Pflugbeil.

It will be made available on the internet soon (in German) so everyone can see the facts and documents for themselves, and form a better idea of the truly scandalous attempt by Lauer to have Burgermeister put under court supervision simply because she documented her crimes and the way the court files were massaged.

It is the basic right of every citizen to list evidence of a crime and take legal action,: and it is the basic right of every citizen to protect their homes and property from financial damage caused by judges on the take. The misuse of the court guardianship to silence a whistleblower in this case is so blatant that the whole concept must surely be called into question.

If this is allowed to go ahead, no one in Austria is safe from being deprived of their basic freedoms, rights and properties by corrupt courts.


AUSTRIAN JUDGE CAUGHT IN WRONG DOING MOVES TO SILENCE WHISTLEBLOWER JANE BURGERMEISTER BY PUTTING HER UNDER COURT SUPERVISION

jane_burgermeister

An Austrian judge who has been caught out in wrong doing applied yesterday for Jane Burgermeister to be placed under the guardianship of a court in a move that would result in Burgermeister being deprived of all her basic freedoms and rights, including the right to property and the right to represent herself in court.

The judge’s move came after Burgermeister was given permission see the files in the court of Hietzing, Vienna, concerning the administration of the estate of her late father – and documented hard evidence yesterday of the manipulation of those files suggesting wrongdoing and false statements.

Burgermeister subsequently sent a fax of some twenty pages to the court listing the specific documents missing, and also including copies, and asked for these documents to be included in the official court file.

This move clearly so worried Hietzing judge Magister Michaela Lauer that she wrote a letter yesterday to the court near to where Jane Burgermeister lives, in Vienna Döbling, asking for the officials there to begin the process to place her under a court guardianship.

This would strip Burgemreister of her basic rights, including the right to run her blog if her guardian refuses to allow it. Continue reading »

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Jun 06

Bilderberg Meetings
Sitges, Spain 3-6 June 2010


Final List of Participants

Honorary Chairman BEL Davignon, Etienne Vice Chairman, Suez-Tractebel

DEU Ackermann, Josef Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG
GBR Agius, Marcus Chairman, Barclays Bank PLC
ESP Alierta, César Chairman and CEO, Telefónica
INT Almunia, Joaquín Commissioner, European Commission
USA Altman, Roger C. Chairman, Evercore Partners Inc.
USA Arrison, Sonia Author and policy analyst
SWE Bäckström, Urban Director General, Confederation of Swedish Enterprise
PRT Balsemão, Francisco Pinto Chairman and CEO, IMPRESA, S.G.P.S.; Former Prime Minister
ITA Bernabè, Franco CEO, Telecom Italia S.p.A.
SWE Bildt, Carl Minister of Foreign Affairs
FIN Blåfield, Antti Senior Editorial Writer, Helsingin Sanomat
ESP Botín, Ana P. Executive Chairman, Banesto
NOR Brandtzæg, Svein Richard CEO, Norsk Hydro ASA
AUT Bronner, Oscar Publisher and Editor, Der Standard
TUR Çakir, Ruşen Journalist
CAN Campbell, Gordon Premier of British Columbia
ESP Carvajal Urquijo, Jaime Managing Director, Advent International
FRA Castries, Henri de Chairman of the Management Board and CEO, AXA
ESP Cebrián, Juan Luis CEO, PRISA
ESP Cisneros, Gustavo A. Chairman and CEO, Cisneros Group of Companies
CAN Clark, W. Edmund President and CEO, TD Bank Financial Group
USA Collins, Timothy C. Senior Managing Director and CEO, Ripplewood Holdings, LLC
ITA Conti, Fulvio CEO and General Manager, Enel SpA
GRC David, George A. Chairman, Coca-Cola H.B.C. S.A.
DNK Eldrup, Anders CEO, DONG Energy
ITA Elkann, John Chairman, Fiat S.p.A.
DEU Enders, Thomas CEO, Airbus SAS
ESP Entrecanales, José M. Chairman, Acciona
DNK Federspiel, Ulrik Vice President Global Affairs, Haldor Topsøe A/S
USA Feldstein, Martin S. George F. Baker Professor of Economics, Harvard University
USA Ferguson, Niall Laurence A. Tisch Professor of History, Harvard University
AUT Fischer, Heinz Federal President
IRL Gallagher, Paul Attorney General
USA Gates, William H. Co-chair, Bill & Melinda Gates Foundation and Chairman, Microsoft Corporation
USA Gordon, Philip H. Assistant Secretary of State for European and Eurasian Affairs
USA Graham, Donald E. Chairman and CEO, The Washington Post Company
INT Gucht, Karel de Commissioner, European Commission
TUR Gürel, Z. Damla Special Adviser to the President on EU Affairs
NLD Halberstadt, Victor Professor of Economics, Leiden University; Former Honorary Secretary General of Bilderberg Meetings
USA Holbrooke, Richard C. Special Representative for Afghanistan and Pakistan
NLD Hommen, Jan H.M. Chairman, ING Group
USA Hormats, Robert D. Under Secretary for Economic, Energy and Agricultural Affairs
BEL Huyghebaert, Jan Chairman of the Board of Directors, KBC Group
USA Johnson, James A. Vice Chairman, Perseus, LLC
FIN Katainen, Jyrki Minister of Finance
USA Keane, John M. Senior Partner, SCP Partners
GBR Kerr, John Member, House of Lords; Deputy Chairman, Royal Dutch Shell plc.
USA Kissinger, Henry A. Chairman, Kissinger Associates, Inc.
USA Kleinfeld, Klaus Chairman and CEO, Alcoa
TUR Koç, Mustafa V. Chairman, Koç Holding A.Ş.
USA Kravis, Henry R. Founding Partner, Kohlberg Kravis Roberts & Co.
USA Kravis, Marie-Josée Senior Fellow, Hudson Institute, Inc.
INT Kroes, Neelie Commissioner, European Commission
USA Lander, Eric S. President and Director, Broad Institute of Harvard and MIT
FRA Lauvergeon, Anne Chairman of the Executive Board, AREVA
ESP León Gross, Bernardino Secretary General, Office of the Prime Minister
DEU Löscher, Peter Chairman of the Board of Management, Siemens AG
NOR Magnus, Birger Chairman, Storebrand ASA
CAN Mansbridge, Peter Chief Correspondent, Canadian Broadcasting Corporation
USA Mathews, Jessica T. President, Carnegie Endowment for International Peace
CAN McKenna, Frank Deputy Chair, TD Bank Financial Group
GBR Micklethwait, John Editor-in-Chief, The Economist
FRA Montbrial, Thierry de President, French Institute for International Relations
ITA Monti, Mario President, Universita Commerciale Luigi Bocconi
INT Moyo, Dambisa F. Economist and Author
USA Mundie, Craig J. Chief Research and Strategy Officer, Microsoft Corporation
NOR Myklebust, Egil Former Chairman of the Board of Directors SAS, Norsk Hydro ASA
USA Naím, Moisés Editor-in-Chief, Foreign Policy
NLD Netherlands, H.M. the Queen of the
ESP Nin Génova, Juan María President and CEO, La Caixa
DNK Nyrup Rasmussen, Poul Former Prime Minister
GBR Oldham, John National Clinical Lead for Quality and Productivity
FIN Ollila, Jorma Chairman, Royal Dutch Shell plc
USA Orszag, Peter R. Director, Office of Management and Budget
TUR Özilhan, Tuncay Chairman, Anadolu Group
ITA Padoa-Schioppa, Tommaso Former Minister of Finance; President of Notre Europe
GRC Papaconstantinou, George Minister of Finance
USA Parker, Sean Managing Partner, Founders Fund
USA Pearl, Frank H. Chairman and CEO, Perseus, LLC
USA Perle, Richard N. Resident Fellow, American Enterprise Institute for Public Policy Research
ESP Polanco, Ignacio Chairman, Grupo PRISA
CAN Prichard, J. Robert S. President and CEO, Metrolinx
FRA Ramanantsoa, Bernard Dean, HEC Paris Group
PRT Rangel, Paulo Member, European Parliament
CAN Reisman, Heather M. Chair and CEO, Indigo Books & Music Inc.
SWE Renström, Lars President and CEO, Alfa Laval
NLD Rinnooy Kan, Alexander H.G. Chairman, Social and Economic Council of the Netherlands (SER)
ITA Rocca, Gianfelice Chairman, Techint
ESP Rodriguez Inciarte, Matías Executive Vice Chairman, Grupo Santander
USA Rose, Charlie Producer, Rose Communications
USA Rubin, Robert E. Co-Chairman, Council on Foreign Relations; Former Secretary of the Treasury
TUR Sabanci Dinçer, Suzan Chairman, Akbank
ITA Scaroni, Paolo CEO, Eni S.p.A.
USA Schmidt, Eric CEO and Chairman of the Board, Google
AUT Scholten, Rudolf Member of the Board of Executive Directors, Oesterreichische Kontrollbank AG
DEU Scholz, Olaf Vice Chairman, SPD
INT Sheeran, Josette Executive Director, United Nations World Food Programme
INT Solana Madariaga, Javier Former Secretary General, Council of the European Union
ESP Spain, H.M. the Queen of
USA Steinberg, James B. Deputy Secretary of State
INT Stigson, Björn President, World Business Council for Sustainable Development
USA Summers, Lawrence H. Director, National Economic Council
IRL Sutherland, Peter D. Chairman, Goldman Sachs International
GBR Taylor, J. Martin Chairman, Syngenta International AG
PRT Teixeira dos Santos, Fernando Minister of State and Finance
USA Thiel, Peter A. President, Clarium Capital Management, LLC
GRC Tsoukalis, Loukas President, ELIAMEP
INT Tumpel-Gugerell, Gertrude Member of the Executive Board, European Central Bank
USA Varney, Christine A. Assistant Attorney General for Antitrust
CHE Vasella, Daniel L. Chairman, Novartis AG
USA Volcker, Paul A. Chairman, Economic Recovery Advisory Board
CHE Voser, Peter CEO, Royal Dutch Shell plc
FIN Wahlroos, Björn Chairman, Sampo plc
CHE Waldvogel, Francis A. Chairman, Novartis Venture Fund
SWE Wallenberg, Jacob Chairman, Investor AB
NLD Wellink, Nout President, De Nederlandsche Bank
USA West, F.J. Bing Author
GBR Williams, Shirley Member, House of Lords
USA Wolfensohn, James D. Chairman, Wolfensohn & Company, LLC
ESP Zapatero, José Luis Rodríguez Prime Minister
DEU Zetsche, Dieter Chairman, Daimler AG
INT Zoellick, Robert B. President, The World Bank Group

Rapporteurs
GBR Bredow, Vendeline von Business Correspondent, The Economist
GBR Wooldridge, Adrian D. Business Correspondent, The Economist

Source: Bilderberg Meetings

See also:

- Spanish PM to Open Secretive Bilderberg Club Meeting in Sitges

- Bilderberg 2010: The Shadowy Global Elite Is Meeting In Sitges

- Bilderberg investigation revealed to European Parliament

- The Elitist Takeover of Poland: IMF’s Marek Belka, Polish Ex-PM and Bilderberg Member Proposed as Polish Central Bank Head

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Mar 31

See also: Austrian church abuse hot lines log 566 reports (Boston Herald)


There have been 566 reports of various kinds of abuse by clergy at the Catholic Church’s ombudsman’s offices this year, it was reported today (Tues).

Vienna archdiocese has had the highest number, 174, followed by Innsbruck diocese with 115. More than half of them can no longer be prosecuted because of the statute of limitations.

Cases of sexual abuse constitute 27 per cent of these, cases of violence 26 per cent. More than half of them require further investigation, according to the media.

The rising number of reports has caused Vienna Archbishop Christoph Cardinal Schönborn, the titular head of the Austrian Catholic Church and chairman of the Austrian Bishops Conference, to react. Continue reading »

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Oct 21

rabbit
There will be no pheasant or rabbit hunting in the northern part of Salzburg’s Flachgau region this year, in the wake of a severe hail storm that killed many wild animals last July.

There will be no pheasant or rabbit hunting in the northern part of Salzburg’s Flachgau region this year in the wake of a severe hail storm that killed many wild animals last July.

Provincial hunting chief Sepp Eder said today (Thurs) that 80 per cent of rabbits and 90 per cent of pheasants had been killed by tennis-ball sized hail in the Michaelbeuern, St. Georgen, Lamprechtshausen and Bürmoos municipalities.

He put the total number of pheasants killed by hail in the area at 2,500, adding that 200 deer had either been found dead or so badly injured they had to be put out of their misery.

Eder said wild animals had sought refuge in grain fields in vain, as high wind during the hail storm had blown the masses of ice in all directions, making it impossible to find a secure refuge.

He noted parts of Bavaria and Lower Austria had also been hard-hit by hail but not as badly as the Flachgau.

Eder predicted it would take three to five years for the wildlife population to return to normal size in that region.

Wild animals were not the only casualty during summer hail storms, which cost Austrian farmers 70 million Euros in damages.

Insurance companies received more than 16,000 damage reports, one-fifth more than in 2007. More than 100,000 hectares of cropland and every tenth farmer were affected.

Continue reading »

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Jul 06

More information:
- New Zealand orders 300,000 doses of untested and unapproved swine flu vaccine
- Journalist Files Charges against WHO and UN for Bioterrorism and Intent to Commit Mass Murder
- Robert F. Kennedy Jr. on vaccination and the autism coverup
- Children may get swine flu vaccine shots first this fall; Schools might even be turned into shot clinics
- Dr. Russell Blaylock on 1976 Swine Flu and Current Outbreak
- Vaccines Found to Cause Diabetes in Children
- Vaccine Nation – Director’s Cut
- Vaccines and Medical Experiments on Children, Minorities, Woman and Inmates (1845 – 2007)


About my 2-hour interview with the Austrian anti terrorism unit and the criminal charges filed in Florida

In the meantime, I’ve been for an interview at the

The Security Directorate Vienna
For the Protection of the Constitution
and For Fighting Terrorism

following an invitation, which can be seen at this link.

http://wakenews.net/Austrian_Anti_Terrorism_Unit_Invitation.JPG

I presented more evidence, arguments and facts concerning Baxter and the 72 kilos of live bird flu material, which was sent out to 16 laboratories from its facilities in Austria in February – material which was destined for vaccines in four countries: Slovenia, Czech Republic, Germany and Austria.

Related article: Baxter: Product contaminated with live H5N1 avian flu virus

The original live bird flu virus came from WHO.

The Austrian Health Minister Alois Stöger confirmed that Baxter sent out 72 kilos in Parliamentary Answers dated May 20th, 2009.

He also revealed he had undertaken no steps to conduct a full in investigation into Baxter’s breach of biosafety level 3 regulations.

http://wakenews.net/Austrian_Parliamentary_Answers_re_Baxter.pdf

He claimed the 72 kilos of live bird flu material had been destroyed, but gave no details of that process; the suspicion has been raised the 72 kilos is still in circulation.

The original parliamentary questions tabled on March 20th (also in German), — which the Health Minister was obliged by law to answer within 8 weeks –, can also be seen on the download-site for all documents on a secure website in Switzerland:

http://wakenews.net/html/jane_burgermeister.html

Under Austria’s Influenza Pandemic Plan of 2005, WHO and the EU are set to take charge of Austria via a special crisis management team (SKKM) to be set up in the Federal Ministery of Interior in the event of a “pandemic” emergency.

Innoculating the entire Austrian population with (Baxter) shots is a declared objective of the SKKM. The injections will contain a mix of “whole virus”, mercury and adjuvants – and so be very toxic.

http://www.bmg.gv.at/cms/site/attachments/3/6/8/CH0742/CMS1126084167391/pp_inetversion12_061.pdf

http://www.bmg.gv.at/cms/site/attachments/3/6/8/CH0742/CMS1126084167391/pp_englisch.pdf

Similar pandemic plans exist in countries all over Europe.

In some countries, such as France, the injections could be mandatory.

This week I will file a new set of criminal charges against the Health Minister, Alois Stöger, the Chancellor Werner Faymann, Dr Dagmar Belakowitsch-Jenewein and others for their role in the cover up of Baxter’s crime here in Austria.

Continue reading »

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May 01


Inspectors for swine flu walk through a terminal at Narita International Airport in Narita City, Chiba Prefecture, Japan on April 30, 2009. Photographer: Haruyoshi Yamaguchi/Bloomberg News

May 1 (Bloomberg) — Flu reached 11 countries, as governments closed schools, planned for vaccine production and tapped emergency stockpiles of antiviral medicine.

Genetic tests have confirmed more than 331 people have the strain originally labeled swine flu, according to the World Health Organization’s Web site. Hundreds more cases are suspected in New York, Mexico, Australia and New Zealand. The WHO said thousands of samples from sick patients are backlogged for testing, and disease trackers are looking at whether an outbreak in Spain should trigger a declaration of a pandemic.

The Geneva-based health agency raised its six-tier alert to 5 on April 29 and said a move to the next and final level, for the world’s first influenza pandemic since 1968, may soon be made. The WHO urged countries to make final preparations against a disease that may sweep across the globe, preying on a world population that has no natural immunity to the new virus.

Continue reading »

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Mar 15

Western European banks are exposed to over £1 trillion of eastern European debt, leading to comparisons with the subprime crisis in the United States. Austria is particularly affected, with an outstanding loan portfolio to eastern Europe of £213 billion, 71 per cent of GDP.

Even worse: ‘Toxic’ EU bank assets total £16.3 trillion (Telegraph)


Ukraine and Latvia have warned that Western Europe faces financial disaster unless it unites to help stricken countries in the former Soviet bloc.

Government officials from the two countries, which are at risk of bankruptcy as a result of the global financial crisis, told the Daily Telegraph that the European Union’s biggest powers were in danger of repeating the worst mistakes of the 1930s depression by retreating into isolationism and protectionism.

Grigory Nemyria, Ukraine’s deputy prime minister, said that the EU had to overcome bitter internal differences over how to deal with the economic crisis in eastern Europe when world leaders met next month at the G20 summit in England.

“The EU should not just be helping Ukraine because Ukraine is helpless,” Mr Nemyria said. “It should be doing so because it is in the EU’s self-interest.

“There is a high exposure in the [Western European] banking sector to Ukraine, Latvia etc that can only be addressed by acting in concert. The cost of inaction will be far greater than the cost of action.”

Continue reading »

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Mar 06

The company that released contaminated flu virus material from a plant in Austria confirmed Friday that the experimental product contained live H5N1 avian flu viruses.

And an official of the World Health Organization’s European operation said the body is closely monitoring the investigation into the events that took place at Baxter International’s research facility in Orth-Donau, Austria.

“At this juncture we are confident in saying that public health and occupational risk is minimal at present,” medical officer Roberta Andraghetti said from Copenhagen, Denmark.

“But what remains unanswered are the circumstances surrounding the incident in the Baxter facility in Orth-Donau.”

The contaminated product, a mix of H3N2 seasonal flu viruses and unlabelled H5N1 viruses, was supplied to an Austrian research company. The Austrian firm, Avir Green Hills Biotechnology, then sent portions of it to sub-contractors in the Czech Republic, Slovenia and Germany.

The contamination incident, which is being investigated by the four European countries, came to light when the subcontractor in the Czech Republic inoculated ferrets with the product and they died. Ferrets shouldn’t die from exposure to human H3N2 flu viruses.

Public health authorities concerned about what has been described as a “serious error” on Baxter’s part have assumed the death of the ferrets meant the H5N1 virus in the product was live. But the company, Baxter International Inc., has been parsimonious about the amount of information it has released about the event.

On Friday, the company’s director of global bioscience communications confirmed what scientists have suspected.

“It was live,” Christopher Bona said in an email.

The contaminated product, which Baxter calls “experimental virus material,” was made at the Orth-Donau research facility. Baxter makes its flu vaccine — including a human H5N1 vaccine for which a licence is expected shortly — at a facility in the Czech Republic.

Continue reading »

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Feb 19

Europe’s institutions are scrambling for ways to prevent financial contagion from Ukraine and the rest of Eastern Europe from setting off a full-blown banking crisis in Austria, with risks of systemic contagion across the eurozone.

Joaquin Almunia, EU’s economic commissioner, said Brussels is ready to co-ordinate a pan-EU response to contain the crisis before matters get out of hand.

“I share with the Austrian authorities their concern about the situation of these economies. Everybody shares their concern about the risks involved. We are extremely concerned about the difficulties with the Ukrainian government,” he said.

Continue reading »

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Feb 15

The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point.

If mishandled by the world policy establishment, this debacle is big enough to shatter the fragile banking systems of Western Europe and set off round two of our financial Götterdämmerung.

Austria’s finance minister Josef Pröll made frantic efforts last week to put together a €150bn rescue for the ex-Soviet bloc. Well he might. His banks have lent €230bn to the region, equal to 70pc of Austria’s GDP.

“A failure rate of 10pc would lead to the collapse of the Austrian financial sector,” reported Der Standard in Vienna. Unfortunately, that is about to happen.

The European Bank for Reconstruction and Development (EBRD) says bad debts will top 10pc and may reach 20pc. The Vienna press said Bank Austria and its Italian owner Unicredit face a “monetary Stalingrad” in the East.

Mr Pröll tried to drum up support for his rescue package from EU finance ministers in Brussels last week. The idea was scotched by Germany’s Peer Steinbrück. Not our problem, he said. We’ll see about that.

Stephen Jen, currency chief at Morgan Stanley, said Eastern Europe has borrowed $1.7 trillion abroad, much on short-term maturities. It must repay – or roll over – $400bn this year, equal to a third of the region’s GDP. Good luck. The credit window has slammed shut.

Not even Russia can easily cover the $500bn dollar debts of its oligarchs while oil remains near $33 a barrel. The budget is based on Urals crude at $95. Russia has bled 36pc of its foreign reserves since August defending the rouble.

“This is the largest run on a currency in history,” said Mr Jen.

Continue reading »

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Nov 01

Hard Cash Investor Walter K. Eichelburg Sees Hard Times


After the panic in the financial markets, the government might panic also ensues. (Rolf van Melis/Pixelio)

GERMANY-Hard-Cash investor Walter K. Eichelburg, predicted the mortgage bubble bust and insolvency of Fannie Mae and Freddie Mac in the United States in an early 2007 Epoch Times interview. He made himself available for another interview with The Epoch Times.

Epoch Times (ET): Mr. Eichelburg, what can we learn from today’s crisis?

Continue reading »

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Oct 27

The crisis in Hungary recalls the heady days of the UK’s expulsion from the ERM.

The financial crisis spreading like wildfire across the former Soviet bloc threatens to set off a second and more dangerous banking crisis in Western Europe, tipping the whole Continent into a fully-fledged economic slump.

Currency pegs are being tested to destruction on the fringes of Europe’s monetary union in a traumatic upheaval that recalls the collapse of the Exchange Rate Mechanism in 1992.

“This is the biggest currency crisis the world has ever seen,” said Neil Mellor, a strategist at Bank of New York Mellon.

Experts fear the mayhem may soon trigger a chain reaction within the eurozone itself. The risk is a surge in capital flight from Austria – the country, as it happens, that set off the global banking collapse of May 1931 when Credit-Anstalt went down – and from a string of Club Med countries that rely on foreign funding to cover huge current account deficits.

The latest data from the Bank for International Settlements shows that Western European banks hold almost all the exposure to the emerging market bubble, now busting with spectacular effect.

They account for three-quarters of the total $4.7 trillion £2.96 trillion) in cross-border bank loans to Eastern Europe, Latin America and emerging Asia extended during the global credit boom – a sum that vastly exceeds the scale of both the US sub-prime and Alt-A debacles.

Continue reading »

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