Oct 31

Fluoride is THE main ingredient in rat poison.

Fluoride is THE main ingredient in Sarin nerve gas.

Fluoride is THE main ingredient in Prozac.

Fluoride destroys the brain (accumulates the pineal gland), the bones, the organs and causes cancer.

Hitler and Stalin used it in concentration camps and gulags as mass control instrument to make the prisoners docile.

Guess why fluoride is really added to your drinking water?

Over 170 million people, or 67 percent of the United States population drink fluoridated water. 43 of the 50 largest cities in the country are fluoridated.

After reading this you will understand what water fluoridation and fluoride containing anti-depressants like Prozac are all about.

Also take a close look how many times it has been scientifically proven that fluoride damages DNA.

A MUST-READ!


Material Added on November 3, 1997
(c) 1996,1997 Leading Edge Research Group. All Rights Reserved.
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http://www.trufax.org
Email: trufax@trufax.org

A Chronology of Fluoridation

1855 Smelters in Freiburg, Germany first paid damages to neighbors injured by fluoride emissions. (See 1893)

1893 The smelters in Freiburg, Germany paid out 80,000 marks in damages for fluorine contamination injuries and 644,000 marks for permanent relief. (See 1855, 1900, 1907).

1900 The existence of the smelting industry in Germany and Great Britain is threatened by successful lawsuits for fluorine damage and by budensome laws and regulations.

1907 The smelters in Freiburg, Germany (see 1893) are identified as the cause of cripplied cattle in the area since 1877, and fluorides are identified as the culprit.

1916 The first evidence of brown mottling of teeth is reported in the United States, and would be eventually found to be caused by fluorides in water.

1922 Aluminum production (along with production of toxic by-product sodium fluoride) increases. Aluminum cookware is mass introduced in the US, beginning the gradual accumulation of aluminum in the brains of Americans. Additional aluminum is injected into society in “antacids” and toothpaste tubes, which aggrevate the action of toxic fluorides.

1928 The equivalent of the U.S. Public Health Service is under the jurisdiction of Treasury Secretary Andrew W. Mellon, a founder and major stockholder of ALCOA aluminum, a major producer of toxic fluoride wastes. Mellon would step down from control of the Public Health in 1931.

1928 Edward L.Bernays, nephew to Sigmund Freud, writes the book Propaganda, in which he explains the structure of the mechanism which controls the public mind, and how it is manipulated by those who wish to create public acceptance for a particular idea or commodity. Says Bernays, “those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. Our minds are molded, our tastes are formed, largely by men we have never heard of.” Bernays represents another connection to Germany and would be essential in the fluoride campaign in the United States. Wrote Bernay’s, “if you can influence group leaders, either with or without their conscious cooperation, you automatically influence the group which they sway.” (See Bernay’s, 1947, and the fluoride campaign).

1930 Kettering Laboratory is founded from gifts from Ethyl Corporation, General Electric and DuPont (all who have interlocking relationships with I.G. Farben in Germany) to “investigate chemical hazards in American industrial operations” under contract, with provision that research “shall not be released to the public without the consent of the contracting company.” During the mid-20th century, Kettering dominated the medical literature on the toxicology of fluorides, but information was not released into the public domain.

1931 A considerable portion of Kettering Laboratory’s facilities are dedicated to the study of fluorides. Under contract, the studies are not releasable to the public. (See also 1939, Mellon Institute)

1931 Three independent groups of scientists determine that fluoride in the water is the cause of dental mottling. Research teams from ALCOA Aluminum (who have fluorides as a hazardous by-product of aluminum manufacture) and the University of Arizona. Also shown by North African investigators and others. Dr. Gerald Cox of the Mellon Institute, owners of ALCOA, would later solve the expensive disposal problem with toxic fluorides by convincing others that it could be dumped in the public water supply as a “preventative” for tooth decay.

1931 Under an agreement with I.G. Farben, ALCOA accepts a restriction on the production of magnesium in the U.S, hampering the war effort, while Germany itself stepped up production. Most of the U.S. production was shipped out of the country to Germany.

1931 Public Health Service dentist H. Trendley Dean is dispatched by ALCOA founder Andrew Mellon to certain remote towns in the Western U.S. where water wells have a naturally high concentration of calcium fluorides. Dean’s mission would be to find out how much fluoride people could physically tolerate before obvious visible damage to their teeth. Dean publishes a purposely skewed and deceptive study which purports to show that at 1ppm, flourides result in the “reduction of tooth decay”. (See Gerald Cox, 1939)

1931 The Mellon Institute is ALCOA’s Pittsburgh research lab.

1931 From 1931 to 1939, the U.S. Public Health Service seeks to remove fluorides from water supplies because of endemic mottled teeth. ALCOA’s fluoride proposals have not been bought into by the public or government yet.

1931 I.G. Farben and Alcoa Aluminum sign Alted Agreement pooling patents, which would continue through 1939 and beyond. I.G. Farben complex begins large contributions to fund Nazi cause.

1933 A study is published in which it is shown that fluorides inhibit the action relative to lipase on ethyl acetate in vivo 50 percent at a concentration of one part in 15 million. (McClure, F.J., “A Review of Fluorine and its physiological effects”, Physiological Review, 13: 295-297, July 1933).

1933 According to a study by Freni in 1994 (71), in 1933 and again in 1984 that fluorides produce cumulative generational effects on biological organisms.

1937 U.S. Public Health Service publishes material indicating that fluoride concentrations in many U.S. cities varied between 0.6 ppm to 8.0 ppm. A concentration of 0.9 ppm means that over 10% of children have mottled teeth and tooth deformities.

1937 A clinical hygienic study by K. Roholm in 1937, Fluoride Intoxication, published by H.K. Lewis, London. Roholm is convinced that fluorides cross the placental barrier into the fetus. (70). This realization is echoed in 1951 by an M.D. and chemist from the University of Oregon Medical School.

1938 Dr. Wallace Armstrong and P.J.Brekhus at the University of Minnesota Department of Biochemistry publish a study in which they claim that the enamel of sound teeth had a significantly greater fluoride content than the enamel of teeth with cavities. Armstrong was to admit that these results were false. In a followup study in 1963, Dr. Armstrong found no difference in the fluoride contents of the enamal of sound or decayed teeth.

1938 The University of Mexico Bulletin, August 1, 1938, in an article entitled “Menace of Fluorine to Health”, states “Solutions of sodium fluoride with a fluoride content as low as one part in 15 million may inhibit the action of the lipase (pancreatic juice) as much as 50 percent.”

1939 The ALCOA company, the world’s largest producer of sodium fluoride,transfers it technology under the Alted Agreement to Germany. Dow Chemical follows suit.

1939 ALCOA-sponsored bochemist Gerald J. Cox fluoridates rats in his lab and mysteriously concludes that “fluoride reduces cavities”. He makes a public proposal that the U.S. should fluoridate its water supplies. Cox begins to tour the United States, stumping for fluoridation.

1939 Scientists at I.G. Farben prepare the first sample of fluorinated nerve gas Sarin.

1939 On September 29, 1939, Mellon Institute scientist Gerald J. Cox plays a major role in the promotion of fluoridation by saying “the present trend toward removal of fluorides from food and water may need reversal. Water engineers had been recommending a maximum allowable fluoride contaminant level of 0.1 part per million (ppm), maintaining a tenfold margin of safety. (When fluorides were eventually added to water through corporate pressure, that safety factor would be thrown out and the level raised tenfold beyond the engineering recommendations in 1939, when fluoride was properly recognized as a toxic contaminant. Note: Mellon Institute was founded by Andrew and Richard Mellon, former owners of ALCOA Aluminum, plagued by disposal problems of toxic fluoride by products. ALCOA also had a relationship with I.G. Farben in Germany)

1939 U.S. Public Health Service regulations state “the presence of fluorides in excess of 1 ppm shall constitute rejection of the water supply.” (Yet, when water fluoridation is instituted, levels are set at a minumum of 1 ppm)

1939 Volume 9 Report to the House Un-American Activities Committee delves deeply into the alleged use of fluoridation to keep the American people docile, so they would accept the changing of their system of government to a socialist state.

1940 “Fluoride inhibits neuromuscular activity”. Ref: Russo, G. Att.Acad. Sci. Nat.., 1940.

1940 Soviet concentration camps maintained by fluoride administration to inmates to decrease resistance to authority and induce physical deteriorization.

1942 “Fluorine may cause anoxia in the newborn and shorten the period of their survival” Ref: Himwich, H.E., et al., American Journal of Physiology, 1942.

1942 Germany becomes worlds largest producer of aluminum (and Sodium Fluoride). Fluoride is used in the concentration camps to render the prisoners docile and inhibit the questioning of authority.

1943 Researchers from the US Public Health Service examine the health of residents of Bartlett, Texas to see if the 8ppm fluoride in the drinking water was affecting their health. It was checked again in 1953. They find that the death rate in Bartlett was three times higher than a neighboring town which contained 0.4 ppm fluoride.

1943 A special New York State Health Department Committee is appointed to study the advisability of adding fluoride to Newburg’s drinking water, chaired by Dr. Hodge, then chief of fluoride toxicity studies for the Manhattan Project.

1943 The Journal of the American Medical Association on September 18, 1943, contains an article, “Chronic Fluorine Intoxication”, which states, “fluorides are general protoplasmic poisons, changing the permeability of the cell membrane by inhibiting certain enzymes. The exact mechanism of such actions, it was said, are obscure. The sources of fluorine intoxication are drinking water containing 1ppm or more of fluorine, fluorine compounds used as insecticidal sprays for fruits and vegatables (cryolite and barium fluoro- silicate) and the mining and conversion of phosphate rock to superphosphate, which is used as a fertilizer. That process alone releases approximately 25,000 tons of pure fluorine into the atmosphere annually. Other sources of fluorine intoxication is from the fluorides used in the smelting of many metals, such as steel and aluminum, and in the production of glass, enamel and brick.”

1943 Environmental pollution by toxic metals, including fluorides, affects forests, livestock, and urban residents, but coverage remains on local levels.

1944 “Even at 1ppm, fluoride in drinking water poisons cattle, horses and sheep” (Moules, G.R., Water Pollution Research and Summary of Current Literature, 1944.

1944 The city manger of Grand Rapids, Michigan announces that the Michigan State Department of Health is planning a long range experiment with fluoridated water and that Grand Rapids was selected as the location for the experiment. The city commission approves a motion to fluoridate on July 31, and decides it is to begin in January 1945, despite the warning issued three months earlier, ironically, by the American Dental Association. Grand Rapids becomes the first city in the United States to conduct this experiment. It was to serve as the test city to be compared against un-fluoridated Muskegon for a period of ten years relative to tooth decay, “at which time it would be determined whether or not fluoride was “safe and effectiv.” Dr. H. Trendley Dean was put in charge of the project. The experiment was terminated early, after the control city was fluoridated, ruining the validity of the experiment, with the pronouncement that fluorides in public water supplies was “safe”.See 1945.

1944 The Pentagon Scientific Research and Development Group further pursued the project to fluoridate the drinking water of Newburg, New York. Members included Henry L. Barnett, a captain in the Manhattan Project medical section, John W. Fertig, SRDG, Dr. Hodge, and David Ast, chief dental officer of the New York State Health Department, who was placed in charge of the Newburg Project. The group sought information on cumulative effects, which was also a goal of the Manhattan Project. (See below)

1944 Through 1948. Previously classified documents from Manhattan Project which indicate the government knew the physiological and psycho-behavioral effects of fluorides, as a result of studies connected with determining the effect of uranium hexafluoride processing on workers, as well as studies in defense of litigation against the project by tree growers who experienced fluoride damage from airborne pollutants connected with the project. Ref: Declassified documents from the National Archives published in 1997.

1944 An April 29, 1944 Manhattan Project memo, released in 1997, states “Clinical evidence suggests that uranium hexafluoride may have a rather marked central nervous system effect, with mental confusion, drowsiness and lassitude as the conspicuous features… it seems that the fluoride component is the causative factor….since work with these compounds is essential, it will be necessary to know in advance what mental effects may occur after exposure, if workmen are to be properly protected. This is important not only to protect a given individual, but also to prevent a confused workman from injuring others by improperly performing his duties”. Ref: Previously classified SECRET Manhattan Project Memo, 29 April 1944, declassified and released from the National Archives.

1944 Oscar Ewing is put on the payroll of the Aluminum Company of America ALCOA), as an attorney, at an annual salary of $750,000. In 1947, Ewing was made Federal Security Agency Administrator, with the announcement that he was taking a big cut in salary. The US Public Health Service, then a division of the FSA, comes under the command of Ewing, and he begins to vigorously promote fluoridation nationwide. Ref: May 25-27 Hearings before the Committee on Interstate and Foreign Commerce. A by-product of aluminum manufacture is toxic sodium fluoride. Ewings public relations strategist for the fluoride campaign was the nephew of Sigmund Freud, Edward L. Bernays. Bernays conducts a public relations campaign to promote fluorine ingestion by applying Freudian theory to induce public acceptance. It was one of Bernays most successful campaigns.

1944 The October 1944 issue of the Journal of the American Dental Association cautions that “knowledge of the subject does not warrant the introduction of fluorine in community water supplies generally. Sodium fluoride is a highly toxic substance, and while its applications in safe concentrations, and under strict control by competent personnel, may prove to be useful therepeutically, under other circumstances it may definitely be harmful. To be effective, fluorine must be ingested into the system during the years of tooth development, and we do not yet know enough about the chemistry involved to anticipate what other conditions may be produced in the structure of the bone and other tissues of the body generally. We do know that the use of drinking water containing as little as 1.2 to 3.0 ppm of fluorine will cause such developmental disturbances in bones as osteosclerosis, spondylosis, and osteopetrosis, as well as goiter, and we cannot run the risk of producing such serious systemic disturbances in applying what is at present a doubtful procedure intended to prevent development of dental disfigurements among children … because of our anxiety to find some therapeutic procedure that will promote mass prevention of caries, the seeming potentialities of fluorine appear speculatively attractive, but, in the light of our present knowledge or lack of knowledge of the chemistry of the subject, the potentialities for harm far outweigh those for good.”

1945 An FDA Chief inspector discovers that fluorides are being added to beer by the Commonwealth Brewing Company of Massachusetts (the same state where they did experimental fluoride treatments on institutionalized children). The owner of the brewery was arrested and subjected to a Federal jury trial for poisoning the beer. The indictment charged that the beer contained “an added poison or deleterious poison, fluoride, which was unsafe within the meaning of the statute (Section 301a of the Food, Drug and Cosmetic Act), since it was a substance not required in the production of the beer, it could have been avoided by good manufacturing practice.” The fact was established that the fluoride was added in the concentration of 0.5 ppm. The jury was instructed that fluoride was established to be harmful and poisonous, and that it was unimportant to show how much beer it would take to demonstrate harmful effects. Beer was classified as a food and fluoride as a poison in 1945. The Commonwealth Brewery Company was slapped with a $10,000 fine, and Kaufmann, the owner, was given a 6 month suspended jail sentence and a three year probation period.

1945 Newburgh, New York has their water supply fluoridated in May 1945. Subsequent exams of the children by x-ray reveal that almost 14% have cortical defects in bone, compared to the nearby unfluoridated town of Kingston, where 7.5% have bone defects. The data is suppressed. In tandum, Project F (connected with the Manhattan Project) conducted their own studies of Newburg residents, focusing on the amounts of fluoride Newburg residents retained in the tissues and blood – key information sought by the bomb program, according to previously classified documents released in 1997. See 1956.

1945 The newspaper Philadelphia Record, 18 October 1945, reveals an article entitled “First Bomb Suit for Ruined Peaches filed by Salem County Growers for $400,000″ details suits against chemical manufacturers connected with the Manhattan Atomic Bomb Project for hydrogen fluoride damage to peach groves. Companies involved were DuPont de Nemours (which has been interacting with I.G. Farben in Nazi Germany), the Sun Oil Company and the General Chemical Company.

1945 The government does a public test case of fluoridation, comparing fluoridated Grand Rapids with unfluoridated Muskegon, Michigan. The study is to last ten years. After one year, it becomes obvious to the government that fluorides do not conform to their public propaganda, and the study is terminated. The city of Muskegon is then fluoridated in 1947 to conceal the difference in effect. Other experiments are performed covertly on population areas, without the knowledge of the subjects.

1945 Covert experiments with fluorides are conducted in Massachusetts and in Connecticut between 1945 and 1946 on indigent, mentally retarded children at state-run schools. According to 1954 testimony of Florence Birmingham, a trustee of the Wrentham State School in Massachusetts, her schools administration learned only by accident that fluorides were being put in the drinking water.

1945 A study reveals that fluoride’s affinity for magnesium and manganese ions enables it to deplete their availability for vital enzyme functions. (Borei, H., “Inhibition of Cellular Oxidation by Fluoride”, Arkiv.Kemi,Mineral,Geol., 20A, No. 8, 1945).

1946 A letter from the U.S. Engineer Office, Manhattan District, Oak Ridge, Tennessee, to Colonel Warren, Manhattan Project, 1 May 1946, regarding a trip to the DuPont plant, discusses the fluoride damage to the environment. The letter also states “Would there be any use in making attempts to counteract the local fear of fluoride on the part of residents of Salem and Gloucester counties through lectures on fluoride toxicology and perhaps the usefulness of fluoride in tooth health?” Letter signed by Harold C. Hodge, who was also involved in the Newburgh, New York experiments. Ref: Previously classified SECRET Manhattan Project Letter, 1 May 1946, declassified and released from the National Archives in 1997.

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Jan 04

Thieves contracted by a neo-Nazi group that planned to sell sign to fund attacks in Sweden, newspaper claims

Arbeit Macht Frei sign at Auschwitz
The Auschwitz sign before it was stolen Photograph: Irek Dorozanski/Reuters

It sounds like the plot of a Steig Larsson thriller: a band of eastern European criminals is contracted to steal an iconic piece of Nazi memorabilia, which is then sold to a mysterious collector to finance a neofascist bomb attack on the Swedish parliament.

But today it emerged that Swedish investigators are helping Polish detectives investigate the theft of the sign from Auschwitz, amid reports that the robbery was linked to a rightwing terror plot.

The wrought iron plaque reading Arbeit Macht Frei (work sets you free) which spanned the entrance at the former Nazi death camp was wrenched from the gate on 18 December, and recovered three days later, cut into three pieces, in a forest in northern Poland.

The robbery prompted Poland to declare a state of emergency, and provoked impassioned calls for the sign’s return from concentration camp survivors and the Israeli prime minister, Binyamin Netanyahu.

The five men being held in police custody in Krakow in connection with the theft have been described by Polish prosecutors as common criminals who had apparently acted for financial gain. Continue reading »

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Nov 14

Former executive’s explosive book rips the cosy façade off the Swedish furniture giant

the-truth-about-ikea
Claims that Ingvar Kamprad, the founder of Ikea, runs the store with an iron fist, are made in a former executive’s book

The wholesome Scandinavian image of furniture and lifestyle giant Ikea has been rudely shaken by a new book which claims the company is hostile to foreign employees and uses Stasi-style secret police methods to spy on its thousands of staff worldwide.

The explosive charges are made by a former senior Ikea executive Johan Stenebo, a Swede who started working for the company at one of its German outlets outside Hamburg over 20 years ago and rose to a senior management position. He resigned last year.

His book, entitled Sanningen om Ikea (The Truth about Ikea), contains wide-ranging allegations about a company which has become a global household name. Justifying the book to Gemany’s Der Spiegel magazine, he said: “I did not want to go along with it any more, but I could not stay silent.”

Mr Stenebo claims that Ikea, which employs 135,000 staff in 44 countries, is run with an iron fist by founder Ingvar Kamprad and his two sons Mathias and Peter, who were promoted to top management five years ago.

He describes Ikea as “one of the most secretive companies in the world” and claims that senior management were expected to show fanatical loyalty and devotion to Mr Kamprad. “There was an unwritten law for Ikea upper management: loyalty to Ingvar unto death,” he writes.

He alleges that Ikea used methods normally associated with former Communist East Germany’s hated Stasi secret police to spy on its staff and keep them in line. He claims that a close-knit network of company informers kept Mr Kamprad constantly updated on personal gossip about employees and the prevailing atmosphere in each office.

Foreigners who work for Ikea have been referred to by Swedish executives as “niggers”, he writes, and have no chance of being promoted to senior positions. In fact, most of the top Ikea jobs, he claims, go to employees from the town of Älmhult, in the Samaland region of Sweden, where Mr Kamprad grew up. Mr Stenebo claims Ikea has elaborately manipulated the image of its 83-year-old founder, now the world’s fifth-richest man, portraying him as “an ascetic, slightly dim geriatric” with alcohol problems and dyslexia, and confecting for him a typical Ikea lifestyle of modest, affordable simplicity, with a Klippan range sofa and the bog-standard Billy bookcase.

In reality, he writes, these stories were made up by Mr Kamprad (who actually drove a Porsche), then disseminated by media which fell for their quaint charm. There was good business sense to the strategy, he says: the company’s homely image “helped to push down prices with suppliers”.

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Jul 03

“…, punishing savers with negative deposit rates is the height of stupidity.”

“It would be fitting if there was an immediate run on deposits. And if that happens what will Sweden do? Halt deposits? Sweden risks (and deserves) a currency collapse and bank runs for this insane effort. Look for capital flight in Sweden.”


There has been a lot of ludicrous recommendations recently to combat deflation by making deposit rates negative. I did not think any central bank would be dumb enough to try it. I thought wrong.

Today, Riksbank, Sweeden’s central bank cut the deposit rate to -0.25% effectively charging savers interest on deposited money.

DATE 2/07/2009
The weak development of the economy requires a somewhat more expansionary monetary policy. The Executive Board of the Riksbank has therefore decided to cut the repo rate by 0.25 of a percentage point to 0.25 per cent.

Deep economic downturn

Economic activity abroad is very weak and this hits Sweden hard. Exports have fallen substantially and the situation on the labour market is continuing to deteriorate rapidly. The information received in recent months points to the economic downturn in 2009 being somewhat deeper than the Riksbank forecast in April.

Deposit Rate

The decision on the repo rate will apply with effect from Wednesday, 8 July. The deposit rate is at the same time cut to -0.25 per cent and the lending rate to 0.75 per cent.

Sweden Attempts To Boost Lending

Please consider Sweden cuts rates to new low, offers banks loans.

Sweden’s Riksbank cut interest rates to a fresh record low on Thursday and offered banks 100 billion crowns ($13.2 billion) to boost lending as it strives to reverse the country’s worst recession since the 1940s.

The central bank lowered its key interest rate by 25 basis points to 0.25 percent in a surprise move, putting official rates at their lowest since records began in 1907, and said it expected rates to remain at that level until late 2010.

“It’s a double whammy, or even a triple whammy,” said Roger Josefsson at Danske Markets.

“The deposit rates are actually negative now. In some sense they are creating a money machine for banks. You can lend all you want, but don’t put that back into the central bank.”

Sweden was plunged into recession late last year as the global financial crisis pulled the plug on market demand, leaving firms such as world number two truck firm Volvo scrambling to cut costs and shed jobs.

The central bank forecast the economy will contract 5.4 percent this year and return to tepid growth of 1.4 percent next year.

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Jun 05

Sweden is preparing to part-nationalise banks exposed to the economic collapse in Baltic states, raising fears that a string of Western European countries could face similar fallout from rising defaults in the former Communist bloc.

swedbank
Swedish banks have lent more than $75bn (£46bn) to Latvia, Lithuania and Estonia, led by Swedbank and SEB. Photo: REUTERS

Finance Minister Anders Borg said the Swedish state will buy stakes in distressed banks if they fall deeper into trouble but will impose draconian terms.

“We want to be very clear so that people know what could happen,” he said. “If the banks come to us with big credit losses, where they have previously earned big money on lending, then shareholders will take the consequences. We’re going to be clear that insolvent banks that don’t meet legal requirements will see an injection of funds, primarily through government ownership.”

Swedish banks have lent more than $75bn (£46bn) to Latvia, Lithuania and Estonia, led by Swedbank and SEB.

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Jan 13

- Economy could lose 2M jobs in ’09 – report (CNN Money)

- China’s Exports Decline by Most in Decade on Global Recession (Bloomberg)

- Royal Bank of Scotland May Face LyondellBasell Losses (Bloomberg):
Jan. 12 (Bloomberg) — Royal Bank of Scotland Plc is the biggest lender to bankrupt chemical maker Lyondell Chemical Co. and may face losses on its $3.47 billion of loans to the U.S. chemicals company.

- Royal Bank of Scotland Selling Bank of China Stake (Bloomberg)

- Saab, Volvo Must Be ‘Carved Out’ To Win Aid-Swedish Official (CNN Money)

- Commercial property rents collapse in London hedge fund areas (Independent):
Rents for plush offices in Mayfair and St James’s plunged almost 30 per cent last year, hammered by the declining fortunes of many of their hedge funds tenants.

- Stephen King: You can’t buy confidence when the economy is in a state of collapse (Independent): Stephen King is managing director of economics at HSBC

- German bond sale’s fate signals trouble ahead (Financial Times):
A German sovereign bond auction failed (!!!) on Wednesday as investors shunned one of the most liquid and safe assets in the world in a warning for governments seeking to raise record amounts of debt to stimulate slowing economies.

- Bernard Madoff Will Remain Free on Bail, Judge Rules (Bloomberg)

- U.K. Slumps Most Since 1989 as Home Sales Drop, Surveys Show (Bloomberg)

- Zimbabwe introduces $50 billion note (CNN):
HARARE, Zimbabwe (CNN) — Zimbabwe’s central bank will introduce a $50 billion note — enough to buy just two loaves of bread — as a way of fighting cash shortages amid spiraling inflation.

- Taxpayer will own nearly half of super-bank (Independent):
Taxpayers are set to own almost half of the “super-bank” created from Lloyds TSB’s rescue takeover of HBOS, the two banks confirmed today

- Job losses accelerating to levels not seen since World War II (Memphis Commercial Appeal):
“There is no indication that the job situation would stabilize anytime soon,” said Sung Won Sohn, economist at the Martin Smith School of Business at California State University.
“This could turn out to be one of the worst economic setbacks since the Great Depression,” he said.

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Dec 01


The Volvo V70

General Motors and Ford Motor have approached Sweden’s government about financial aid for their lossmaking Saab and Volvo brands.

Related article: Ford Says It May Sell Volvo, Its Last European Brand

GM and Ford want to bolster the two marques’ finances in anticipation of selling them as the Detroit carmakers grapple with a cash crunch that threatens their survival.

Stephen Odell, Volvo’s chief executive, and Saab’s managing director Jan-Ake Jonsson have separately spoken to Maud Olofsson, Sweden’s industry minister, and other officials about securing funds, according to several people familiar with the discussions.

Ford and GM will both tell the US Congress they have long-term plans to dispose of the brands this week when they present detailed business and financial plans to support their request for $25bn of emergency funding.

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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.

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Oct 08


A security officer stands outside of the Federal Reserve building in Washington on Sept. 16, 2008. Photographer: Jay Mallin/Bloomberg News

Oct. 8 (Bloomberg) — The Federal Reserve, European Central Bank and four other central banks lowered interest rates in an unprecedented coordinated effort to ease the economic effects of the worst financial crisis since the Great Depression.

The Fed, ECB, Bank of England, Bank of Canada and Sweden’s Riksbank each cut their benchmark rates by half a percentage point. The Bank of Japan, which didn’t participate in the move, said it supported the action. Switzerland also took part. Separately, China’s central bank lowered its key one-year lending rate by 0.27 percentage point.

Today’s decision follows a global meltdown that sent U.S. stock indexes heading for their biggest annual decline since 1937; Japan’s benchmark today had the worst drop in two decades. Policy makers are also aiming to unfreeze credit markets after the premium on the three-month London interbank offered rate over the Fed’s main rate doubled in two weeks to a record. Continue reading »

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Sep 03

British citizens could be convicted in their absence by foreign courts for traffic, credit card or other criminal offences under plans approved in principle by the European Parliament.

The proposals would allow citizens to be extradited automatically under fast-track procedures at the request of another European Union country on the basis of a decision by the foreign court.

The overwhelming adoption by the Parliament of the proposals, which now go to the Council of Ministers, was condemned yesterday as “throwing habeas corpus out of the window”.

Philip Bradbourn, the Conservative justice and home affairs spokesman in the European Parliament, said: “This initiative would enable courts to pass judgments in absentia. It goes against one of the most fundamental corner-stones of British justice – that the accused has a right to defend himself at trial. If other EU countries want to go ahead with this proposal that’s their choice, but the British Government should have no part [of it].”

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Aug 07

Don’t miss the “Key Points” at the end of the article.
__________________________________________________________________________

· Closer links needed to beat terrorism and crime

· Blueprint wants new force to patrol world flashpoints


A German and an Italian officer with the joint EU force Frontex check a lorry for illegal immigrants on the Polish border. The agency, which is seen as one model of future integration, patrols the EU’s frontiers. Photograph: Sven Kaestner/AP

Europe should consider sharing vast amounts of intelligence and information on its citizens with the US to establish a “Euro-Atlantic area of cooperation” to combat terrorism, according to a high-level confidential report on future security.

The 27 members of the EU should also pool intelligence on terrorism, develop joint video-surveillance and unmanned drone aircraft, start networks of anti-terrorism centres, and boost the role and powers of an intelligence-coordinating body in Brussels, said senior officials. Continue reading »

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Jul 03

FRANKFURT: The European Central Bank, spooked by soaring prices for food and fuel, raised interest rates Thursday, joining several other central banks in battling a global eruption of inflation.

The quarter-point hike, which the bank had signaled last month, had little initial effect on markets, with the euro treading water against the dollar and stocks staying relatively steady. Central banks in Sweden and Norway also raised rates this week, citing inflation. On Thursday, Indonesia raised its key interest rate for the third time this year, while India raised its key lending rate twice last month.

The Federal Reserve in the United States, where short-term interest rates are only half of those in Europe, has so far declined to join them.

The European Central Bank’s decision deepens a recent divergence in monetary policy across the Atlantic, ending a long period when it tended to follow the course set by the Fed.

But the sharp rise in inflation has put Europe’s bank into a policy bind because it has been accompanied, in recent days, by evidence that the economy here is deteriorating much like that of the United States.

Manufacturing activity in the 15 countries that use the euro shrank in June for the first time in three years, according to a survey of European purchasing managers. In Spain and Ireland, where a collapse in housing prices has magnified the problems, there is a real risk of recession.

Still, the European Central Bank, hewing to its inflation-fighting mandate, pressed on with the expected increase, moving the benchmark rate to 4.25 percent from 4 percent. Among other things, it is intended as a warning to unions not to use higher inflation as a lever to demand hefty wage increases.
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It was not clear, before an afternoon news conference chaired by the bank’s president, Jean-Claude Trichet, whether the rate increase would be a one-time gesture or the start of a cycle of tighter monetary policy.

Several economists said they doubted the bank could tighten much further, given the parlous economic situation.

“The ECB is hiking at a time when confidence is plummeting,” said Thomas Mayer, the chief European economist at Deutsche Bank. “The question is, ‘what do you do when asset prices fall at the same time that consumer prices rise?’ The central bankers seem to have reached the end of the line.”

Continue reading »

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Jun 18

Sweeping new powers under which the Swedish security services can monitor private phone calls, e-mails and text messages are expected to come into force this week under legislation that has prompted outrage in the country.

Politicians, businesses, privacy campaigners and individual citizens have lined up to criticise the proposed law, which the Swedish Parliament will vote on tomorrow.

The Bill would grant the country’s intelligence agencies access to cross-border e-mails, phone calls, text messages and faxes, and empower them to monitor websites visited by Swedish citizens.

Since Scandinavia’s telephone network often routes local phone calls through exchanges in neighbouring countries, internet data and calls passing through Sweden on its way between two other countries would also fall within the jurisdiction of the new law.

Press freedom and individual privacy have traditionally been sacrosanct in Sweden, but fears about international crime and terrorism have prompted the country’s centre-right Government to extend the powers of the security services.

Previously, the state could apply for permission to monitor communications if illegal activity was suspected. Under the new law, government agents will be allowed to monitor messages by default.

Thousands of voters have contacted their MPs, urging them to vote against the proposals, but the law is expected to pass.

Dagens Nyheter, Sweden’s leading quality newspaper, compared it with the powers of the Stasi secret police in the former East Germany, and Google said that it would stay out of Sweden if the law is passed.

“We have made it clear to the Swedish authorities that we will never place any Google servers in Sweden if this proposition becomes reality,” Peter Fleischer, a Google spokesman, said. “This proposal seems like something invented by Saudi Arabia and China. It has no place in a Western democracy.”

Journalists have also complained that the law would damage their ability to protect sources.

Tomorrow’s vote comes a month after The Times revealed plans to establish a database containing details of phone calls and e-mails in the UK. The information would be held for at least a year and the police and security services would be able to access it if given permission from the courts.

June 16, 2008
Marcus Oscarsson, Stockholm

Source: The Times

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Mar 06

RSOE Emergency and Disaster Information Service
Budapest, Hungary2008-03-04 19:22:55 – Climate Change – Sweden

GLIDE CODE: CC-20080304-15686-SWE
Date & Time: 2008-03-04 19:22:55 [UTC]
Area: Sweden, , Statewide,

Description:Icebreakers sit idle in ports. Insects crawl out of forest hideouts.
Daffodils sprout up from green lawns. Winter ended before it started in
Europe’s north, where record-high temperatures have people wondering
whether it’s a fluke or an ominous sign of a warming world. “It’s the
warmest winter ever” recorded
, said John Ekwall of the Swedish
Meteorological and Hydrological Institute. In December, January and
February, the average temperature in Stockholm was 36 degrees – the
highest on record since record-keeping began in 1756. Record winter
highs were set at 12 other locations across the country, according to
the national weather service, SMHI. Migratory birds have returned from
southern latitudes prematurely. In southern Sweden, they never left.
“The birds that have stayed are robins and chaffinches,” said biologist
Lars-Ake Janzon at the Swedish Museum of Natural History. “They stayed
because there hasn’t been any snow.”

The warm weather also has stirred life inside the vast forests of the
Nordic and Baltic countries, where insects such as ants and ticks
emerged early from winter shelter. For businesses, the mild weather has
been a mixed blessing. For winter sports enthusiasts, the green winter
has been a nightmare. Small ski resorts around Stockholm never opened,
and skating enthusiasts waited in vain for ice to form on the waterways
surrounding the Swedish capital. “There’s not one millimeter of ice,”
said Anders Tysk, organizer of the annual Vikingarannet ice-skating race
on Lake Malaren. After postponing the race several weekends, he had to
tell 500 registered participants on Monday there would be no race this
year. “It’s the first time we’ve canceled since we introduced flexible
dates in 2003,” he said.

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