2. juli 2006

Kommunal aktivering af aktivist

Hentet fra originaludgaven på : http://www.lilliput-information.com/cf/index.html

Dette blev resultatet af 20 dages kommunal aktivering. Projektet var berammet til 6 mdr., men da kommunen ikke kunne holde sin del af aftalen, måtte den affinde sig med, at projektet afsluttedes med endelig rapport efter 20 dage. Til brug ved løsning af projektet stilledes en enkelte løsrevet side fra en forældet saldobalance til rådighed. Bortset fra lidt tilfældige og sporadiske mundtlige oplysninger fra enkelte medarbejdere udleveredes intet materiale til opgavens løsning, og den ansvarlige ledelse oplyste intet, der kunne bruges ved en vurdering af det kommunale projekts økonomiske bæredygtighed. XXXXX kommune valgte at nedlægge det samlede aktiveringsprojekt på CFC, efter man havde taget stilling til denne rapport, hvoraf der nu sendes siderne 1-4 ud af 7 i alt. Der vil komme enkelte meget afslørende afsnit f.eks. på side 5. Flere sider følger på samme side snarest, og afsluttes med en lille tillægsredegørelse for livet i det lukkede land. Denne aktivering måtte afbrydes – men selvrespekten sikredes:




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EU Economics in secret file (in English)

EU Economics in secret file

Somebody may remember that the European Parliament had a voting about a new order on limitation of the Freedom of Speech exactly when the banners’ and ambassies’ arsens wildly caused havoc in the Middle East and in South Asia. In reality the new proposal of the notorious EU-constitution included such general provisions too.  

Perhaps some may take the opinion that the danger is blowing over. Now there will not come more EU to be introduced on this account. EU is exactly constructed precisely in opposite. Always more, never less.   

The system was consciously built in the fifties on the foundation described by Bernard Connolly. In 1995 a senior civil servant Bernard Connolly took on leave from his job as manager in the section for Monetary issues of the European Commission to write his controversial book. It was a product of his freedom of work: ‘The Rotten Heart Of Europe’ was the title. 

He argues that the compulsory monetary value of unit is being used to generate an overwhelming moment as leverage for getting a political union of an progressive scale in place. The elite in Germany and France must divide the power. Mr. Connolly got his resignation at once. He has been proposed to try to defend himself in the European Court in Luxembourg. As far as we know he cleverly did not show up after having experienced both this and that.    

He writes among other things that the European politicians seldom have felt strongly the need to hide their wishes to create the United States Of Europe, especially in their mutual talks in periods between elections.  

“The transformation of power had to begin with the relatively non-controversial functions of ‘economics’ and of ‘production of steel’ to minimize the worries about loosing or the break down of the national sovereignty. You had to secure the functional transformation of power became irreversible (without any possible reverse), a relation guaranteed the treaty-doctrine acquis communitaire to secure that all power transferred to (European) institutions of community was made permanent European law, and at the same time that they were taken out of the sets of laws in the member countries.”  

EU has some so-called regulations of how the create a new law, with which the systems of law in the member states conflicts. The Commission have drawn back the worst. It could be matters of insults connected to subjects abroad, where the press suddenly would have to take all laws in the world into consideration. It is not the only thing. The proposal from the Commission that is on retreat now implied that Italian law had to count, if anybody in Italy felt offended by bad publicity in the for example the British media. The incident with the Muhammed-drawings threw a bright lightening on what was coming up in the EU-law-complex.

The proposal that had to be altered now also implied that Danish courts would have to judge according to Pakistani law, because the country of harm in the proposal did not just include the member states, but generally all countries of the world.Even the media proposal of law has provisionally been removed. The responsible Italian Commissioner Franco Frattini did actually report recently that a common EU-legislation about offences in media is need.   

Euro and Economics, for example in Spain:

Since 1997 (to 1996) the prices on houses have increased by 300 p.c. It has naturally implied the begin of a mega demand, and increased the building activity substantially in the country. In the first 11 months of 2005 the deficit on the balance of payments amounted 7.3 p.c. of GNP, and the deficit was expected (late 2005) to increase even further. The deficit could easily be forecasted to more than 8 p.c. in 2006, and even more than 9 p.c. in 2007. Spain has (officially) low unemployment and high artificial growth – founded on what? The inflation is higher than in the other Euro-countries, and the competition prevent Spain from reach balance. Everything is just fine…, in about 7 years not a single Spanish export industry is left, if the development is allowed to continue.  

The development looks a great deal like the development in USA  ”and another small country in the North”, but USA has the possibility to reduce the value of the US-dollar and spin itself into a web of security with investments of US-papers in areas of low wages. This is not possible to any comparable degree for Spain “and for the small country in the North”.    

Read about and compare this report with another newspaper report (for fun and to note the inconsistency)  Spain needs lots of immigrants, the growth is “almost” extreme:

https://danmark.wordpress.com/2006/05/20/european-population-and-workforce/ (English version)

https://danmark.wordpress.com/2006/06/09/europa-500000-600000-indvandrere-pr-aar-fremover/ (in Danish)  

A propos: 

EU’s hidden file Of Economics:  Of the member states. There is a good reason why the file has been hidden, when you read fragments of it. It is funny to look at some of figures of indication in the Danish period Notat no 1166 of 10 Marsh 2006, and then compare those figures with what we read in the mainstream press.   

It is maintained that the employment, defined as “the number 15-64 years old in jobs divided with the total number in this group”, should be the highest in Denmark 75,6 p.c.  – that implies officially that 24,3 p.c. must be unemployed, expelled, under education, on early retirement and so on – “they call their child almost everthing”. There is a long distance down to Holland with degree of employment of 73.1 – and let exposure that the referred Danish figure is a little overestimated or directly false reported probably from Denmark. Germany and France are to found far below on the file as respectively 11 and 13, and Spain, as you just read should be placed pretty high on the file/the score take the place no 18. On place no 25 you find Polan with a degree of  employment of  51.7 p.c., that implies that just the half of the population between 15 and 64 years old are unemployed in Polan with 48,3 mill. inhabitants. It looks like this fact that we have divide with them in the years to come. If we for a moment turn to the investments; we read that Denmark take place no 13 – if financial investments (lending in the widest meaning of the word) are included is not easy to say. And here you find Spain in place no 3 (financial investments ditto).   

We could guess on Tjekkia and Ireland with lowest taxation in Europe perhaps take the places 1 and 2.  We cannot use more room for a highly questionable EU-file that has been hidden for good reasons – perhaps to be used to instruct the professional politicians. It is difficult to imagine another use.  The impacts from Euro has been qualified describe before EU-referendum in Denmark in 1997 – qualified means the results matched our diagnosis/prognosis/forcast:  


How the so-called hard Euro devastate the remains of the European real economics in an actually weak Europe:   

https://danmark.wordpress.com/2006/06/05/usa-arabien-eu-i-dilemma/ (in Danish)  


https://danmark.wordpress.com/2006/05/25/euro-float-in-oil/ (in English)  

European workforce (corrected):


 Real Welfare And Real Globalization:



New International Monetary System (Monetary Globalization):


2. juli 2006

Joern E. Vig, M. Sc. (Economics)  

UN Introduce New Initiative of Limitation of Freedom of Speech

Turkey and Spain are members of the new commitee in UN-regi:

“The Alliance of Civilization” 

Read about the initiative coming up after an introdution by UN General Secretary Kofi Annan on:


Be sure to hear more from here before this issue gets topical!

Best Regards



Rights Of Freedom And Economics Of Europe (in Danish)

EU og frihedsret

Nogle vil huske at EU-parlamentet netop havde en afstemning om ny forordning med begrænset ytringsfrihed i EU, da det gik vildest til med flag- og ambassade-afbrænding i Mellemøsten og Sydasien. I virkeligheden indeholdt den famøse EU-grundlov netop sådanne generelle bestemmelser.

Så vil mange være tilbøjelige til at mene, at faren er ved at være drevet over. Nu kommer der ikke mere fra EU på den konto. EU er lige netop indrettet præcis modsat; altid mere, aldrig mindre.

Sådan er systemet blevet opbygget helt bevidst siden 1950-erne på grundlag princippet refereret af Bernard Connolly. I 1995 gik Bernard Connolly, en senior embedsmand, på orlov fra sit job som leder af Europa Kommissionens afdeling for monetære anliggender for at skrive en kontroversiel bog. Den var et produkt af hans arbejdsfrihed. ‘Europas Rådne Hjerte’ (‘The Rotten Heart Of Europe’) var titlen på bogen.

Han argumenterer for, at den obligatoriske enhedsmønt bliver brugt til at generere et uimodståeligt moment, der kan løfte en politisk union i fuld skala på plads. Eliten i Tyskland og Frankrig skal dele magten. Mr. Connolly blev afskediget på stedet. Man har forelsået ham at søge at forsvare sig ved Europa Domstolen i Luxembourg. Han holdt sig vist klogeligt væk efter at have oplevet lidt af hvert.

Han skriver bl.a. at mange europæiske politikere sjældent har følt behov for at skjule, deres ønske, at skabe United States of Europe, især ikke når de taler indbyrdes og uden for perioder med valg.

“Overførelsen af magt skulle begynde med relativt ikke-kontroversielle økonomiske funktioner og stålfremstillingen, for at minimere bekymringerne for, at den nationale suverænitet blev brudt ned. Man skulle sikre sig, at den funktionelle overførelse af magt blev irreversibel (ikke kunne tilbageføres), et forhold garanteret af traktat-doktrinen acquis communautaire, der sikrer at al magt overført til (de europæiske) samfundsinstitutioner bliver gjort til permanent europæisk lov og så samtidig, at de tages ud af de nationale lovsæt i medlemslandene.”


EU har nogle såkaldte lovvalgsregler – bestemmelser om hvilke love, som skal gælde i sager, hvor medlemslandenes retssystemer står i konflikt med hinanden. Kommissionen har trukket lidt af det værste tilbage. Der kunne være tale om injuriesager over grænserne, hvor f.eks. pressen pludselig kunne blive nødt til at forholde sig til presselovgivningen i hele verden. Det er ikke det eneste. Kommissionens forslag, der nu er delvis på retræte betød også, at italiensk lov skulle gælde, hvis nogen i Italien føler sig krænket af omtale i f.eks. britiske medier. Dette eksempel bygger naturligvis på eksemplet med premierminister Silvio Berlusconi, der har kørt nærmest en pressekrig med visse engelske aviser.

Optrinet efter Muhammedtegningerne satte for meget spotlys på det, der var under opsejling i EU-lovkomplekset. Forslaget der nu ændres/gemmes betød, at danske domstole kunne komme ud for at skulle dømme efter pakistansk lov, fordi skadelandet i forslaget ikke blot omfattede EU-landene, men alle lande generelt.

Nu skal det understreges, at Danmark fortsat på grund af den retlige undtagelse – et af forbeholdene som de fleste danske politikere gerne vil have fjernet snarest – ville have en særstilling, men ikke længe.

Danmark deltager i møderne, hvor reglerne bliver til; men retsundtagelsen indebærer, at de kommende regler ikke kommer til at gælde Danmark, med mindre Danmark på et senere tidspunkt vælger at tilslutte sig EU’s regler ved en såkaldt parallelaftale. Det skal oplyses, at den slags aftaler har et flertal i det danske folketing tidligere indgået med EU i mange sager, der var omfattet af den retlige undtagelse.

Jo, selv medielovgivningen er midlertidigt fjernet fra forslaget; den ansvarlige italienske kommissær Franco Frattini meldte dog for nyligt, at der fortsat er brug for fælles EU-lovgivning om injurier i medierne.

EURO og økonomi f.eks. i Spanien:

Siden 1997 (til 2006) er huspriserne i Spanien steget med 300 pct. Det har selvfølgelig sat et megaforbrug i gang og forøget byggeriet ganske betydeligt i landet.

I de første 11 måneder af 2005 var underskuddet på betalingsbalancen 7,3 pct. af bruttonationalproduktet (BNP), og underskuddet ser ud til at vil vokse fremover. Underskuddet kan så blive mere end 8 pct. i 2006 og mere end 9 pct. 2007. Spanien har lav officiel arbejdsløshed og høj kunstig vækst – kunstigt byggende på hvad? Inflationen er højere end i de øvrige Euro-lande, og konkurrencen forhindrer Spanien i at opnå balance. Det går så godt…, om 7 år vil der ikke være en eneste spansk eksportindustri tilbage, hvis det får lov at fortsætte.

Udviklingen minder en del om udviklingen i USA ”og andet lille land i det nordlige”; men USA kan mindske dollarens værdi og spinde sig ind i et sikkerhedsnet med investeringer i US-papirer i lavtlønsområder. Det kan Spanien ”og det lille land mod nord” ikke.

Se hvorledes sammenligningen med en anden nyhed harmonerer det netop oplyste:


EU’s skjulte økonomi-liste:

Over EU-økonomierne. Der er faktisk god grund til listen skjules, når man ser brudstykker af den. Det er sjovt at se de offentliggjorte indikatortal i Notat Nr.1166 den 10. marts 2006.

Det hævdes bl.a. at beskæftigelsen, defineret som ”antallet 15-64 årige i job i forhold til det samlede antal i denne gruppe”, skulle være den højeste i Danmark nemlig 75,7 pct. – hvilket betyder officielt 24,3 pct. arbejdsløse, udstødte, under uddannelse og førtidspensionerede. Der er langt ned til Holland på andenpladsen med en beskæftigelsesprocent 73,1.

Tyskland og Frankrig finder vi helt nede på henholdsvis en 11. og 13. plads, og Spanien, som vi lige har hørt om skulle ligge meget højt, indtager en 18. plads. På plads nr. 25 ligger Polen med beskæftigelsesprocent på 51,7, d. v. s. lige knap halvdelen i landet med 40 mill. indbyggere er ikke beskæftiget i aldrene 15-64 år. Det ser ud til, at være det vi skal dele med dem i de kommende år. Går vi lige til de private investeringer, så skulle Danmark angiveligt ligge på en 13. plads. Og her skulle Spanien indtage en 3. plads….

Skal vi gætte på Irland og Tjekkiet med de lave skatter måske indtager 1. og 2. plads.

Vi kan ikke bruge mere tid på denne højest tvivlsomme EU-liste, der af gode grunde forsøges holdt skjult.

Hvorledes Euroen virker beskrev jeg i 1997 forud EU-folkeafstemningen på: (det slog til):


Hvorledes “den såkaldt hårde” Euro i dag knuser resterne af et realøkonomisk efterhånden svagt Europa:




500.000-600.000 flere indvandrere pr. år til Europa :


2. juli 2006

Joern E. Vig, cand. oecon.

Collapse of the Agriculture Bank

Enron, Worldcom a.o.
deja vu a lifetime earlier in Denmark

(short version) Danish version

We are not dealing with Denmark, but with an imported theme of international relations. They say history do not repeat. What about the human abilities that had not changed much for the last 2500 years. History has to repeat then, when we do not listen to the ground and learn from history.

The scandalous Collapse of the Agriculture Bank1923 throw an expected shadow on today

 Do you really think that selling of deficits, surplus capitalization of disappearing profits and speculation earnings have changed since 1923. They never change, just like the people that never change to the better.

The Danish newspaper Morgenavisen Jyllands-Posten February 22th 2002 report in an article “Enron tempted top-politicians” shortly what happened through the years with Enron. “Influence on politicians, Democrats as well as Republicans, so they did not control financial operations by the rules. Coded smart letters in a friendly tune and good fees. No government interference in the market of derivatives: To hide debt and created surplus in the accounts were their objectives.

The collapse of Enron December 2nd 2001 was caused by the trade with empty derivatives. The financial world especially re-presented by Citibank with Robert Rubin, the material energy manufacturing-firm Enron, and the politicians, especially the Secretaries of Finances had to play dominant roles all of them to succeed the adventure for a few. About a dozen of investigations in the Congress.” Has it happened before. Of couse it has. Nothing has changes in the brains of people since Plato’s Carve Parable 2350 years ago, I told you.

The dirty tricks might alter slightly like the language, and some of them may just develop to something more so-called advanced/sofisticated, but generally nothing has changed.  

A lifetime has gone, and everything has been forgotten, if nobody writes about things, and (notice) they get it published. 

Denmark 1923: 

The Extraordinary Commission  (Did anybody say Enron, USA?): 

The Danish Agriculture Bank was established by Gottlieb Abraham Gedalia 1873. Gottlieb Abraham Gedalia[1] went bankrupt in 1875. After the collapse of the Agriculture Bank in 1923 and Emil Glückstadt’s end, the character of the bank changed once and hopefully for ever. A. P. Moeller (later Maersk Moeller) became the deciding shareholder directly, and through the years also more and more the dominating via companies own by A. P. Moeller.  

On the other hand when we look at the period 1900-1923, the official Danish history writing is certainly not fully correct. It is very piece by piece and rather diffuse, and also directly misleading and defective. The objective of the Extraordinary Commission was to make good the lacks and irregularity of WWI, and of the after war period until 1921. Here you have to remember that unrestrickted u-bout-war, and the extented blocade from February 1st 1917 created a not durable situation for both Danish businesses and consumers.   

During the next (or the same) war WWII “the Counsel of Price Control and Goods Supplying“ which name must be more denoted, was established. The economic secretary-cases of the commission were done by the later economic-director Holger Roed (from which these lines originate), and later chief of office in the Great Nordic Company B. Gloer-felt Tarp. With a wider working area the secretary had to be extented with later Judge of Country T. Spang Hansen and later chief of office in the Ministery of Foreign Affaires Hans Jacob Hansen. When you take into consideration what manning according institutions were established with, it seems rather admirable. The Commission was then placed in the Zahl-Chamber Gateway that is the connection between Christiansborg and the red building.

The head of the Triumvirate which was the members the business committee, and which managed the work of the commission was Consul Lauritsen, of other members in the Commission can mentioned Professor L. V. Birck, Chief-editor (later minister) Hauge, Niels Frederiksen, Jens Klejs and the leader of the industrial sector Alex Foss, who also was a member until 1918. Already in 1916 Birck had strongly criticized the surplus capitalization  and the manuovres of the exchange that the union of Ballin and Hertz made of 10 shoemanufactories to A/S (limited) the United Shoe factories. Not just the stock capital was valued unrealististic high to an amount of dkr. 8 mill. (1916), but the owners of the businesses up to then were held out of a prospect of the new shares in the union which they were about to take over instead of the old ones that would be sold at a price 200. The price was driven up to 300 in the union, before the emission a new emission of the stock capital appeared. About the emission is written later (1923) in the account of the Commission of Agriculture Bank: 

“The atmosphere was prepared, and when just dkr. 2 mill. was supplied (at 110%), there was a run on the Agriculture Bank to buy stock/shares. In Emil Glückstadt’s correspondance are several letters from known supplicants trying to get the possibility to join. Before the emission the shares were sold at a price 300, so people lined up to get hold of the dkr. 2 mill.

The amount was overscribed 100 times, 2,700 individuals put down their names for larger or smaller amounts. 400 individuals got the dkr. 2mill. shares, and just the most favoured got more than d.kr. 10,000. Of the dkr. 2mill. Max Ballin himself took over dkr. 750,000 plus 20,000 that he possible gave away among his friends. On the other hand amounts of more than dkr. 20,000 were just given in so-called grace of humility to people, who was closely connected to Glückstadt, Ballin or stockholder I. M. Levin, or those according to their posts were friendly turned. By checking the list of beautiful names that were interested in the maintenance of the price, you will understand what a capital offence it must have been to criticize this emission.” 

Now you do not have to especially notice the amount in millions very much. These can certainly not be compared with some amounts of millions of today. To illlustrate which amount were presented in the units of connecting then, I can inform you that in the year 1900 there was totally dkr. 100 mill. in notes circulating in Denmark. In 1914 the circulation of notes was dkr. 140 mill. 

The prices of the supplied shares fell however, and a few years later they reached 160. Something had to be done to keep the price up, and the expedient was the great union of 1918 that lacked however technical and economical idea, but introduced rumours of exchange and price rising for the shares of the three single companies, and a few millions of earning to a consortium. L. V. Birck proposed a powerful critic of this union. At the negotiations of the relations of the line that then began in 1918, there was fertile soil of a powerful contrast and intrigue between Birck and Ballin. Birck was denounced by the connections of Ballin in the whole Copenhagen press. 

The waves went high and at an occasion it almost came to a directly physical confrontation between the two gentlemen. Max Ballin belonged to the circle of speculators that were collected round the Agriculture Bank and the stockholder I. M. Levin & Co, and his dead by his own hand in April 1921 after an enormous unsuccesful speculation in chevreauskin turned the price on the Agriculture Bank shares/stock to stagger. In the period of swindle after the first world war the light and dexterous councillor of state Emil Glückstadt was the leading figure.

Through order of succession he was as 35 years administrative director in 1910 in the biggest bank of the country, the Agriculture Bank. In the worldwar and in the after war period he collected a closed circle of speculators of the exchange and case-makers around himself and the bank. They were people who unworried calculated with the boom of the war period to be eternal, and who in their valuations capitalized incomes of years that just were based on this boom. The hausse-speculation flourished. The Agriculture Bank (AB) and its circle surely was the biggest capitalistic concentration of power that our country had experienced until then. If there ever has been a third-parliament, it has been while this court was dominating our economic life.      

Not just within its own circle, but also in the press and with that in the public consciousness Glückstadt was looked upon to be a man of finances in the format of the world, whom everything succeeded: The government used him in an important mission: The order of the financial relation in connection with the Re-union[2], the Conference of Finances in Brussels. For the League of Nations he investigated the finances and Austria in 1921.[3] The Danish Central Bank looked upon his greatness, with humility, the press prostrated itself under his power. Partly some big industry and some business enterprises among AB and Ballin’s leather and shoe trust and partly a line of stockbrokers and syndicates of speculation that were run by Harald Plum, and of which Glückstadt became a President, were closely related to the Agriculture Bank. (Harald Plum’s) Transatlantic Company that had a net of branches all over the world was a typically expression for the reckless dreams of greatness that then had the objective to make Copenhagen the emporium of the Baltic Sea, to a justification for world trade after the destructions of the war (WWI). While Glückstadt still remained on the top of the power and of the ho-nour, Birck made his attack.  

At the general meeting of the Transatlantic Company June 10th 1922, where the account for 1921 was presented with a proposal of liquidation or a transfer to a new company against a payment of 15% to the share-holders, Birck leveled at a strong and detailed critic against its organization that was a system of boxes, its bad and expensive administration, and its trade that was characterized by a chain store, and that did not give any profit. On the reason to the crash the president of the general board said: ”The states of the market”. In the good years: “the ability of management, in the bad years: God is to blame.” At the end of his speech Birck turned directly against the chairman, titular counsellor of state Glückstadt, when he said: 

“It is not against titular counsellor of state personally that I appear, but against his fateful system of finances that yield interest to the big capitalization, forces the one industry after the other out in businesses that have to destroy them. This financing is a parasitic plant in the Danish life of businesses, and when you include lack of will to pull in, the result has to be, as we have seen it where titular counsellor of state Glückstadt walk on with his art of finances, there will never grow grass again. You, counsellor of state Glückstadt, is a great man of dimensions according to the voluminous reports for 5 years of the Copenhagen Press, dimensions that almost burst the economy of our poor little country. You have power and connections, and there, the Danish business life and there, the Danish industry lie weakened and destroyed caused by your finance policy, and your unwillingness against making the final account. That sound and new business cannot get the needed capital, because it shall be used to hold up values that already have disappeared; this is your honor and responsibility. Yes, assuredly you are a great man! Now it ends with this firework: for dkr. ½ mill. buy of a deficit that has been stated to dkr. 3½ mill., but after my judgement is dkr. 8½ mill. It is a pretty nice ending for the stockholders, but to the Transatlantic adven-ture itself, for the concern and perhaps to yourself it is not the end, but just a postponement, a respite.”    

The commission of the Agriculture Bank of September 21th 1921    

One month later the first reconstruction of the Agriculture Bank, the first crash came, where the state had to take charge to save the bank. Hardly urged by the public opinion, the government had to induce a commission by a new law to investigate the matters of the bank, especially about the cause of the economic difficulties of the bank by the law of September 21th about the state’s interacting. 

The Commission was also arranged as an extraordinary court. It got to consist of Country Judge Rump (as Chairman) the Bank Inspector Green and Professor L. V. birck. To the public that claimed a profound investigation and explanation Birck had to be the one, who’s name secu-red that this claim would be fulfilled. 

Shortly after the establishment of the Commission later Economy-Director Holger Roed was appointed to assist Professor Birck in the Commission. Of the other members of the Commission E. Kaufman, T. B. Riber, W. Juul and also Laywer of Impeachment Topsoe Jensen assisted by Accounter N. F. Torner, and Public Prosecutor Viggo Thomsen assisted by Accounter Axel Andersen and later director in the Agriculture Bank Poul Ingholt who as Managing Clerk in the bank had been appointed to secure procuration of materials from it. 

The Commission got its rooms in the Agriculture Bank, in the last floor of the so-called Groenske estate, a narrow house that is placed beside of the real building of the bank. Here Glückstadt had got a little flate-a-terre of just a few rooms, and in these rooms the Commission and the clerical staff arranged them selves. In very busy periods the bath-room was also confiscated as a room of the office.  Hardly any other task has suited Birck more than the one that had to be solved, and he felt it like a personal responsibility that it was solved pro-found. His earlier critics obliged, he had yet another article between the phases of the reconstruction, titled “Former Director Emil Glückstadt as a Bank Manager” (before Glückstadt became “former”), publicly given an estimate of the lacks in the bank direction that lead to the misery that then had not become a catastrophe yet. Here Birck just had a big and wide hunting ground for his own flair toward swindle of any kind, but also a large material for economic studies of the development in a hectic boom. Here was a foundation of the interaction that was characterizing Birck as a macro-economist.  

Birck threw himself into the work with a violent energy. Characterizing for him was that he succeeded just with a single deputy to help, the first week on that basic of the existing official accounts and re-port to clear up threads and the losses in swarms of reciprocal infiltrated companies of the Harald Plum concern. The result was elaborated, but not substantial corrected, at the later detail investigation. In those later investigations the parodic system of trade between sister and daughter companies was made clear, a system, which business madness was culminating in “the right of” every involved company to send unordered goods in consignment to every one of the other companies and to draw the bill of the amount.

The goods were made more expensive by this, with more freights and calculated profits, and they was send from destination to destination at still higher prices, which made the losses camouflaged – when sold to an outsider at a spot price -, when the prices increased at the world market. When a lot e.g. was chartered three times over the Atlantic Ocean befo-re it was sold, the loss had grown according to this. The total loss for the concern as well as the there off floating loss for the bank had to be written down with a nine figured number in the end.  

[Today you have to write it down with 12 figured numbers] 

With the same lust of action Birck began the treatement of the relations in a line of steam ships, in the shares of which substantial and strange speculations had been running in the bank; of the relations of the bank to state-loans, and of the clearing up of the interior development in a line of industry- and trade companies that figured as deficit debitors in the bank. A profound investigation was made of the relations in the Ballin concern. It was among other things documented that Max Ballin and his co-director Hugo Rothenberg permanently had had a large amount of speculating in their own stock, besides they had participated in a lot of other speculations, resulting in losses of dkr. 6 mill. in the firm of stockholders I. M. Levin & Co from which the loss ended in the Agriculture Bank. Point by point it was proven how the consideration of the stock-prices had been the leading fact in their transactions with the customers of the firm.  

Birck supplemented to an extensive degree the information of the reports of books, of the ledger of correspondance with conversations with leaders and the clerks of concerned firms, and came in this way much closer to the motives that had been deciding for the transactions, and the individual relations of which the books told nothing. From the members of clique we experienced via Birck’s words: “If I mention the gentlemen, who are placed in more than 10 boards of directors of companies: C. C. Clausen, Max Ballin, Alfred Benzon, Benny Dessau, Hey, Johan Levin, Lester Levig, Ringberg, Schack Eiber, High Court Laywer Olesen a.s.o. or to mention those who made the record, Bank Director Emil Glückstadt, who took seat in about 40 companies, you will understand that it is the same men we meet all the way through, wearing different hats but with the same temper. 

Financial News (Finanstidende) wrote 1922: 

“This clique that has ruled the country and the people for these years, was like a club of the intimated. Its participants shared the posts of the board of directors, the commissions of profits, speculation earnings, power, and influence between itself with much mutual envy but with a tacitly understanding of, in this way they all profit most of the office.” 

Concerning the bank correspondence and the telegram correspondence of the direction of the bank were of importance to the understanding of a lot of things. It was pretty difficult to get into, because the firms and the individuals often were named with clever rewritings or fantastical nicknames. The titular counsellor of state on the other side of “Niels Juel”[4] was named the elephant that gradually was shortened to “the trunk” that one single time changed to “the Snoebel” [5]. The chairman of another of our big national businesses was named “the Fool”, and so on. It was a great pleasure for Birck to guess these riddles. Some two feet long exchanges of telegrams seemed for a time incomprehensible.

They were about the weather and the wind, heath and seasickness and various kinds of accidental talk, held in a incomprehensible jargon to very well understanding ones. It lasted some time, before it was clear that they included no valuable information or another language of code that had to be decoded, but just were, what they seemed to be. Birck could not image that anybody should use that expensive foreign telegraph connection to such an idle objective. In the bank as well as to its circle of debitors it made such a great damage that the share/stock prices on the favorite papers of the circle were manipulated via syndicates spreading rumours that the papers were going to increase.

Glückstadt and his co-director Ringberg were the leading figures in these syndicates of speculation, who’s participants often were known just to them personally, by not to the bank as such. After the result of the speculation, it could be decided, if it was the directors personally or the bank or the company in question that had been participant in the syndicate. 

With this it became easy for individuals to get rid of the losses, when the prices went down, while the profit to all of them was sure. Glückstadt had a good allround bank education, here and abroad. Ringsberg’s conditions to fill his post did not go further than what he had experienced in a stockholder’s office (I. M. Levin & Co). Both of them were without profound economic knowledge and understanding. In these years the companies had to stop their activity one by one and claim liquidation. But the personal solidarity between the managers were strong, and often they succeeded as friends to get the directors in destroyed companies placed on yet other leading posts, regardless how unskilful they have shown themselves to be.

This flight from responsibility among the managers while the shareholders, clerks and the workers had to bear the burdens by losses and unemployment outraged Birck, who draw up the text to a standard telegram (to a shipowner), who he with respect quoted everytime a new case of this kind appeared. It went like this: “The ship went down with man and mice, but thank God, the captain was saved.” Exactly in this period of Danish policy the Radical Party enjoyed (an economic contribution) via director Heilbuth that among other things made the foundation of the rise of the Danish newspaper Politiken. Heilbuth gave the Radical Party dkr.1 mill. that had been earned by speculation, and of which he, when the crash the Agriculture Bank came, owed very large amounts, properly much more than 1 mill. Politiken was financed in this way by the swindle of the Agriculture Bank. 

On different occasions powerful effort were shown to stop or limit the investigation. Not just the influential were interested in this, but also at other deciding factors hesitations rose about the amount of the possible effects of the unveiling that were foreseen. Contributory to this surely was that the transactions concerning a syndicate of the cable-shares that later on implied a sentence of fraud against the industry man H. P. Prior, was meant to be played into the hands of the Commission from the side of the bank rather early in the investigation. You could not refuse against the view that this manoeuvre that was meant to frighten: Would the whole top be cut off from the business life by continuing investigations? Could “the distinguished men’s union” take the slaughter that eventually would come? Birck succeeded to prevent the attacks against the continuation of the work. 

The essential to Birck was to seek correction of the economic mistakes that lead to catastrophe, while Rump laid the main emphasis on the explanation of the criminal law. After Rump’s opinion the investigation was concentrated on relations in the bank itself, against which Birck would have investigation carried on to the debitor of the bank to find out why the bank had losses on its outstanding debt. This difference of opinions concerning the size of the work of the com-mission lead to powerful exchanges of view at times, and the form of these investigations were surely effected by the two fighting parts being as unequal as possible in the their lives of spirit as well as in their ways of life. By these exchanges of views about the size of the investigation Birck did not mince his words. In this way he once chocked the respectable Country Judge by naming him “as a jurist, who is advanced caused by the law of gravity.”    

Birck showed a tireless work in the whole working-time of the commission. Had he started a case, he rather continued without any break as long as possible. A substantial part of my work with him became working at night, often until the first streetcar reminded us that it was time to get rest. The report above was told by one of the central figures of the commission (Holger Roed) 30 years after the Commission of the Agriculture Bank ended its work. He was himself a primarily source, therefore this is a secondary source. Birck resigned from the Commission of the Agriculture Bank as a tired and disappointed man. The cleansing he worked for did just partly become reality. For example could Harald Plum, who got a sentence that of the public opinion was perceived as poor acquittal, continue his business with Crown Butter, and not until the shot on Thoroe October 24th 1929 the period was made for his business, whereafter his fraudulent transactions did not let themselves hide. But in many felts the cleansing was not lead long enough, and profound enough, and years had to go, and further blunders had to be made, until the matters were becoming better. The time showed Birck was right in his views. 

1933 Lauritz V. Birck meet death 62 years old, the quick dead he always had wanted to have. A central point that inspired me to tell the story was that Birck was promised to publish his results, but the state still was dependent of the swindles apparently. So no publication was possible. Even to day you cannot get the full report of his investigation. The libraries still refer the descendants who might suffer from a publication.  

79 years later I still meet ordinary people who’s parents were swindled by the complot without knowing, what was really going on then, and when you look to USA, you will find the Enron scandal and soon a lot more with a story much like the one I just referred to in extracts. And they say history do not repeat, what about the human abilities that had not changed much for the last 2500 years. History has to repeat then, when we are not allowed even to learn from it. 

Does a metallic standard prevent these events:


More paper, more gold and the private limited company:


A new international monetary system (extended version):


Footnotes: [1] Saddler and speculator of the exchange ”Baron”, and of the most unhealthy statures of the exchanging. 

[2] The President of the Danish Central Bank (Danmarks Nationalbank) a radical historian Marcus Rubin wrote in 1891 :”…fools in Denmark and people without any influence hope for a Re-union (mine: of North Schleswig with Denmark)…In Denmark you have registred 1864 as a historical reality (mine: Germany took North Slesvig in the war 1860-64). I can’t tell you if this Rubin is family to well-known one in one of US-scandals of today. 

[3] When he should have stayed in Denmark …if he worked in the interests of the Danes, as you shall see and judge for yourself. 

[4] A statue of the Danish Sea hero Niels Juul that indicated the geographic position of the firm he ruled. [5] Rewriting of “Snabel”, the Danish word for “Trunk”, and at the same time “the Snoebel” is a lighter degrading designation in Danish slang of a word close to swindler.



Filed under: Economics, History, Justice — Tags: , , , — Jørn @ 01:52

Et kort resumé

 Af J. P. Fisher Hansen 

I 1989 aftalte 4 direktører i de 4 største datterselskaber i Kosan-koncernen (deriblandt undertegnede), at vi skulle foretage et såkaldt MBO (Management Buy-Out), hvor vi skulle købe vores moderselskab. I den forbindelse blev der indgået en aftale (Aftalen af 21. marts (kaldet Rammeaftalen i tidl. bind)). Det aftaltes, SDS skulle rådgive os og låne os penge til købet. Da Kosan havde mange skjulte værdier og de daværende ejere ville sælge relativt billigt til os direktører, besluttede SDS at bruge os som stråmænd og købe Kosan selv. Kort tid efter købet var Kosan-koncernen strippet fuldstændigt og stort set alle datterselskaberne var solgt fra. Dette tjente SDS naturligvis en stor bunke penge på, men da det var klart i strid med aftalen, gjorde vi direktører naturligvis vrøvl.   

Den ene af direktørerne (Mogens Petersen) skiftede på et tidligt tidspunkt hest og er i dag medlem af Unibanks bestyrelse, den anden (Erik Thygesen)skiftede (senere) også side, men støtter banken. Den tredje direktør (Robert Storm) blev afskediget inden nogen nåede at opdage, hvad der i virkeligheden var sket.. Han kan p.g.a. tavshedsløfte ikke udtale sig om Unibank eller sagsøge dem. Jeg nåede at gå til pressen inden, jeg led ikke samme skæbne som Storm, hvorfor jeg i dag ejer det Kosan datterselskab, som jeg var direktør for. Samtidig kæmper jeg på 8. år for at få min del af overskuddet fra Kosan-stripningen.   

Fra Finanstilsynet var der desværre ingen hjælp at hente, da tilsynet er i lommen på de store banker. Selvom Erhvervsankenævnet i 1996 udtalte, at der ikke var givet nogen bæredygtig begrundelse for, hvorfor MBO’et ikke blev (forsøgt) gennemført, samt at Finanstilsynet eller Økonomiministeriet burde foretage en tilbundsgående (granskningslignende) undersøgelse af Kosan-sagen.   Samtidig har jeg stævnet SDS (nu Unibank) ved Østre Landsret i 1994 for at undgå den 5 årige forældelse. Landsretten afviste imidlertid sagen, p.g.a. en voldgiftsklausul i en aktionæroverenskomst, som banken på et tidspunkt, hvor den var næsten 100% ejer, dikterede overfor os direktører. Denne afvisning er nu anket til Højesteret, som stadig (december 1997) behandler sagen.   

Desuden har jeg indklaget Finanstilsynet og Økonomiministeren for Folketingets Ombudsmand, bl.a. p.g.a. deres mangelfulde undersøgelse af sagen.   

København Byrets Afdeling J
blev sag nr. j.-1006-94
kun enkelte brudstykker er medtaget:  

Denne sag drejer sig om, hvorvidt sagsøgeren Søren Kofoed Nielsen, kan kræve erstatning fra Sparekassen SDS A/S, nu Unibank A/S, for sagsøgers påståede tab i anledning af, at dennes aktier i Kosan A/S i 1989/90 blev tvangsindløst.   Dom THI KENDES FOR RET: Sagsøgte, Sparekassen SDS A/S, nu Unibank A/S frifindes Ingen af parterne betaler sagsomkostninger til den anden part eller til statskassen.    Bemærkninger: Henset til sagsøgtes retsstridige adfærd i relation til deponeringspørgsmålet, finder retten, at sagsøger har haft rimelig grund til at indlede retsforfølgning.   


Ingen af parterne betaler sagsomkostninger til den anden part eller til statskassen.   Da medarbejderrepræsentanten fik beskikket advokat, betød det, at i modsætning til Unibank A/S slap medarbejderrepræsentanten for advokatudgifter.   

Efter vidneafhøringer ved Højesteretssagen var afsluttet i januar 1998 traf Højesteret på anmodning beslutning om, at der skulle være skriftlig procedure. For sagens opklaring mener jeg, at det er en stor fordel i en omfattende sag. Ved den mundtlige procedure er det vanskeligt at sikre sig, at ens advokat er orienteret om alle forhold. Ved en skriftlig procedure kan man med megen større vægt fremlægge sagen med henvisning til relevante bilag. Indstævnte SDS/Unibank udarbejder herefter sit første indlæg. I mit andet indlæg tilbagevises påstande i SDS/ Unibanks indlæg. Det har her været af stor betydning, at der har været god tid til at gennemgå materialet, så tilbagevisningerne er dokumenterede. SDS/Unibanks andet indlæg bærer præg af, at bankens advokat har problemer, som han mener at kunne løse ved at indkalde et nyt vidne. Ved de allerede gennemførte vidneafhøringer er det kommet frem, at samtlige fire direktører troede, at de var købere af Kosan a/s, så vi er alle blevet ført bag lyset af SDS/Unibank og Marianne Philip. Uden at kommentere SDS/ Unibanks ønske har Højesteret den 25. september 1998 optaget sagen til dom.   

Fortsat bemærkninger:   

Advokat Marianne Philip har – modsat appellanten – været bekendt med, at SDS havde registreret sig som 100% ejer af det købende selskab Kosan Holding A/S.   

Det var således velbegrundet, at Erhvervsankenævnet i sin kendelse af 14/10 1996 udtaler: “Det fremtræder uklart for Ankenævnet, hvem Mariannne Philip har repræsenteret under sagen.”   

Aktionæraftalen er således efter appellantens opfattelse ensidigt konciperet af indstævnte og dennes advokat Marianne Philip.   

Højesteret har stadfæstet Landsretsdommen på tvivlsomt grundlag. Dommen er derudover refereret fejlagtigt i Ugeskrift for retsvæsen. Se i det følgende, hvorfor.   Højesterets afgørelse af formalitetssagen vedr. Kosan-Sagen fremgår af UFR Nyheds- Service:”Voldgiftsklausul i aktionæroverenskomst omfattende de foreliggende tvister.

Nyt andragende ikke tilladt fremsat”. Retspleje 261.3 og 28.1

Med henblik på køb af moderselskabet i en større koncern stiftede pengeinstitut P og 4 direktører i datterselskabet i koncernen et holdingaktieselskab. Købet fandt sted i april 1989, og juni 1989 indgik deltagerne i holdingselskabet en aktionæroverenskomst, der indeholdt en voldgiftsklausul. I 1994 anlagde en af de 4 direktører A retssag mod P med påstand om, at denne var erstatningsansvarlig for forskellige dispositioner i forbindelse med overtagelsesprojektet. A anførte bl.a., at P havde fraveget en rammeaftale, som parterne havde indgået i marts 1989. Der fandtes ikke at være grundlag for at antage, at aktionæroverenskomsten først skulle træde i kraft, når institutionelle investorer som planlagt var indtrådt som aktionærer, og det fandtes ubetænkeligt at lægge til grund, at de foreliggende tvister var reguleret af aktionæroverenskomsten og således var omfattet af denne voldgiftsklausul. P’s påstand om sagens afvisning blev derfor taget til følge. Et først under den skriftlige procedure for Højesteret fremsat anbringende om, at aktionæroverenskomsten var ugyldig, blev ikke tilladt fremsat.

 J. P. Fischer Hansens kommentarer:   

Det forekommer mig, at der er opstået nogle forståelsesproblemer i forbindelse med den aftale, jeg indgik med SDS den 21. marts 1989 om købet af Kosan a/s og den senere underskrevne tegningsliste og aktionæroverenskomst.   I henhold til aftalen af 21. marts 1989 §3 er jeg aktionær i det købende selskab af Kosan a/s, og ud fra denne position skulle der udarbejdes en aktionæroverenskomst. Den i aftalen af den 21. marts 1989 §8 omtalte aktionæroverenskomst har intet med den aktionæroverenskomst, SDS senere krævede, at jeg skulle underskrive.   

Hverken den under tvang underskrevne aktionæroverenskomst med løfte om, at jeg kunne blive aktionær i Kosan Holding A/S, som jeg burde have været i henhold til aftalen af 21. marts 1989. Først i juli 1989 bliver jeg aktionær i Kosan Holding A/S.   Alle SDS’s manøvre skulle kun tjene det formål, at skjule SDS’s aftalebrud og ulovligheder overfor offentligheden og myndighederne.   

I stedet for at Kosan-Sagen kunne behandles for åbne døre i en retssal, er den indbragt med begæring om voldgift for lukkede døre.    

Resume af J. P. Fisher Hansens egen redegørelse slut  

Tillæg af  IoD: 

Herefter følger link til Information om Danmarks side:

Hvordan selskabstømning kører i almindelighed

Opsummeringen af enkelte nyere finansskandalerne med Finansrådet i central rolle (til sidst i):  


Landmandsbank-Skandalen, Færø-Sagen o.a. i mere livgivende lys  

Om bl.a. holdingselskab:Kapitaliseringsprocessen bliver gjort lettere med systemet med holding- eller trustselskab og datterselskaber. Et holdingselskab ejer aktiemajoriteten i f.eks. en papirtrust og en cellolose-trust og eventuelt tilsvarende i avistrust og en papirmaskinetrust. Hver trust har ofte flere fabrikker, men deres vigtigste formuegode er majoriteten af aktier i hver fabrik, der igen er i stand til at sikre majoriteten i hver af de produktionsmæssigt tilstødende industrier eller bare den samlede aktiemajoritet i de af industrierne, der køber deres produkter. Systemet var mest udviklet i Sydafrikas mineindustri, hvor man tit fandt en 4-5 leddet organisation. 3-4 selskaber forhindrer folk udefra i bare at lave et groft estimat på værdien af aktierne i de producerende selskaber. Kapitaliseringsprocessen forløber nu uden en bare fornuftig indsigt/indblanding fra omgivelserne. Den danske parallel til John Law’s Mississippi-selskab er uden tvivl det Transatlantiske Selskab, der gik bankerot og tog Landmandsbanken med i sit fald i 1923:  


Se i øvrigt om holdningselskabet og dets fremkomst: