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The Folding Cyclist
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Vintage European folding bike postcard

Below is a scan of a postcard published in the early 70's by Krüger, a West German company, known for their risque postcards throughout Europe.  The woman is Susan Shaw, a British pin-up model.  The folding bike is an Italian made Amica by Carnielli, shown in the second photo below.

Susan Shaw on an Amica folding bike 

Amica folding bike