Vinegar. It works. It is cheap and safe.Take the bike apart, then submerge the frame & parts for 24 hours or so, wash them off with water then vigorously wipe down with a rag. Blow off everything with compressed air to keep it from rusting up immediately. Hasn't damaged the paint on anything I've used it on. Don't get it in your eyes.
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Michael Shiffer
EuroMeccanicany.com