Title: Mcgowanjm Wire 2012 Source:
[None] URL Source:[None] Published:Feb 26, 2012 Author:Various Post Date:2012-02-26 09:15:13 by A K A Stone Keywords:None Views:1371664 Comments:2390
There's nothing new about the right way to restructure a bankrupt company; it's been done a million times. But it's done not this time, not in Europe and not in the US. As a result, the whole banking system is now a $1 quadrillion zombie system, held up by zombie money that is injected into it in our name, no matter that if we don't have it. And our grandchildren will be born with a million dollars or so each in debt right from the get-go. And well tell them we love them, and believe ourselves when we say it....
All of which is why maybe we should look forward to a Syriza victory in the Greek elections, or to Finland leaving the Eurozone. Just so the idiot emperors and the idiot clothes they don't wear are revealed as the zombies they are.
The banks that are kept alive with the zombie money will use it to do what they will - rightfully, in the present economic model - see as the most profitable thing to do: bet against, and ultimately bring down, the very system that has "saved" them. This is how perverted the entire scheme has become. The money taken from you by your "leaders" will be, and already is, used to bring you to your knees.
Its sort of like one of those autoimmune diseases, where the body attacks and kills itself, using its own defenses, isn't it, a kind of zombie disease? Then again, at least we seek to cure those .....
There's nothing new about the right way to restructure a bankrupt company; it's been done a million times. But it's done not this time, not in Europe and not in the US. As a result, the whole banking system is now a $1 quadrillion zombie system, held up by zombie money that is injected into it in our name, no matter that if we don't have it. And our grandchildren will be born with a million dollars or so each in debt right from the get-go. And well tell them we love them, and believe ourselves when we say it....
you are making sense.
what slipped into your wheaties jim? whatever it is keep some around:)
E-mail Print PDF Wednesday, 23 Rajab 1433 Wednesday, 13 June 2012 08:56
image PARWAN, Jun. 13 According to the latest news as many as 40 US-led invaders and local puppets have so far been killed and about two dozens injured as well as 2 armored tanks and 3 rangers vehicles being destroyed in the battle unleashing
Wednesday morning in Siyagard district of Afghanistans northern Parwan province and is still underway.
Mujahideen officials say the fighting broke out after the combined invaders and minions joint military convoys of about 300 tanks and military vehicles got caught in Mujahideen ambush at about 6:00 a.m. local time on the outskirts of this district. A new report indicates that the fighting is still going on, besides the fatalities caused to the enemies, more than 20 of the joint enemy soldiers have been deadly wounded.
what slipped into your wheaties jim? whatever it is keep some around:)
Here's some of what you've been missing, e....
#1167. To: All (#1166) (Edited)
Finance channels are saturated, debt is unproductive. All new debts taken on are to service old debts rather than afford goods and services. Debts are dead money: the only way to retire them are by way of Ponzi schemes and loan-shark lending. Borrowers cannot find lenders because all sources have been tapped already. Lenders cannot find creditable borrowers. This was the entire point of globalization, to tap all sources of world capital, benefits lasted only until global demand for capital ballooned to consume it.
#1209. To: e_type_jag you are making sense. All (#1208)(Edited)
you are making sense.
Arctic passes 400 ppm CO2....never mind about Climate Change....nothing to be done now....;}
Recently, the National Oceanic and Atmospheric Administration predicted that this summer would be consistent with this past winter that wasnt that is, hot. I double-checked by looking at the data from the Arctic. As expected, ice melt was accelerating faster than average.
A few days after that confirming data came through, Jon Gottschalck, head of operations of NOAAs Climate Prediction Center, said, Theres definitely a tilt toward being above normal (temperatures) through the summer. Records we dont want to break
From other NOAA agencies came the conclusions that last year the United States underwent the hottest 12-month period ever recorded. This continued through the first four months of this year, clocking in the period of May 2011 through April 2012 as the warmest on record. Another record continued to be broken also For 326 months in a row the monthly temperatures have been hotter than the entire 20th century average. Thats almost 28 years of data.
What Jesus said was, "Nicodemus, marvel not that I said unto thee, all of you need to be born again." This is very important. Not only Nicodemus needed to be saved. But everybody, including him, needed to be born again. That's why Jesus used the plural. www.chick.com/ask/articles/nkjv.asp
Ah a Jack Chick fan. Me too. Here is the latest HTML: click on arrow to load.
As iron sharpens iron, So a man sharpens the countenance of his friend. -Proverbs 27:17 (NKJV)
"the ruling class is the ruling class because of their magnificent virtue and hard work. They deserve their privilege, power and wealth. And you? If you can't manage to pull yourself up by your own bootstraps -- even though the last bootstrap was destroyed a generation or two ago, and even though you are unable to grasp a bootstrap or anything else since the ruling class cut off your hands -- well, you deserve to die."
Arthur Silber
Here it comes.
The rulers will first try to steal the Election,
then they will try to manipulate it,
then they will try to buy off the winner, or coopt him/her....;}
if when that fails they will go callously brutal on the Bottom 99%'s ass....;}
"The immense psychological toll and the sense of desperation are further underscored:
Highly educated young people are desperate to emigrate. Families are putting their property up for sale to pay debts. Banks long ago stopped lending. Casual conversations between friends end in tears."
Still, I doubt the refusal to give up on the failed myth will be limited to North Carolina politicians, San Francisco New Age aficionados, and avant-garde publishers.
I suspect, rather, that the refusal to recognize and deal with the end of progress will become a massive social force in the decade or so ahead of us, and that the great divide in American society
during those years will not be the one between left and right, or between rich and poor, but between those who have accepted historys verdict on our fantasy of perpetual progress, on the one hand, and those who cling to the fantasy despite all disconfirmations, on the other.
Since refusing to recognize the fact of decline is a good way to get clobbered over the head by one or another of that facts manifestationsa point that the inhabitants of coastal North Carolina are likely to find out the hard way one of these daysthose who choose the path of denial may be in for a very rough road indeed
" But the child was taught that facts, logic and argument don't matter. What matters is obedience, including obedience to the edicts of one's own tribe. For the Nazis, the enemy was Jews and other designated groups.
For us, it is "terrorists," a term used without regard to evidence or specific meaning. But as devoted, obedient tribalists, we know that "terrorists" are bad. We know they mean to kill us. So we need not wonder what the answer to my earlier question is.
About the mother's lesson in the story, and what she taught her son must be done about the despised Other, I asked: If all else fails, what do we do? "Eliminate them?"
In reply to the urgent prompting of government propagandists, most Americans enthusiastically scream: "Yes!!!"
According to the Ruling Class USSAMSM, you'd think there was absolutely nothing going on this week end:
" I wrote about hideous spectacles of this kind in a lengthy piece a year ago: "Caught Up in Nightmare: Killing Jack Rabbits." Here's one pertinent passage:
If we broaden our perspective, and if we look beyond particular developments and attempt to grasp what is happening over a longer period of time,
the nature of the horror that awaits us takes on a clearer shape: The West's ruling class is embarked on a program of killing and elimination. A general caution should be kept in mind.
I'm not suggesting that this program is one that the ruling class has explicitly identified, even to itself, at least not necessarily. The ruling class is intent upon increasing its own power and wealth; in one sense, that is its only concern.
I suppose, in some fantasy world, the ruling class would be content to enjoy its immense power and wealth while "ordinary" people pursue their own lives of contentment. This, of course, is the goal which the ruling class announces, and which it desperately tries to convince both itself and us is true."
100% of U.S. Jobs Added Since 2010 Have Been Self-Employment, Contractor, or Other Jobs Without Unemployment Insurance Benefits
Self-employed workers and contractors are not eligible for unemployment benefits even though they have to contribute to state unemployment insurance schemes. It believe it is government-sponsored fraud to have to pay unemployment insurance when there is no chance of ever collecting it.
I suppose, in some fantasy world, the ruling class would be content to enjoy its immense power and wealth while "ordinary" people pursue their own lives of contentment. This, of course, is the goal which the ruling class announces, and which it desperately tries to convince both itself and us is true.
But we don't live in that fantasy world. In this world -- and, I would argue, in any world where brute power is the final means of settling every dispute, especially when that power is consolidated in the State --
the ruling class seeks power and wealth by dominating and controlling the weaker segments of society. The ruling class may not set out to kill those people it finds unnecessary for its aims,
but if the ruling class can maintain and increase its power and wealth only by eliminating them, it will eventually eliminate them. This is the logic of the ruling class's desires. It is certainly true that the ruling class could change much of this if it wished to:
the productive capacity of both England and the United States could be reinvigorated, and much new wealth could be created and enjoyed by many more members of society. But the ruling class believes that would necessitate the diminishment of its power and wealth, so they will not consider the possibility seriously.
The ruling class dreamed a nightmare, and made it real. We are now caught up in it. For many of us -- certainly for me, and very possibly for you -- the end result is clear: the ruling class intends to kill us. Not today or tomorrow, the ruling class hasn't reached that point of desperation quite yet, but they'll kill us soon enough. We have no value to them; we're superfluous; we're not needed.
#1222. To: mcgowanjm, A K A Stone, TooConservative (#1221)
The ruling class dreamed a nightmare, and made it real. We are now caught up in it. For many of us -- certainly for me, and very possibly for you -- the end result is clear: the ruling class intends to kill us. Not today or tomorrow, the ruling class hasn't reached that point of desperation quite yet, but they'll kill us soon enough. We have no value to them; we're superfluous; we're not needed.
JM, thought of you when I saw this Chick cartoon. Since you are a self described Black, gay, gnostic pagan and Muslim:)
As iron sharpens iron, So a man sharpens the countenance of his friend. -Proverbs 27:17 (NKJV)
Was your mother heavily sedated when she came up with that?
Or did your dad pull it out of his rolodex?
i never asked yet but maybe i should now that you mention it
we have a little boy who is now asking for a sibling to play with.
i've thought that it's probably not a bad idea from a reliability / failure mode or worst case analysis perspective that we do in fact have a backup in case something goes wrong with the existing pre adolescent unit we now have.
she is a somewhat ambivalent but seems to be coming around to the idea.
i have already come up with a nickname for he or she and that is "spare".
the wife is less enthusiastic about that idea.....although she did let me name 2 of our cats "flat" and "dead".
You can fool some of the people all of the time, and all of the people some of the time, but you cant fool them Texan flies.
A cowboy from Texas was at a fund-raising function for Barack Obamas reelection. When Obama discovered the cowboy was from George W. Bushs home area, he started to belittle him by talking in a southern drawl and single syllable words.
As he was doing that, he kept swatting at some flies that were buzzing around his head. The cowboy says, Yall havin some problem with them circle flies?
Obama stopped talking and said, Well, yes, if thats what theyre called, but Ive never heard of circle flies.
Well, sir, the cowboy replies, Circle flies hang around ranches. Theyre called circle flies because theyre almost always found circling around the back end of a horse.
Oh, Obama replies as he goes back to rambling. But a moment later he stops and bluntly asks, Are you calling me a horses ass?
No, sir, the cowboy replies, I have too much respect for the citizens of this country to call their president a horses ass.
Thats a good thing, Obama responds and begins rambling on once more.
After a long pause, the cowboy, in his best Texas drawl says, Hard to fool them flies, though.
As iron sharpens iron, So a man sharpens the countenance of his friend. -Proverbs 27:17 (NKJV)
No matter what the country, the dates are Always the same....;}
"Colin Powell is a liar. He can pretend all he wants but the record bears out the reality that he has repeatedly misled over and over. That is lying
The clearest result of this bribery for many Yemenis was the signing of the Jeddah border agreement in 2000,
whereby Yemen eventually conceded the decades-long disputed provinces of Asir, Najran, and Jizan.
Tthe border dispute is decades old. During the signing of the Taif border agreement in 1934,
it was considered a pact of Islamic friendship and Arab brotherhood between the Kingdom of Yemen and the Kingdom of Saudi Arabia. When President Ibrahim al-Hamdi took power in 1974,
discussion returned about the need to settle the border dispute between Yemen and Saudi. The source indicated that during Hamdis visit to the Saudi region of Taif during his 3-year term in office, the border issue was introduced. Hamdi is said to have replied: I am still in Yemeni territory. If you wish to discuss the issue, we can start with this point.
The issue was later forgotten following his assassination.
Under al-Hamdi's administration Yemen enjoyed the most prosperous economic boom since 1962,
as he was responsible for a civil engineering endeavour that would rival that of any country. On October 11, 1977
al-Hamdi was murdered along with his brother by Saudi Arabian funded agents believed to be from the Al-Ahmar tribe[citation needed] who are known dependents of the Saudi monarchy[citation needed]. Their goal was to slow down the progress of Yemen's unification.[citation needed] To this day al-Hamdi remains as Yemen's most beloved President.[citation needed].
The Age of Denial. The Age of No Consequences is now over.
Time Period:
September 15, 2008 - June 12, 2012
McCain: 'The Economy is fine.' to Obama: 'The Private Economy is fine.'
"The earth isnt dying; it is being killed. And clean energy will only make things worse.
I should probably begin by introducing myself; my name is Alex, and Im a recovering renewable energy advocate. For years, I was a victim of desperation and hope; I petitioned and parlayed, chanted and canvassed; I brimmed with excitement at the prospect of green jobs and a renewable energy economy. I still see much of myself in many of you.
I know what its like. I know exactly how it feels to look around and see a world not just dying but being suffocated, being tortured and maimed, sacrificed on the twin altars of profit and production. As a young person today,
I know what its like to fear the future, to fear for my future. Ilike many of youhave read all the studies and reports I need to see to know whats coming, what disaster is now screaming, all but unchallenged, down the track upon us
Before the arrival of industrial civilization on this continent, you could breathe the air and drink the water. A short 500 years later, every single mother in the world has dioxin (a chemical commonly called the most toxic in the world) in her breast milk, 98% of forests have been destroyed, half of all men and one third of all women now get cancer7, and the Colorado River no longer reaches the ocean.
Those systems which are destroying the planetindustrial agriculture, the extractive industries (industrial mining, fishing, logging, etc), the fossil fuel infrastructure, and exploitative systems of powermust be strategically dismantled and replaced by independent cultures of direct democracy that are fully integrated with their land bases and local ecosystems.
The Earth cannot afford any alternative, for the alternative is to let the dominant culture consume what little remains of the natural world.."
The above person is well intentioned, but humans aren't running the operation any more, if they ever were.
Nature will be just fine 20 000 years from now. You won't even know, except for about 400 or so rapidly diminishing Radioactive Hot Spots, that humans were even here.
Post Sat Jun 16, 2012 8:26 am by mcgowanjm The Age of Non Consequences or the Age of Denial is now over...
Mark it. Your fave numerology date of this coming week.
I've chosen:
062112
Just like 30 years ago this week when the
Reagan/Greenspan Commodities Trading Act was rolled out.
I had a hedge trade on that blew up because of that 'Act', so I remember it well.
When you look at any chart covering the time, you can see it to the day.
The Stock Markets soared. The Recession was over. And no one could explain why.
$1.75 Quadrillion later (love to give Jamie Dimon this number and see his reply :twisted: ) in Synthetic Investment Vehicles (See Enron JP Morgan;) and we have our answer.
ALL commodities charts have either formed a huge flag/pennant here or have dropped to the bottom of a Major Support level.
The Greek Election will be the explosion of the fuse that's been burning since September 15, 2008.
<<
mcgowanjm
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Post Sat Jun 16, 2012 8:33 am by mcgowanjm Re: Empire Manufacturing PLUNGES, misses big
Post Sat Jun 16, 2012 8:33 am by mcgowanjm While China's been just another copy of our Kleptocratic Plutarchy.
Most Chinese savings however are not invested in see-through apartment buildings. Bank deposits still dominate. The Chinese banks are the finest deposit franchises in human history.
They can borrow huge amounts at ex-ante negative real returns. And those deposits are mostly lent to State Owned enterprises.
The SOEs are the center of the Chinese kleptocracy.
If you manage your way up the Communist Party of China and you play your politics really well may wind up senior in some State Owned Enterprise. This is your opportunity to loot on a scale unprecedented in human history.
And what is the end result?: The Chinese Government (and the banks are part of the government even though they are listed) has access to seemingly unlimited bank deposits at negative real costs. When you have copious funds at a negative cost a lot of investments that look stupid under some circumstances suddenly look sensible.
US Treasuries look just fine. Don't think the Chinese are going to stop holding Treasuries. The Treasuries yield far more than they pay the peasants. The Chinese make a positive arbitrage on holding low rate US bonds.
Swap a few names and the resemblance with the System of the USSA is uncanny... :twisted:
While Russia has copied our political/diplomatic system. While covering our empire with it's own very precise choke point system. See Tartus Naval Base/Cyprus Bail Out bidding war for details.
The victim is 20-year-old Sheila Moreta who had just finished her first shift at Wendys.
She was biking home when a gray BMW, driven by 23-year-old Angelica Barroso, hit Moreta, dragging her body into the corner of the road, before taking off. While Moretas friend frantically tried to flag down help, Moreta was hit by a second car.
The BMWs license plates fell off the car at the scene and police were able to track Barroso down. They found her an hour-and-a-half later.
At a lunch that followed Powell's presentation, diplomats said he responded to the French foreign minister's concerns about the impact war with Iraq would have on the region by saying, "I wasn't talking about war, but about strengthening inspections."
The diplomats said Powell also made clear to Foreign Minister Dominique de Villepin that the United States is not ready to go to war immediately, and is interested in hearing France's proposals to strengthen inspections with the added value of the evidence Powell presented.
Yes, liars usually will trip themselves up. Like today when Powell tells Kira Zalan: And when I gave it, people stopped and listened. And the president by that time had already decided that combat would be necessary, he decided that sometime in January.
And now it's 5 February and I'm simply telling people why it may be necessary.
"Months of exclusive reporting on this website that 66-year old Hervey Medellin, the decapitation victim known as the Hollywood Head, was not murdered as the result of a 'gay love triangle gone wrong,' as reported, but because of long-standing connections to drug trafficking through the notorious and now-defunct Cali Cartel was confirmed (typically, without attribution) by a local TV newscast in L.A.
Still, the news caused nary a ripple. The reason:
For 72 hours last week some of the biggest guns of the worlds major mediaTIME, ABC NEWS, CNN, CBS, Reuters, FOX NEWS, London newspapers The Observer, The Independent, and the tabloid SUN and Daily Mail, the New York Observer,even Gawker pounded home a conspiracy theory to readers and TV viewers as rank and baseless as anything on the farthest fringes of the Internet, where, to cite one example, the role of alien locusts in the 9/11 attack is understood within a Biblical framework.
It was a tsunami of disinformation. It swept away the truth.
Incredibly, six months after the severed head of former Mexicana Airlines steward Hervey Medellin was discovered on a trail beneath the Hollywood Sign, the major medias suggested explanation remains what it was in the immediate aftermath of the crime:
Its a gay thing.
The question is 'why.' The answer can be seen in a graphic of recent decapitations and dismemberment in North America.
The media was atwitter about connections between Montreal's Canadian Cannibal and a murder 3000 miles away in Los Angeles. Yet no talk at all about Mexico, only 120 miles from L.A.. where there were a total of 81 decapitated and dismembered bodies found just last month.
We weren't even able to stick enough pins close enough (using Google maps) to represent the carnage."
" As the body count climbs across Mexico, the drugs continue flowing across the border by the ton.
Despite the evident disconnect--a "war" on drugs that increases the supply while lowering the price, in the best tradition of our reigning "free market" ideology--the American media regales the public with fairy tales of heroic "warriors" doing battle with murderous gangsters named "Joaquín," "Jorge" and "Amado."
The fact is, more likely than not, the real narcos taking the biggest cut from deep inside the reeking abattoir of the grisly trade have far less prosaic names like "Brett," "Ethan" or "Jason."
Pollution handled completely by natural self-repair? Oh, you might indeed label that optimistic!
Also optimistic is any assumption that effects of pollution consist mainly of global warming from greenhouse gases, since that is but one facet of a much broader existential threat from many sources of contamination and their synergistic interactions.
Criticism frequently dismisses the warnings of doomsayers since past predictions haven't come to pass, and attribute doomerism to some neurotic and unrealistic compulsion. But the fact is, we've always been doomed.
You only have to think about it for a few minutes to figure out that endless expansion and growth and extraction and pollution on a finite planet is going to fizzle out sometime or other. Personally, I blame Prometheus - ever since we harnessed fire, it's only been a matter of time.
Should I envy the vast majority of people who manage to not know this? Or should I be grateful for knowledge?
Those systems which are destroying the planetindustrial agriculture, the extractive industries (industrial mining, fishing, logging, etc), the fossil fuel infrastructure, and exploitative systems of powermust be strategically dismantled and replaced by independent cultures of direct democracy that are fully integrated with their land bases and local ecosystems.
WTH does the above BS mean??!?
HEY! Here's a solution:
Let's return to the Stone Age!!
Nature will be just fine 20 000 years from now. You won't even know, except for about 400 or so rapidly diminishing Radioactive Hot Spots, that humans were even here.
Nope. Allow me to clarify:
"And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea."
" To finish, I would like to point out that many of the comments about the private sector economy are based on an erroneous calculation of private sector real GDP. They seem to think that one can estimate private sector GDP by subtracting government consumption from total GDP.
But that is not correct. Remember, we do not directly estimate output. Rather the GDP data measures consumption and adjust that for changes in trade and inventories to indirectly estimate output.
For example if Boeing builds a 747 or Ford builds a truck it does not show up in GDP as output. It shows up in the GDP accounts in one of five ways.
1. If they sell it to an individual it is recorded in personal consumption expenditures.
2. If they sell it to a business it shows up as business fixed investment.
3. If they export it is recorded in the trade account.
4. If they do not sell it , the jet or truck is counted as an increase in inventories.
5. If they sell it to the government it is recorded as government consumption.
But if the jet or truck or some other good or service is sold to the government it still counts as private sector output just the same as if they had exported it or sold it to an individual or a business. In the GDP accounts, government consumption includes two types of transactions. One is government employment like a policeman or a soldier. The other is government purchases of goods or services from private business. So to correctly estimate private sector GDP you need to subtract only government employment but not government purchases from total GDP. This makes a big difference in the size and growth of the private economy. Every quarter that government purchases grow faster than private sector output it causes the estimate of private GDP derived by subtracting government consumption from total GDP to understate private GDP.
This method of estimating private GDP generates a highly biased estimate. For example,using the correct methodology shows that over the past decade private sector real GPD expanded almost 20% while the estimate derived from subtracting all government consumption from total real GDP concludes that private sector real GDP contracted some -16%.
Liberator Those systems which are destroying the planetindustrial agriculture, the extractive industries (industrial mining, fishing, logging, etc), the fossil fuel infrastructure, and exploitative systems of powermust be strategically dismantled and replaced by independent cultures of direct democracy that are fully integrated with their land bases and local ecosystems.
WTH does the above BS mean??!?
Those systems which are destroying the planetindustrial agriculture, the extractive industries (industrial mining, fishing, logging, etc), the fossil fuel infrastructure, and exploitative systems of power....
That the Last 120 years of the Oil Age is now over....we've 'borrowed' according to 'economics', but Stolen is the more appropriate word.
Kinda Exactly like the $1.75 Quadrilion in Synthetic Investment Derivatives starting 30 years ago today, have been stolen.....
...must be strategically dismantled and replaced by independent cultures of direct democracy that are fully integrated with their land bases and local ecosystems.
TIME'S UP...as of 062112 and the Greek election tomorrow.
Nature will be just fine 20 000 years from now. You won't even know, except for about 400 or so rapidly diminishing Radioactive Hot Spots, that humans were even here.
Nope. Allow me to clarify:
"And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea."
Revelations: 21:11 (KJV)
Where will YOU be, Jimmy?
First off, you stupid fuck....
It's Mister Jimmie to you....;}
Next:
This ain't bible study class.
And Jesus Fucking Christ...is EVERYONE here a bible thumpin' Fundy?....8D
So where in the bible does it say,
'When you fill up the planet destroying everything need to live on, another planet will be provided....
Russian Warning Shots fired: Syrian Conflict Threatens to Degenerate into World War III By: Thierry Meyssan, sent by Syrian on: 13.06.2012 06:52 The nature of the Syrian crisis has changed. The process of destabilization that was to open the path for legal military intervention by the Atlantic Alliance has failed. Removing its mask, the United States has publicly announced the possibility of attacking Syria without the approval of the Security Council, as it also did in Kosovo. Washington must be pretending not to have noticed that the Russia of Vladimir Putin is not that of Boris Yeltsin. After being assured of Chinese support, Moscow literally fired two warning shots in the direction of Washington. The continuing violations of international law by NATO and the GCC threaten to unleash a global conflict.
The more the USSA talks about Syria, the more the USSA is moving to WWIII....it really is that simple now.
Nayef was announced the new heir to the Saudi throne after the death of his full brother, former Crown Prince Sultan bin Abdul Aziz, at a New York hospital on October 22, 2011.
The 79-year-old Nayef, who was also the long-serving interior minister of Saudi Arabia, recently left the kingdom for medical treatment and was seen in Switzerland a few days ago.
Nayef had also traveled for medical reasons to a few countries including Algeria and the United States this year. The nature of his illness has not been made public.
His brother, Prince Ahmed bin Abdul Aziz, was recently quoted as saying in a Saudi daily that the crown prince was in good health and that he would soon return to Saudi Arabia.
Next in line for the position of crown prince is expected to be Nayefs younger brother, Prince Salman, who is the minister of defense. However, no one has officially been announced to replace the dead crown prince.