Check out these links - I can't believe my...

Check out these links - I can't believe my eyes!

http://www.aofm.gov.au/content/rmbs.asp

and

http://www.aofm.gov.au/content/_download/rmbs/rmbs_data_20111220.xls

This information is explosive if a better communicator than myself new about it, the whole of Australia would be very angry. Perhaps we need a Today Tonight expose on this.

Basically it says that between 2008 and 2011 Wayne Swan directed that the Government to purchase $370 billion in Australian mortgaged back securities. Another way of looking at this is that tax payers have (via Swan) inflated property prices in Australia to the tune of $370 billion!

That is an awful big gamble by Swan! Makes me think if this is an elaborate pyramid scheme, that not only are the Banks and Baby Boomers trapped, but now also the Government is trapped as well. Now if there is a US style collapse then the Commonwealth Government will on paper be insolvent.

This is disgraceful position for the Government to be in and it will mean future generations of Australians will suffer for the reckless gambling on Australian property.