3 Suprises This Week

Well, the 3 biggest surprise for the week for me were, that other people were surprised to find out:

1.) Comex is a highly leverage exchange, a paper exchange.
2.) That the Fed were buying products outside of their statutory authority.
3.) The Fed is unhedged in large portions of their holdings.

I am actually shocked these things were news this week. I thought the above was common knowledge among professionals.