Late last week, the financial world witnessed another record-setting palladium spot price denominated in fiat Federal Reserve notes.

The palladium price passed $2,500 oz USD intraday last Friday, January 17, 2020.

Ongoing palladium bullion shortages illustrate how attempts to control and contain precious metals prices, eventually end and even backfires into physical short-falls of supply. Exponential price runs higher as a result.

WATCH the PALLADIUM PRICE RECORD VIDEO UPDATE BELOW

From mid-2013 until the end of January 2021, at the very least, the CME Group's COMEX/NYMEX/CBOT will continue extending foreign central banks or those approved institutions who trade on their behalf, high volume commodity/FX/and precious metals derivative contract trading discounts.

See in this video presentation below just how much palladium bullion has exited the NYMEX warehouses and Palladium ETFs since the Central Bank Incentive Program (CBIP) got underway in the year 2013 and onwards.

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Palladium Price Records Expose Price Suppression Programs Ongoing

Just over a week ago we broke the news on our SD Bullion video channel, that the CME Group [ which owns and operates the COMEX (derivative exchange where majority gold and silver price discovery occurs), and the NYMEX (derivative transaction where majority platinum and palladium price discovery occurs) ] has extended its CME Group COMEX NYMEX - Central Bank Incentive Program.

This likely commodity price suppression program has been running since the middle of 2013.

It is a high volume trading discount program where foreign central banks or large financial institutions such as the Bank for International Settlement’s (BIS) trading desk can trade almost all CBOT, NYMEX, and COMEX derivative contracts at a discount versus mostly unknowing counter-party stooges, unaware that this CBIP program even exists.

All akin to Las Vegas having an open blackjack tournament while allowing the most significant card counters and off table currency counterfeiters to come on and bet according to their approved agendas. The retail betting public stands little chance.

So this late 2019 letter written from the lawyer representing the CME Group’s COMEX NYMEX and CBOT derivative casinos is adequately notifying the supposed regulatory agency overseeing them, called the CFTC that until the end of January 2021 extended. The tables will remain heavily slanted in favor of approved foreign central bank commodity, FX, interest rates, and precious metals derivative tradings.

Remember the COMEX and CFTC are the same organizations, plus the US Treasury, which tried to dissuade US citizens from owning bullion beginning in late 1974 into 1975 when gold bullion was 're-legalized' for private US citizen ownership onwards.

We know well ourselves, many people out are running out time to see their precious metal bets perform versus the financially engineered backdrop ongoing.

But we cite this CBIP program again today to remind you how this new Bullion Price Suppression program likely gets its comeuppance.

Look above in the video at the 5:58 mark to see how post-2013 NYMEX palladium bullion holdings got drained to today.

Look in the video above at the 6:08 mark to see how post-2013 even palladium ETFs have gotten raided for their physical palladium bullion inventories.

While most of us reading this here on ZeroHedge, do not have significant investment positions in palladium.

We argue that the escalating palladium fiat $USD price is indeed showing the likely paths this decade and even ahead, for the other three primary precious metals future fiat US dollar valuations.

One must consider buying and owning a prudent bullion investment position, especially while today's current commodity values remain near 100-year low valuation levels versus generally overpriced fiat financialized paper assets.

The last near 50 years of data have proven the soundness of owning physical bullion living under a full fiat currency monetary regime.