Coronavirus relief will not be financed through through traditional taxes, but through inflation of the monetary base. The debate over tax rates obscures the remarkable stability of federal tax receipts. Since 1946, federal revenue averaged 16.82% of gross domestic product (GDP). A return to the marginal rates of yesteryear, which were at times above 90%, is therefore unlikely to yield additional revenue. A graph illustrating top marginal tax rates over time immediately follows:

A multimetallic buying binge has resulted in a shortage of physical precious metals for the U.S. Mint and its downstream dealers. A phone call to Kitco on Wednesday confirmed that conversion of silver pools to physical delivery would command an eleven-dollar premium per ounce over spot. Luckily, there are paper equivalents whose expense ratios are much more favorable than the aforementioned premium. Figures and Commentary Using our Ticksift platform, we consider the following three exchange traded funds (ETFs): GLDM (SPDR Gold Trust), SLV (iShares Silver Trust), and CPER (United States Copper Index Fund).