Steven Ledbetter on gold standard
From A Gold Standard Just Doesn’t Make Any Sense Today - Inc’s Ledbetter · · Kitco NEWS
“There was a gold commission in the 1980s that studied this question and one of the things we learned is there's not even agreement on what a gold standard is; there are lots of different ways to define it and the people who care most about it often hate the other guys the most.”
On , Steven Ledbetter, Executive Vice President of Commercial at HF SINCLAIR CORP, spoke about gold standard during A Gold Standard Just Doesn’t Make Any Sense Today - Inc’s Ledbetter on Kitco NEWS.
About Steven Ledbetter
In a 2017 interview with Kitco, James Ledbetter discussed his book *One Nation Under Gold* and expressed skepticism about returning to a gold standard, calling such a move "tremendously disruptive to the financial system." He argued that "we can't really grow an economy if all you do is buy and trade with gold" and noted that "there's not even agreement on what a gold standard is." Ledbetter stated that he is not personally invested in gold, though he acknowledged it can be "a viable part of a portfolio." He criticized the 20th-century prohibition on gold ownership as "wrong" and described a secret Johnson administration program called "Operation Goldfinger" that sought to find gold using Treasury funds without legislative debate. Ledbetter also compared gold to digital currencies like Bitcoin, calling them "complete opposites" but noting both appeal to people skeptical of central banks and paper currency. He expressed doubt that blockchain-based "digital gold" would become a large-scale trading method, calling it "more of an intellectual experiment." He concluded that gold "has a place in the monetary system... but it's just not at the center."