Jared Lee Loughner's Currency Obsession

| Sat Jan. 8, 2011 5:58 PM EST

Jared Lee Loughner, arrested in connection with the shooting of Rep. Gabrielle Giffords (D-Ariz.) and more than 20 others in Tucson, posted a series of often inscrutable YouTube videos outlining his philosophy. One video, posted in December, discusses, in a rather incoherent manner, the "new currency." Currency has been a staple issue of the Nativist right; its members fear that the shift from the gold standard to the Federal Reserve system (and the printing of paper money) has imperiled the country. The issue has lately been taken up by some within the tea party who have warned of the supposed dangers of printing money; some have even suggested using an alternative currency of silver and gold.

Concerns about currency stretch from extreme conspiracy theorists to traditional libertarians. For example, libertarian Rep. Ron Paul (R-Tex.) has often warned against paper money, advocating a return to the gold standard. (Some Paul supporters have worried that Loughner's currency ramblings would unfairly tarnish them. "That [Loughner] was for gold and silver backed currency can only mean bad things for us," a commenter on RonPaulForums.com wrote today.)

In an online posting accompanying one of his videos, Loughner refers repeatedly to Article I, Section 10 of the Constitution, which states that "No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts."

Loughner writes: "What is section 10 you ask? If you make a purchase then it's illegal under section 10 and amendment 1 of the United States constitution. You make a purchase. Therefore, it's illegal under section 10 and amendment 1 of the United States constitution." He also states: "Top secret: Why don't people control the money system? Their Current Currency(1/1) / Your new infinite currency (1/~infinte) This is a selcte information of revoluntary thoughts!"

The fears of paper currency and the Fed also are shared by anti-Semites who maintain that Jews control the Federal Reserve system and are working behind the scenes to destroy the true American Republic. So at this early stage of the shooting investigation, it's worth noting that Giffords is the first Jewish member of Congress in Arizona's history. Loughner, in an online posting, described Mein Kampf as one of his favorite books. Still, there's no telling yet precisely where Loughner resides on the extremist landscape.

You can watch Loughner's video here:

Read our exclusive interview with a friend who describes Loughner's family, bizarre dream journal, and his obsession with Rep. Giffords. Full coverage of the shooting and its aftermath is here.