Jared Lee Loughner’s Currency Obsession

US Mint


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.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate