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.

MORE HARD-HITTING JOURNALISM

In 2014, before Donald Trump announced his run for president, we knew we had to do something different to address the fundamental challenge facing journalism: how hard-hitting reporting that can hold the powerful accountable can survive as the bottom falls out of the news business.

Being a nonprofit, we started planning The Moment for Mother Jones, a special campaign to raise $25 million for key investments to make Mother Jones the strongest watchdog it can be. Five years later, readers have stepped up and contributed an astonishing $23 million in gifts and future pledges. This is an incredible statement from the Mother Jones community in the face of huge threats—both economic and political—against the free press.

Read more about The Moment and see what we've been able to accomplish thanks to readers' incredible generosity so far, and please join them today. Your gift will be matched dollar for dollar, up to $500,000 total, during this critical moment for journalism.

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

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.