The supporters of the Federal Reserve and fiat currency are determined to use any excuse to promote their failed notions much like the man-made global warming crowd. They fortunately, are being exposed, everyday it seems, for what they truly are, shills for the corrupt bankers and elites who use these truly fraudulent methods to rob us blind. Remember, buy silver...
Will Jared Loughner discredit the gold standard?
By Chadwick Matlin
Jared Lee Loughner used the American dollar like the rest of us. He used it to pay for classes at Pima Community College, he used it to buy a handgun and he used it to pay for a taxi to the Safeway where he shot Rep. Gabrielle Giffords and 19 others on Saturday.
But apparently the dollar is a currency he despised. Loughner’s YouTube videos are consumed with the idea of creating a “new currency,” one that is nothing like our current, Federal Reserve-controlled greenback. In “Hello,” he writes, “my ambition — is for informing literate dreamers about a new currency.” (All of Loughner’s videos are composed of text or diagrams. He never appears.)
What “new currency” implies is unclear. He seems to oscillate between a new currency backed by gold and silver, and one that allows the individual complete control. But it’s evident that monetary policy was one of Loughner’s many pet peeves. Past violent psychopaths have had their tics — John Hinckley thought he could impress Jodie Foster by shooting Ronald Reagan, John Wayne Gacy dressed as a clown — but Loughner appears to be the first obsessed with the particulars of monetary policy.
In a video called “Introduction: Jared Loughner” he writes, “No! I won’t pay debt with a currency that’s not backed by gold and silver!” But then later, in the same video, he also suggests that it’s not a gold standard he’s after, but a personal one. “Every human who’s mentally capable is always able to be treasurer of their new currency,” he writes in the same video. Later, he speaks about creating a “new language” in the same terms he uses to describe a “new currency.”
What any of this means is difficult to say. Based on his videos and friends’ accounts, he is clearly a man not in control of his faculties, a deficiency that led to the slaying of six innocent people, and the wounding of 14 more. He seems to operate on a logic all his own — a logic that is in part on display in the numerous, confused proofs he posits in his videos.
But if we can’t divine Loughner’s motives, we can better explain the larger monetary context that seemed to influence him. Loughner picked up threads of two different subcultures: one that demands the Fed stop manipulating the dollar, and the other that seeks to remove the Federal government from manufacturing currency altogether. This is not to say that these monetary subcultures drove Loughner to kill. But it does suggest they were two of his ideological sanctums.
The idea of a gold-backed dollar will be familiar to Ron Paul supporters and anyone older than 78. That many years ago, the country determined how many dollars could be in circulation based on how much gold it possessed. This, theoretically, would help prevent total financial collapse, since the currency would always be rooted to something tangible. The dollar was so pegged to gold that Americans could use gold as legal tender. Then, in 1933, Franklin Roosevelt seized private stashes of gold, and in 1971 Richard Nixon explicitly uncoupled the dollar from gold.
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