So Britney's upset about recent paparazzi pix of her looking a little heavy, as she walked down Miami beach with boyfriend Sam Asghari the other day so now she's suggesting a WILD conspiracy theory -- that the paps are releasing old pix of her to make her look back OR that they're photoshopping new pix and putting out fake news? Uh, what?!

And so you know -- the pix she's referring to aren't X17 images but we can say with certainty that even our competitors aren't doing what Britney suggests. Those were new pix and were not Photoshopped. It may have been an unflattering angle, but they were 100% real.

So how do you explain Britney's obsession with the images and her bizarre selfie video suggesting a "conspiracy theory that she's really interested in?" Okay, the running eye makeup she explains, but the overwhelming desire to put out messages that try to twist reality? We can only assume she's not grounded in reality herself ... And you know we LOVE us some Britney, but she does not appear to be of sound mind right now ...