A Loop-style public banking system could start to provincialize bond markets by making public liabilities circulate through public balance sheets instead of constantly seeking validation from private capital markets.
moneyontheleft.org/2026/04/08/t...
The Case for Fiscal Insurgency
Instead of asking “Will global investors reward the pound?”
We should ask,
“What international public institutions can stabilize payments while countries build housing, energy, care, transit, food systems, and decarbonization capacity?”
“Kneel before Bond Markets, your God!”
blogs.lse.ac.uk/politicsandp...