[...] Whereas the rights of the state people are grounded in national political status, or citizenship, the market people of international finance derive their claim on public policy from commercial contracts, which in an encompassing global market, where lenders have alternatives, tend to take precedence. By providing its customers with liquidity, the financial industry establishes control over them, as is the very nature of credit. Financialization turns the financial sector into an international private government disciplining national political communities and their public governments, without being in any way democratically accountable. [...]