When we think of capital as social – a class relation – what does it mean for capital to ‘move’? This paper uses that question to highlight the ways in which globalised commodity and asset markets depend on the (relative) immobility of labour as an anchor measure of value. Conventionally, in Marxist theory this has been framed in the context of a national dimension to the value of labour power (social subsistence). But with globalized finance, and living standards in each location increasingly driven by profit criteria rather than social norms, the stable social anchor of value is losing meaning. In its place, we see a financial turn in that anchor, in which workers, now framed as households, have their subsistence locked increasingly into contractual payments (for loans, insurance, utilities, etc.) and that these payments are being increasingly securitized: turned into globally-traded financial assets backed by household payments. Our proposition is that, post financial crisis, states are increasingly targeting and overseeing household financial exposures, so as to build safety into securities backed by household payments. This project is critical to the state’s underwriting of Value in its globalized, financial form. When we think of capital as social – a class relation – what does it mean for capital to ‘move’? This paper uses that question to highlight the ways in which globalised commodity and asset markets depend on the (relative) immobility of labour as an anchor measure of value. Conventionally, in Marxist theory this has been framed in the context of a national dimension to the value of labour power (social subsistence). But with globalized finance, and living standards in each location increasingly driven by profit criteria rather than social norms, the stable social anchor of value is losing meaning. In its place, we see a financial turn in that anchor, in which workers, now framed as households, have their subsistence locked increasingly into contractual payments (for loans, insurance, utilities, etc.) and that these payments are being increasingly securitized: turned into globally-traded financial assets backed by household payments. Our proposition is that, post financial crisis, states are increasingly targeting and overseeing household financial exposures, so as to build safety into securities backed by household payments. This project is critical to the state’s underwriting of Value in its globalized, financial form.