A charged, near degenerate quantum fluid, necessarily inhomogeneous by virtue of the presence of a dynamic and more massive compensating charge distribution (itself possessing internal structure composed in part of the same particles constituting the putative quantum fluid) is found to exhibit a liquid–liquid phase transition as temperature is lowered. The ensuing low temperature phase is dissipationless and in spite of long-ranged attractions between the quantum fluid and the compensating system, no energy transfer proceeds between the two. The quantum fluid in question is electronic in origin; the emerging state is, of course, one of superconductivity or superdiamagnetism and its lack of dissipation is entirely consistent with the existence of an energy gap in the spectrum of excitations of the quantum fluid. The degeneracy temperature of the quantum fluid originates with valence electrons, and ranges from 10 4 to 10 5 K. There is vast flexibility in the choice of structure, the degree of complexity of the compensating system, and of its dynamics. Acknowledging fluctuations in both itinerant and localized charge, is it therefore possible that systems can be found where the liquid–liquid transition of interest here can be found at significant temperatures, perhaps even near room temperature? In this quest it appears that the light elements in combination continue to offer considerable promise.