Abstract: An alternating current electromagnet is used in a magnetic bearing in which one or more electrically conductive loops travel on a prescribed path through a magnetic field produced by the electromagnet. An electrical current is induced in the loop whenever it deviates from its prescribed path. A power supply drives the electromagnet(s) at a frequency at which the magnetic field interacts with the currents induced in the loop to force a deviant loop laterally toward the prescribed path. Capacitors may be connected in series with the loops to provide them with the desired reactances.