“there’s no place like 127.0.0.1”

127.0.0.1 Defined in the Internet RFC’s

127.0.0.0/8 – This block is assigned for use as the Internet host loopback address. A datagram sent by a higher level protocol to an address anywhere within this block should loop back inside the host. This is ordinarily implemented using only 127.0.0.1/32 for loopback, but no addresses within this block should ever appear on any network anywhere.