Introducing: The Story of Money

1 min

•Apr 21, 2026about 1 month ago

Summary

This episode introduces 'The Story of Money,' a new Financial Times podcast exploring how historical financial events shape today's markets. Hosted by Gillian Tett and Robin Wigglesworth, the series examines recurring patterns in financial history—from wildcat banks to ancient debt cancellations—to help listeners understand modern financial crises and opportunities.

Insights

Financial history repeats itself in predictable patterns; understanding past crises helps predict and avoid future market losses
Debt cancellation and financial system resets have ancient precedent, suggesting cyclical approaches to financial crises
Barriers to entry in financial services have historically been low, enabling both innovation and fraud (wildcat banking example)
Modern financial phenomena like AI bubbles and market crashes have historical parallels that provide explanatory frameworks

Trends

Cyclical nature of financial crises and market bubbles across centuriesHistorical precedent for debt forgiveness as economic policy toolLow regulatory barriers enabling both legitimate and fraudulent financial innovationGrowing audience interest in financial history as lens for understanding contemporary marketsPodcast format emerging as primary medium for financial education and analysis

Topics

Financial History and Market CyclesWildcat Banking and Frontier FinanceAncient Debt Cancellation PracticesArtificial Intelligence BubblesMarket Crash Prediction and PreventionFinancial Regulation and Barriers to EntryHammurabi Code and Ancient EconomicsPodcast Series Launch Strategy

Companies

Financial Times

Producer and distributor of 'The Story of Money' podcast series featuring financial history analysis

People

Gillian Tett

Co-host of The Story of Money podcast exploring financial history and market patterns

Robin Wigglesworth

Co-host of The Story of Money podcast exploring financial history and market patterns

Hammurabi

Historical example of debt cancellation as economic policy in ancient Babylon

Quotes

"So they say that money runs the world. But the story of money itself? Well, that's where things get really interesting."

Host

"It was about as difficult to become a banker as it was to become a bricklayer. Many people viewed them as conmen."

Host

"History, but especially financial history, has an uncanny way of repeating itself."

Host

"Whether it's artificial intelligence bubbles or the next big market crash. Chances are it's all happened before."

Host

"If you don't understand the past, well, you just might lose money in the future."

Host

Full Transcript

So they say that money runs the world. But the story of money itself? Well, that's where things get really interesting. From wildcat banks on the American frontier. It was about as difficult to become a banker as it was to become a bricklayer. Many people viewed them as conmen. The ancient rulers wiping out debts thousands of years ago. When a king came to the throne, and Hammurabi did this himself, one of the very first things he did was to cancel everyone's debts. Lenders really did, you know, break the tablets on which the loans were recorded. people were free. History, but especially financial history, has an uncanny way of repeating itself. How, you might ask? Well, we've got a brand new podcast that explains exactly how. The story of money from the Financial Times. Hosted by me, Gillian Tett. And me, Robin Wigglesworth. Each week, we go back in time to understand what the forces are that really shaped the financial world we live in today. Because whether it's artificial intelligence bubbles or the next big market crash. Chances are it's all happened before. And if you don't understand the past, well, you just might lose money in the future. So follow the story of money from the Financial Times, launching April the 22nd, new episodes every week, wherever you get your podcasts.