The Story of Money

The 1980s Garfield buyout that changed corporate finance

The 1982 Garfield-fueled buyout of Gibson Greeting Cards turned a tiny investment into a massive private equity boom.

The US dollar’s ‘immigrant’ origins

Long before the US existed, a failed Bohemian silver mine birthed the immigrant coin that became the global dollar.

The financial scams that brought Albania to the brink of war

Massive pyramid schemes promising easy wealth trapped two-thirds of Albania, triggering a violent national collapse.

When Nixon put America first and took the dollar off gold

Richard Nixon upended the global financial order by ending the dollar's convertibility into gold to save his presidency.

Why Richard Nixon torpedoed the global monetary system

In 1971, Richard Nixon unilaterally severed the dollar's link to gold, effectively shattering the global monetary order.

The 18th-century woman who made saving possible for the poor

Priscilla Wakefield defied 18th-century banking norms to launch the first savings bank for women and children.

The deal that put the dollar at the centre of the world

A remote, crumbling hotel hosted the chaotic, booze-fueled negotiations that made the US dollar the world currency.

How ancient Mesopotamians solved runaway debt

In this episode of The Story of Money, hosts Gillian Tett and Robin Wigglesworth explore a recurring economic dilemma: what happens when personal debt outpaces the ability to repay it? They are joined by historian Amanda H. Podany to examine how ancient Mesopotamian rulers, including Hammurabi, managed this crisis through the radical practice of debt jubilees. By periodically cancelling debts, these early societies prevented total economic collapse and social instability. Listeners will gain a fascinating look into the inner workings of the ancient Near Eastern economy and consider whether these archaic solutions hold meaningful lessons for our modern financial systems. Through expert analysis, the discussion bridges thousands of years of history, offering a unique perspective on the persistence of debt and the bold political actions taken to ensure the long-term survival of a functional society.

They are history’s geniuses. But were they any good at investing?

In this episode of The Story of Money, hosts Gillian Tett and Robin Wigglesworth explore whether intellectual brilliance in science, art, or politics correlates with financial savvy. They are joined by reporter Toby Nangle, who investigates the investment portfolios of historical icons including Isaac Newton, Charles Darwin, Winston Churchill, and John Maynard Keynes. By digging into the archives, the team reveals that legendary geniuses often struggled to replicate their professional success in the unpredictable world of personal finance. Listeners will discover how these influential figures navigated market risks and learn about a surprising historical wildcard that complicates the relationship between high intelligence and wealth management. It is a fascinating look at the intersection of genius and market performance, proving that the skills required to change the world do not always lead to a prosperous investment record.

Introducing: The Story of Money

In the premiere episode of The Story of Money, hosts Gillian Tett and Robin Wigglesworth challenge the common assumption that history holds little relevance in the modern financial sector. By examining the ideas, key personalities, and institutions that have defined global finance throughout history, the hosts illustrate how past patterns often repeat themselves. Listeners can expect a deep dive into diverse topics, ranging from unregulated banking practices in 19th-century America to ancient Mesopotamian debt systems and the complexities of modern credit derivatives. Through this historical lens, Tett and Wigglesworth aim to highlight the recurring manias and mistakes that have consistently shaped our economic landscape. By uncovering these lessons, the podcast provides listeners with valuable insights into the origins of today’s financial systems and helps them anticipate where future market opportunities and potential disasters may emerge.

Finale: The collapse of India’s $22bn tech star

In this final episode of The Story of Money, host Michela Tindera explores the meteoric rise and catastrophic collapse of Byju’s, the Indian education technology company that once stood as a symbol of national pride. Once valued at $22 billion during the Covid-19 pandemic, the startup’s swift disintegration has sparked a massive legal battle, complete with high-stakes allegations of witness tampering and significant court sanctions in the United States. Mumbai bureau chief Chris Kay joins the conversation to dissect the unraveling of this business giant and the broader implications of its downfall. Listeners will gain an inside look at the hunt for missing millions and discover what this high-profile failure means for the future of India’s technology sector. It is a compelling investigation into how a Silicon Valley darling spiraled into chaos and left a trail of financial wreckage behind.

Private credit’s public reckoning

In this episode of The Story of Money, hosts Antoine Gara and Eric Platt examine the volatile state of the private credit sector. Once a rapidly expanding corner of Wall Street, the two-trillion-dollar industry is now under intense pressure as investors move to withdraw billions of dollars from its funds. Gara and Platt delve into the underlying causes of this sudden shift, exploring why the sector is facing such harsh scrutiny after years of consistent growth. By analyzing market trends and potential risks, the discussion offers listeners a comprehensive look at the current instability within private capital. This episode provides essential context for anyone following financial markets, breaking down how this critical juncture was reached and offering insights into the uncertain future that lies ahead for one of the most significant pillars of modern alternative investing.

Best of: How the diamond industry lost its sparkle

In this episode of The Story of Money, the hosts examine the profound transformation reshaping the global diamond industry. Once a symbol of luxury and rarity, natural diamonds now face an existential challenge from lab-grown alternatives that are chemically identical yet significantly more affordable. The discussion highlights an on-the-ground investigation into the central Chinese province of Henan, the technological hub where these stones are mass-produced. Listeners gain insight into the manufacturing processes driving this shift and the economic pressures forcing change within traditional markets. Furthermore, the episode explores the future of the sector through the lens of industry giants like De Beers, questioning what potential ownership changes signal for the broader trade. This deep dive offers a compelling look at how innovation and shifting consumer preferences are permanently altering the economics of one of the world's most enduring luxury goods.

Introducing Untold: Opus Dei

In this inaugural episode of the new Untold season, host Antonia Cundy peels back the layers of Opus Dei, a prominent and often polarizing Catholic organization operating within the United States. While the institution officially exists to guide its members toward a deeper spiritual connection with God, this series investigates the complex reality behind that mission. Cundy explores the significant cultural and political influence the group wields, while simultaneously elevating the voices of former members who describe an organization rife with hidden agendas. Listeners can expect a deep dive into personal testimonies that reveal how an pursuit of faith sometimes resulted in unexpected harm. This investigative series challenges common perceptions of the group and examines the tension between religious devotion and institutional control, offering a compelling look at the power dynamics hidden within a global organization.

Wall Street and crypto battle over the future of money

In this episode of The Story of Money, the host explores the escalating tension between traditional financial institutions and the burgeoning cryptocurrency industry. The discussion centers on the legislative landscape following the landmark regulation of stablecoins, a move that initially provided a major victory for digital currency firms. However, the regulatory landscape remains a battlefield as prominent Wall Street banks actively lobby to reshape these laws to better suit their interests. Financial Times digital markets correspondent Nikou Asgari joins the program to provide expert insight into the motivations behind this institutional resistance and analyzes which side currently holds the strategic advantage. Listeners can expect a comprehensive breakdown of how this power struggle could fundamentally alter the future of global finance and define the role of digital assets within the existing economic framework.

Vote for Behind the Money in the NYC Podcast Awards!

In this episode of The Story of Money, the hosts reflect on the podcast's ongoing commitment to delivering deep, investigative journalism through compelling conversations. The program focuses on the art of the interview, highlighting how the show uncovers the human stories behind major financial headlines and global economic shifts. Listeners are invited to revisit the core mission of the series, which explores complex financial landscapes by speaking directly with the people shaping them. By examining the nuances of high-stakes reporting, the episode reinforces why the show remains a go-to resource for those interested in the intersection of money, power, and society. Whether exploring market trends or personal finance narratives, the team remains dedicated to providing insightful, expert-driven analysis that makes dense economic topics accessible and engaging for a curious, broad-minded audience.

Co-creators Mickey Down & Konrad Kay on ‘Industry’

In this episode of The Story of Money, hosts Michela Tindera and Joshua Franklin sit down with Mickey Down and Konrad Kay, the creative minds behind the hit HBO series Industry. As the show concludes its fourth season, the conversation explores the blurred lines between television drama and the high-stakes reality of London’s financial district. The creators provide a behind-the-scenes look at how they craft narratives for their ambitious characters while examining the authenticity of the show’s portrayal of modern banking culture. Listeners can expect an engaging discussion on the parallels between fictional plotlines and real-world financial trends. Whether you are a fan of the show or interested in the human side of global finance, this episode offers a fascinating bridge between pop culture and the complexities of the banking industry.

Companies reap $22bn from Trump’s immigration crackdown

In this episode of The Story of Money, the hosts delve into the significant financial network supporting United States immigration enforcement operations. While high-profile raids by Immigration and Customs Enforcement often dominate the news cycle, this discussion shifts the focus toward the sprawling web of private companies profiting from government contracts. Investigative journalist Peter Andringa joins the program to share findings from a deep dive into federal documents and data sets, which reveal how a diverse range of entities—from global industry giants to small, specialized firms—have secured billions of dollars through these government ties. Listeners can expect a thorough examination of the intersection between public policy and private profit, as the investigation illuminates the complex business ecosystem that sustains large-scale deportation efforts. The episode offers a compelling look at the hidden economic machinery fueling modern immigration enforcement.

How a private equity pioneer lost its grip on the market it invented

In this episode of The Story of Money, hosts explore the rise and potential decline of Partners Group, a firm that originally revolutionized the private equity landscape by opening access to individual investors. While the company once led the way in this niche market, recent regulatory shifts under the Trump administration are poised to expand the industry significantly. Despite this massive opportunity, the pioneers find themselves struggling to maintain their competitive advantage against newer, faster-moving rivals. Financial Times journalists Antoine Gara and Alexandra Heal break down the internal and external challenges threatening the firm’s dominance. Listeners will gain insight into the evolving world of private capital, the risks associated with retail investment in buyout funds, and why a market leader might be losing its grip on the very territory it once pioneered.

A hedge fund’s $8bn bet on Venezuela’s Citgo

In this episode of The Story of Money, hosts explore the high-stakes world of distressed assets through the lens of hedge fund Elliott Management’s ambitious eight-billion-dollar pursuit of Citgo. The acquisition began as a complex legal battle following a US court order for Venezuela to sell its refinery business, but the situation became significantly more volatile following geopolitical shifts and the removal of the Venezuelan leadership. Financial journalists Amelia Pollard and Costas Mourselas break down the mechanics behind Elliott Management’s strategy, detailing how the firm specializes in navigating high-friction, complicated global deals. Listeners will gain insight into the intersection of international diplomacy, corporate litigation, and aggressive investment tactics. Through expert analysis and archived reporting, the episode unpacks the hurdles of closing a deal caught in the crosshairs of a sovereign nation and the US government, offering a fascinating look at the risks inherent in global finance.