Latest / Complex Systems with Patrick McKenzie (patio11)
How money moves, with Erik Torenberg
In this episode, Patrick McKenzie (patio11) is joined by Erik Torenberg, the founder of Turpentine, to discuss the fundamentals of money movement and banking systems. Patrick breaks down how banks facilitate transfers through correspondent accounts and clearinghouses, explaining the evolution from physical check movement to digitization. They cover the gold standard's history, and then dig into stablecoins and their implications for the future of finance.
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Full transcript available here: https://complexsystemspodcast.com/money-movement-erik-torenberg
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Sponsors: Safebase
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