The Money Market

The book opens by reminding listeners that the money market, though invisible in daily life, underpins the fortunes of both rich and poor. It walks back to the first exchanges of skins for grain, showing how barter gave way to coins and early monetary practices in England. From the Norman era onward, the narrative follows the gradual emergence of true banking, setting the stage for modern finance.

Key episodes bring the medieval Jewish moneylenders, the Lombard merchants of the Street, and the visionary Sir Thomas Gresham into focus, illustrating how each group shaped the evolving system. The author then describes the shift from storing wealth in the Tower of London to entrusting it with goldsmiths, a change that laid the groundwork for contemporary banking. Throughout, the story remains vivid, linking past innovations to the market forces that still affect us today.