Rupal Patel: The Surprising Truth About How Money Works

Every morning, someone unassumingly types numbers into a spreadsheet, hits enter and creates millions of pounds.
About this Event

Every morning, someone unassumingly types numbers into a spreadsheet, hits enter and creates millions of pounds. Somewhere deep underground, a machine most of us will never see props up the entire British economy. And hidden in a vault nearby are individual banknotes worth £100 million each. These are just some of the surprising truths about how money works.
Rupal Patel, co-author of , knows more about the money system than most. She's a Senior Economic Adviser at the Bank of England and she'll take us on a deep dive into the secrets of the heavily fortified vaults.

We'll discuss:

• What a Senior Economic Adviser at the Bank of England actually does all day
• How ordinary banks are able to create money from scratch, and what stops that descending into chaos
• What causes inflation and why one country tried to solve rising prices by asking its citizens to cut all banknotes in half
• How a baby hippo briefly became a global currency, and what that says about the future of money
• What goes on inside the Bank of England during a banking crisis
• What new technologies like crypto mean for the future

Join us for a fascinating deep dive into the world of money. It will be the closest most of us will ever get to the Bank of England's vaults (without setting off any alarms).