Fedwire
US real-time gross settlement system
Episodes
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#6015: How Banks Move a Million vs a Billion DollarsA million and a billion are the same number to a computer. The difference is liquidity, netting, and where the payment actually settles. -
#5441: Dollar Plumbing: Why Bessent's Iran Threat Has TeethOne line from Treasury can ground an airline worldwide. The reason lives in New York's clearing houses, not the currency itself. -
#4310: What Actually Happens When You Tap Your Phone to Pay94% of money exists only as digital IOUs. Here's how the system actually works when you tap to pay. -
#4309: Where Does Your Money Go During Those Three Days?Your money doesn't move during a transfer. It's just ledger edits waiting for trust. Here's why. -
#3346: How $500M Trades Actually Work (Not Venmo)No, fund managers don't have a "send $50M" button. Here's the actual plumbing behind $145 trillion in assets. -
#1025: The Three-Day Money Gap: Why Banking is Still So SlowEver wonder why digital money takes days to move? Explore the hidden friction of the global banking system and the race for instant speed.