In this episode we decode the often quoted figure of $600 billion annual remittances in 2017, to understand where this number comes from and how it’s calculated. We also cover the informal money transfer industry or ‘hawala’ system and discuss how to interpret the global cost of remittances.Sponsors:Otter Labs www.hireotter.com- Hire great and inexpensive developer with staff augmentation through Otter.Redeeem https://redeeem.click/qdza- Redeeem is a decentralized peer-to-peer exchange that lets you save 15% or more on gift cards using Bitcoin and other cryptocurrencies.Learn more about your ad choices. Visit megaphone.fm/adchoices