TheRoyaltyKing, Released on 4/14/26 (Recorded on 4/13/26)

Grant Williams, author of Things That Make You Go Hmmm and one of the most respected macro thinkers in finance, joins The Royalty King Report to break down the investment signals that matter right now and why he believes we’re entering a fundamentally different era for capital. We cover the age of scarcity, the end of abundant liquidity, why all roads lead to inflation regardless of the path, and what the shift from financial assets to real assets means for your portfolio. Grant also shares his unfiltered view on capital controls, gold’s structural bid from central banks, the death of the 60/40 portfolio, and why the difference between buying gold and owning gold is one of the most important distinctions in investing.

(Timestamps are below the video)

00:00 — Welcome & intro: signal vs. noise in macro
01:00 — Trump, personality-driven markets & separating the message from the messenger
05:49 — Iran, oil spikes & why good traders are loving this environment
07:43 — The age of scarcity: from abundance to every nation for themselves
12:33 — The commodities bull market: why this time feels like the real deal
14:45 — Higher for longer commodities & the capex drought with Rick Rule
17:04 — “Need beats greed” — Jeff Gundlach’s insight that stuck with Grant
18:10 — Sovereign debt, rolling $1T+ in bonds & the liquidity addiction
23:43 — Can central banks ever truly tighten again?
25:51 — Gold above treasuries in reserve portfolios: what’s really driving it
28:47 — Gold to $5,500 and back: why everyone’s asking the wrong question
30:52 — What finally drives retail to own (not just buy) gold
34:09 — Inflation vs. deflationary crash first: why it doesn’t matter
37:45 — The death of 60/40: Morgan Stanley’s 60-20-20 & what comes next
40:06 — Capital controls: how they get implemented & what Westerners don’t understand
44:33 — Stablecoins, the GENIUS Act & gold-backed tokens — freedom or a trap?
47:59 — Stablecoins as dollar demand engineering: Brent Johnson’s case & the other side
49:03 — What would make Grant change his mind? Rechecking the thesis on gold
52:53 — “Get rich quick vs. stay rich slow” — the most important distinction in investing
56:36 — Where to find Grant Williams

Grant Williams is a portfolio and strategy advisor to Vulpes Investment Management in Singapore and an Advisor to Matterhorn Asset Management in Switzerland and the founder and publisher of Things That Make You Go Hmmm… and the Grant Williams Podcast. Grant has decades of experience in finance on the Asian, Australian, European and US markets and has held senior positions at several international investment houses, including Robert Fleming, UBS and Credit Suisse.

  commodities, gold, Grant Williams, investing