The Grant Williams Podcast

In this episode of The Grant Williams Podcast, I welcome my dear friend Rick Rule into the studio for a wide-ranging discussion about commodities, capital allocation, and the kind of opportunities that emerge when patience meets deep industry knowledge. Drawing on decades of experience in the resource sector, Rick explains why he believes the fundamental case for commodities remains compelling despite years of investor neglect. From copper and oil to inflation, monetary instability, and the lessons of previous commodity cycles, our conversation explores the forces driving supply shortages and why many investors continue to underestimate how difficult and time-consuming it is to bring new production online. Along the way, Rick also shares his thoughts on speculation, risk management, and the importance of understanding not just what you own, but why you own it. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper and Silver Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm…

In this episode of The Grant Williams Podcast, Brendan Ballou returns for a fascinating and deeply important conversation about the rise of forced arbitration and the quiet transformation of the American legal system. Brendan explains how what began as a narrow mechanism for resolving commercial disputes has evolved into a vast private justice system that increasingly shields corporations from public accountability. Through examples ranging from hidden cellphone fees to wrongful-death cases, the discussion explores how decades of court decisions have steadily weakened consumers’ and workers’ ability to challenge powerful institutions—particularly when harms are individually small but collectively enormous. Along the way, he lays out why this matters far beyond the courtroom, touching on incentives, transparency, corporate power, and the broader erosion of trust in public institutions. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper and Silver Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm…

In this episode of The Grant Williams Podcast, I reconnect with Jawad Mian for a deeply thoughtful conversation that moves seamlessly between markets, personal evolution, and the challenge of building an intellectually honest life in an increasingly noisy world. Jawad reflects on his decision to leave Dubai and return to Toronto, explaining how the move forced him to rethink not only where he wanted to live, but also the kind of person and investor he wanted to become. What emerges is a discussion about rhythm, reflection, and the importance of creating enough mental and emotional space to think clearly in a world dominated by speed, outrage, and constant distraction. Along the way, we trace the origins and growth of Stray Reflections, the role of community and conversation in shaping ideas, the importance of remaining flexible, curious, and humble when navigating both markets and life itself and apply all that knowledge and understanding to today’s wild markets – particularly the AI trade and the rocketship that is South Korea’s KOSPI index. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper and Silver Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm…

In this episode of Super Terrific Happy Hour, Steph and I return with our customary blend of easy-going banter coupled with a shameless plug and a sobering assessment of the global financial landscape. What begins with complaints about the cold weather and Seinfeld callbacks, as well as our upcoming live event in St. Petersburg, quickly turns into a candid examination of sovereign refinancing risks, leveraged corporate balance sheets, and a Treasury market increasingly supported not by central banks but by hedge funds and private foreign buyers. As short-term debt dependence grows and refinancing waves collide across governments, corporates, and AI-driven capex, we explain why we continue to sleep better owning gold—and why this moment feels less like a trade than long-term insurance for an unstable monetary age. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper, Silver and Gold Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm… Gold Tier subscribers have access to my new series of in-depth video conversations, About Time.

n the latest episode of The End Game, Bill and I welcome Gerard Minack for a masterclass in macro perspective and market realism. Gerard, founder of Minack Advisors, dissects the current investment landscape—where AI euphoria collides with fiscal fragility and complacent bond markets. Drawing on historical parallels to the late 1990s tech bubble, he explains why today’s optimism may mask structural risks: stretched valuations, rising deficits, and a world growing comfortable with unsustainable debt dynamics. The conversation spans AI’s commercial limits, the growing strain on fiscal and monetary policy, and gold’s curious role as both hedge and mirror of uncertainty, offering a sharp, grounded assessment of what the end game may truly look like for global markets. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper and Silver Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm…

In this episode of The Grant Williams Podcast, I welcome my old mate Ned Naylor-Leyland, long-time precious-metals fund manager, for a detailed discussion on the shifting dynamics of gold, silver, and the mining sector. Ned argues that gold has decisively emerged from a 44-year bear market against Treasuries to reclaim its role as the world’s true risk-free asset, signalling the start of a genuine, structural bull market. He outlines why silver—still lagging behind gold—may soon explode higher, driven by surging industrial demand, physical shortages, and growing Indian appetite, before turning to the extraordinary profitability now building within mining equities. The result is a conversation that reframes precious metals not as relics of the past, but as vital assets in a new monetary era. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper and Silver Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm…

In this episode of The Grant Williams Podcast, I welcome author and entrepreneur Robert Glazer to discuss his new book, The Compass Within—a powerful exploration of how uncovering and living by one’s personal core values can transform leadership, relationships, and decision-making. Robert shares how identifying his own guiding principles reshaped his approach to life and business, and how that experience evolved into a story-driven framework designed to help others find clarity and alignment. Together, we explore the difference between corporate “values” that often ring hollow and genuine personal ones forged through experience—showing how an internal compass, once discovered, can guide people toward purpose, resilience, and meaningful success.

In this long-overdue episode of The Grant Williams Podcast, I’m joined by Larry McDonald, founder of The Bear Traps Report and author of How to Listen When Markets Speak, to explore how extraordinary fiscal and monetary responses have reshaped the investing landscape. Larry argues that the disinflationary era is over, replaced by an inflationary, multipolar world that calls for a fresh approach to portfolios—one that favours hard assets like copper, coal, and natural gas over stretched technology stocks. Our conversation spans the political and structural forces driving this shift, from chronic underinvestment in energy and the policy bottlenecks that worsen shortages, to the rising populism fuelled by inflation. Larry highlights how the makeup of the S&P 500 is set to evolve, with industrials, materials, and energy poised to reclaim influence, while risks mount in areas such as passive investing, private credit, and certain financial stocks. We close by examining the implications of the AI-driven capital expenditure boom, the strain it places on power infrastructure, and what it all means for the dollar, gold, and Bitcoin. The result is a timely, wide-ranging conversation offering investors both a roadmap to today’s shifting market environment and practical insight into how to navigate what lies ahead. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper, Silver and Gold Tier subscribers at my website www.Grant-Williams.com. Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm… Gold Tier subscribers have access to my new series of in-depth video conversations, About Time.