Peter Schiff talks about Goldman Sachs’ recent decision to increase the potential of a Fed rate hike odds to 95%.

Schiff points to Yellen’s recent comments, explaining that the reason the Fed feels confident enough to raise rates is due to the Dow being at 21,000. Peter reminds investors what happened last time the Fed was confident in 2015, and that the market tanked after the Fed threatened to raise rates. This time around, the market remains unphased by the threat of a looming rate hike and is continuing to rally.

Schiff begins his latest podcast, from March 3rd, talking about the divergence between physical gold and gold stocks. With gold holding relatively steady, gold stocks have tanked in recent sessions. The GDXJ was down a whopping 6% Monday, March 6th.

Schiff contends that gold stocks may be acting as a bellwether to the metal itself. Schiff thinks we are at the beginning of a bull market in gold stocks, not the end.

Note: The GDXJ had declined 22% in recent weeks (prior to today), compared to just a 3% decline in the price of gold.