Peter Schiff and Janet Yellen are two of the most prominent figures in the world of finance. Peter Schiff is an American financial commentator, investor, author, radio host and economic advisor who has been a vocal supporter of Bitcoin since at least 2011. He is also one of the most outspoken cryptocurrency critics. On the other hand, Janet Yellen is an American economist and former Chairperson of the Federal Reserve (2014-2018). She served as Vice Chair prior to that from 2010-2014.
In recent years they have become major players in debates on monetary policy, regulation and cryptocurrency markets due to their contrasting views on these topics. While Peter Schiff has been very critical about central banks’ policies such as quantitative easing (QE), negative interest rates (NIRP) or ultra low/zero interest rates; he holds a strongly bullish view regarding cryptocurrencies like Bitcoin claiming it will eventually replace fiat money such as USD or EURO because it cannot be manipulated by governments or banks like traditional currencies do. In contrast, Janet Yellen has expressed her concerns regarding digital assets citing potential problems with anonymity for criminals using them to launder money, security vulnerabilities associated with storing them online which could lead to theft or hacking incidents.
The debate between both economists usually creates intense discussion among investors since both arguments have valid points; however when it comes down to choosing sides almost nobody remains neutral forcing people into either “Team Yellen” -which favors more regulations- or “Team Schiff” -which advocates for decentralization-. The truth might lie somewhere in between but until then we can only keep watching this interesting battle unfold while trying our best not miss out any valuable insight coming from these experts
