10 Quotes From Financial Experts About The Effect That QE3 Will Have On Gold And SilverMichael Snyder, Contributor The same thing is likely to happen again with QE3. In addition, investors now have an expectation that the Fed will continue printing money for the foreseeable future and that the U.S. dollar is going to steadily decline, and that expectation will also likely give further momentum to the upward movement of gold and silver. Of course when it comes to investing, there is never a sure thing and as the global financial system falls apart in the coming years we are likely to see wild swings in the financial markets. So there is definitely an opportunity when it comes to gold and silver, but anyone that wants to invest in gold and silver needs to be ready for a wild ride. In a previous article, I compiled 10 quotes from experts about what QE3 is going to do to the U.S. economy. In this article, I have compiled 10 quotes from financial experts about the effect that QE3 will have on gold and silver. Hopefully you will find some nuggets of wisdom that you can use in these quotes from some top financial veterans. If we see gold move to the $3,400 level, it is not inconceivable that we may see silver closer to $100. Investors have to remember that at the end of the 70s the gold price doubled in a mere five or six weeks. If 3 to 5 years down the line we see that the base policy of the developed world is to continue printing money, then the gloves are off in terms of what levels gold and silver could actually go to. #2 GATAs Bill Murphy #3 Francisco Blanch, a global investment strategist with Bank of America Merrill Lynch, regarding his belief that gold is heading to $2400 an ounce. #4 Morgan Stanley Commodities Analyst Hussein Allidina #5 Peter Schiff, CEO Of Euro Pacific Capital #6 Jim Rogers #7 Deutsche Bank Analysts Daniel Brebner and Xiao Fu #8 Nick Barisheff, the CEO of Bullion Management Group Inc #9 Pimcos Bill Gross And there has been an unlimited amount of paper money over the past 20 to 30 years and now in this period of central bank expansion where its QE1 or QE2, or whether its the LTROs of the ECB or this potential new program then central banks are at their leisure to basically print money. Gold is a fixed commodity that has a considerable store of value that paper money has not. When a central bank starts writing checks and printing money in the trillions of dollars, its best to have something tangible that cant be reproduced, such as gold. #10 Marc Faber Over the past several weeks (both before and after QE3 was announced) we have seen a significant rise in the price of gold and in the price of silver. A lot of very wealthy people around the globe greatly benefited from this move. In a previous article, I quoted an article from the Telegraph that discussed the enormous amounts of money that billionaires George Soros and John Paulson had been investing in gold earlier this year. There was also news last week in an SEC filing that both George Soros and John Paulson had increased their investment in SPDR Gold Trust, the worlds largest publicly traded physical gold exchange traded fund (ETF). Mr Soros upped his stake in the ETF to 884,400 shares from 319,550 and Mr Paulson bought 4.53m shares, bringing his stake to 21.3m. At the current price of about $156 a share, these are new investments of about $88m of Mr Soros cash and more than $700m from Mr Paulsons funds. These are significant positions. And central banks all over the planet have also been hoarding gold. According to the World Gold Council, global central banks added 157.5 metric tons of gold last quarter. That was the most gold that global central banks have ever added to their stockpiles during a single quarter. Could it be possible that some folks knew ahead of time that QE3 was coming? That is a very interesting question. In any event, there is certainly a lot of hoarding of precious metals going on around the world, and without a doubt a lot of financial insiders are very bullish on gold and silver right now. But in the financial world there is never a guarantee that something will happen. For example, if there is a stock market crash in the coming months the price of gold and the price of silver are likely to fall dramatically. Just take a look at this 5-year chart for silver. During the last financial crisis the price of silver dropped like a rock. In fact, it fell by more than 50 percent between late 2008 and early 2009. So when the next stock market crash comes (and it is coming at some point) be prepared for gold and silver to take a tumble. They will print even larger amounts of money of course. And that will once again be very good for gold and silver. So dont let the ups and downs scare you too much. Gold and silver are definitely in for a wild ride, but in the long-term I am extremely bullish on gold and silver. I believe that both are eventually headed into the stratosphere. So what do you think is going to happen to gold and silver? Please feel free to post a comment with your thoughts below. This article first appeared here at the American Dream. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. 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