Below is the first part of the written testimony from the big silver short HSBC for today's testimony. Imagine that, they are here to say limits aren't needed LOL.

stateside

We understand that the primary focus of the Commission’s examination and, more specifically, today’s hearing is the potential application of federal speculative position limits to the metals markets. HSBC believes that the adoption of speculative position limits for precious metals is not necessary. Such limits are unnecessary "to diminish, eliminate, or prevent" excessive speculation that may cause "sudden or unreasonable fluctuations or unwarranted changes" in the prices of these products and, as explained below, could be counterproductive. (Commodity Exchange Act, section 4a(a))