1. All Kindles can now be jailbroken

Total comment counts : 46

Summary

The article discusses WinterBreak, a jailbreak tool for Kindle devices released by HackerDude on New Year’s Day 2025. Here are the key points:

  • Origin and Thanks: The jailbreak was inspired by “Mesquito” and acknowledgments were given to several contributors and beta-testers. There were some casualties, including bricked Kindles during testing.

  • Installation Process:

    1. Preparation: Users are advised to turn on airplane mode, connect the Kindle to a computer, and extract the WinterBreak.tar.gz file onto the device. Ensure the hidden .active_content_sandbox folder is copied for Linux/MacOS users.
    2. Execution: After rebooting the Kindle, open the Kindle Store, disable airplane mode when prompted, and click on the WinterBreak icon. Wait for about 30 seconds for the installation prompt.

  • Troubleshooting: If an “Unexpected error” occurs when accessing the Kindle Store, a solution involving cookies settings is suggested.

  • General Comments: The article notes the inherent risks of using devices, referencing Isaac Asimov’s observation about the dangers introduced with new technologies like speech.

This summary captures the essence of the jailbreak process, its developers’ acknowledgments, and the troubleshooting advice for common issues users might encounter.

Top 1 Comment Summary

The article discusses the use of KOReader on the Kindle Scribe 2022 for reading PDFs. KOReader offers several advantages over the native reader:

  • Enhanced PDF Reading: It provides a superior experience for reading PDFs.
  • Landscape Mode: Features a proper landscape mode where page turns work logically, moving through the current page before advancing to the next.
  • Auto-Rotation: The screen can auto-rotate.
  • Auto-Cropping: It supports auto-cropping of PDFs with adjustable margins, which is highlighted as a significant feature.
  • Contrast Adjustments: Users can adjust contrast for better readability.

However, KOReader does not support handwritten annotations. Overall, for PDF reading purposes, it’s described as perfect.

Top 2 Comment Summary

Here is a summary of the article “Is it worth buying a Kindle now?”:

The article discusses the pros and cons of purchasing a Kindle in the current market:

Pros:

  • Portability: Kindles are lightweight and easy to carry, making them ideal for travel or commuting.
  • E-Ink Technology: Offers a reading experience similar to paper, reducing eye strain compared to backlit screens of tablets or smartphones.
  • Battery Life: Exceptional battery life, often lasting weeks on a single charge.
  • Storage: Can hold thousands of books, which is perfect for avid readers.
  • Cost: Over time, buying books can be cheaper than purchasing physical copies, especially with deals and subscriptions like Kindle Unlimited.
  • Instant Access: Ability to instantly download books from anywhere with Wi-Fi.

Cons:

  • Cost of Device: The initial investment for a Kindle might be high, though there are budget-friendly options.
  • Ecosystem Lock-In: You’re tied into Amazon’s ecosystem, which might not be ideal if you prefer other platforms or formats.
  • Lack of Physicality: Some readers miss the tactile feel of physical books, the ability to lend books, or the aesthetics of a bookshelf.
  • Subscription Dependency: Features like Kindle Unlimited require ongoing subscription payments.
  • Technical Issues: Potential for technical glitches or device failures, though Amazon typically offers good customer service.

Current Considerations:

  • Market Trends: The e-reader market has stabilized, with Kindles holding a strong position due to Amazon’s extensive library and ecosystem.
  • Recent Updates: New models come with improved screen resolution, waterproofing in some models, and enhanced features like adjustable light warmth.
  • Alternatives: Competitors like Kobo or Nook exist, but they might not have the same level of content or ecosystem support as Amazon.

Conclusion: Whether it’s worth buying a Kindle now depends on individual reading habits, preferences for digital vs. physical books, and the value placed on portability and convenience. For someone who reads frequently, enjoys technology, or travels often, a Kindle remains a worthwhile investment. However, for those who cherish the traditional book experience or are less frequent readers, the advantages might not outweigh the costs or the loss of physical books’ tactile experience.

2. Homemade polarimetric synthetic aperture radar drone

Total comment counts : 15

Summary

The article discusses an individual’s project to develop a low-cost synthetic aperture radar (SAR) system using a small, affordable FPV drone. Here are the key points:

  • Background: The author has experience with building ground-based radars and wants to extend this to airborne SAR imaging using drones. Previous high-cost systems, like those discussed in academic papers, were out of budget.

  • Drones: Initially, medium-sized drones were considered, but they were expensive. The author shifted to using a much cheaper, smaller FPV drone from China, costing around 100 EUR, capable of lifting up to 1 kg.

  • Radar Design:

    • The goal is to create a lightweight SAR system that fits within the drone’s size constraints and a budget under 500 EUR.
    • Traditional radar designs are limited by antenna size for achieving high resolution; SAR allows for a workaround by using the drone’s motion to simulate a larger antenna array.
    • The design must be narrow due to the drone’s frame dimensions, which limits the radar’s physical size.

  • Challenges:

    • The small size of the drone limits the radar’s components, particularly in terms of width.
    • Previous designs like the pulse radar are too wide for the drone but could potentially be adapted.
    • Bandwidth and ADC sampling rates are significant constraints for achieving high resolution.

  • Radar Architecture:

    • Options include pulse radar or frequency-modulated continuous wave (FMCW) radar. The author mentions a previous pulse radar design but highlights its bandwidth limitations.
    • An alternative design involves using two ramp generators to manage high RF bandwidth without the need for high-speed ADCs, which is typical for SAR systems.

  • Implementation: The radar needs to be adapted to fit within the drone’s spatial and financial constraints, utilizing common, cost-effective materials like FR4 PCB.

The article concludes with a mention of ongoing design considerations and the inherent trade-offs in building such a system on a tight budget.

Top 1 Comment Summary

The article discusses the significant reduction in prices of small FPV (First Person View) drones, particularly those with 5 and 7-inch propellers, which can now be purchased for around 100 EUR from China, excluding the cost of batteries and remote controllers. These drones are capable of carrying payloads up to 1 kg, suitable for mounting small radars. The price drop is attributed to mass production and sales to both Russia and Ukraine, who are using these drones extensively in conflict, with each side consuming approximately 100,000 drones per month. China benefits from the economies of scale as it supplies both sides with drone components.

Top 2 Comment Summary

The article expresses admiration for Henrik’s extensive work in DIY projects, highlighting his achievements in complex areas like signal processing, hardware development, GPU acceleration, and algorithmic optimizations. The author suggests that Henrik’s contributions are so impressive that they deserve recognition, possibly through an award from the Hacker News (HN) community.

3. Did missing/corrupt dates in COBOL default to 1875-05-20?

Total comment counts : 32

Summary

The article discusses a circulating claim that in COBOL programming, missing or corrupt dates default to the year 1875 or specifically to May 20, 1875, the day the Treaty of the Metre was signed. Here’s a summary of the key points:

  1. Claim Examination: The article investigates if there’s any technical evidence or specification in COBOL that would cause dates to default to 1875. No such evidence has been found, indicating this is not a standard behavior in COBOL.

  2. COBOL Date Handling: COBOL does not have an intrinsic date type; dates were typically represented with six digits, and date handling was managed by programmers or through custom routines. This meant that any default date would likely be due to local programming conventions rather than COBOL’s inherent functionality.

  3. Historical Context: The choice of 1875 might be related to social security systems where individuals born before 1880 were unlikely to be beneficiaries, making 1875 a logical cut-off year for data entry purposes. This practice reflects the optimization of data storage for specific use cases rather than a COBOL standard.

  4. Misconception: The claim that COBOL defaults to a specific date like 1875-05-20 is debunked as overly specific and not practical for general use due to the additional programming effort it would require.

  5. Conclusion: The article concludes that the use of 1875 or any specific date for missing or corrupt dates in COBOL programs is not a feature of COBOL itself but rather an implementation detail based on the needs of specific applications or systems, often related to optimizing data for particular business or regulatory contexts.

In essence, while the year 1875 might appear in COBOL programs, it’s not due to the language’s specifications but rather due to logical data management practices tailored to specific applications.

Top 1 Comment Summary

The article discusses how the Social Security Administration (SSA) is aware of records in their database where individuals have not been confirmed as deceased, yet they still receive benefits. The SSA employs various methods and data sources to decide who should receive these benefits. Despite this, an audit by the Office of the Inspector General (OIG) pointed out inefficiencies, but the SSA disagreed with the recommendations for improvement, stating that most records in question were not currently receiving payments. The article criticizes Elon Musk for using this issue to argue for cuts to the social security program, suggesting his statements might be an exaggeration or a misrepresentation aimed at justifying broader cuts to the program.

Top 2 Comment Summary

The article discusses the Social Security Administration’s (SSA) method of storing and handling dates in their Numerical Identification (NUMIDENT) files. Key points include:

  • Dates in the SSA records are stored in text format using either CCYYMMDD or MMDDCCYY.
  • There is skepticism regarding claims that SSA’s systems convert these dates into a number of days or seconds since 1875, suggesting this might be a misunderstanding.
  • Errors in the system can occur due to missing or incorrectly entered dates of birth, and sometimes death records are not updated, leading to potential inaccuracies.
  • Social Security Numbers (SSNs) are not used as unique identifiers for various reasons, which can cause issues in data processing.
  • The SSA assumes anyone over the age of 115 has died and stops their benefits, making it highly unlikely that there are any 150-year-old beneficiaries.

This summary touches on data management practices at the SSA, highlighting potential errors and assumptions made in their system.

4. San Francisco homelessness: Park ranger helps one person at a time

Total comment counts : 26

Summary

The article discusses the case of Kaine, an unhoused man who has lived in Golden Gate Park for over two decades, becoming a familiar figure there. Park ranger Amanda Barrows, who joined a special detail focused on dealing with unhoused individuals, took a compassionate approach towards Kaine rather than the usual enforcement tactics. Here are the key points:

  • Kaine’s Background: Known as Kevin Horton, Kaine has been living in the park since the late 1990s. He was deeply attached to the park due to his childhood experiences there, which made traditional housing solutions unappealing to him.

  • Traditional Efforts Failed: For years, attempts by park staff and the Homeless Outreach Team to move him out of the park were unsuccessful. Kaine resisted offers for shelter, preferring his life in the park.

  • Amanda Barrows’ Approach: Barrows recognized the inefficacy and cruelty of forcible removal. Instead, she focused on building trust with Kaine, understanding his deep connection to the park, and helping him navigate the complex bureaucratic process required to secure housing.

  • Challenges in Helping the Unhoused: The narrative highlights the systemic challenges in aiding those who are chronically homeless, involving issues like addiction, mental health, and bureaucratic hurdles.

  • Human Effort and Personal Engagement: The story illustrates that helping one person like Kaine requires significant time, personal involvement, and coordination of various services, leading to a broader question about the scalability of such efforts for the thousands living without homes.

The article underscores the complexity of addressing homelessness, suggesting that personalized, compassionate approaches might be necessary, yet it poses the dilemma of how such intensive efforts can be applied on a larger scale.

Top 1 Comment Summary

The article discusses the challenges faced by a homeless, abusive, and drug-using couple in Seattle, highlighting the broader issues of homelessness and inadequate social services in the U.S. The author expresses frustration over the couple’s persistent presence in their neighborhood, which has led to increased local disturbances and public health concerns due to the behavior of the couple and their associates. The article points out the complexity of the situation for the couple, who struggle with addiction and an abusive relationship, making it difficult for them to change their circumstances. Despite the existence of services like the Seattle Unified Care Team, these have proven ineffective in resolving the couple’s issues over a period of four years, underscoring a systemic failure in addressing homelessness and related social problems effectively.

Top 2 Comment Summary

The article discusses the impact of public order issues like homelessness on both the community and personal levels, through the lens of Amanda Barrows’ work and perspective. The author expresses empathy towards the homeless, influenced by Amanda’s balanced approach of compassion and pragmatism. The piece highlights the bureaucratic challenges and policy inefficiencies that hinder effective solutions to homelessness. It also touches on the personal struggle of explaining these societal issues to children, emphasizing a humanistic view of homeless individuals. The main frustration noted is the disconnect between the mental health needs of the homeless and the stringent housing requirements, suggesting a need for more flexible, top-down interventions to address these disparities.

5. How do modern compilers choose which variables to put in registers?

Total comment counts : 10

Summary

The article discusses the Stack Exchange network, particularly focusing on Stack Overflow, and delves into the technical topic of register allocation in modern compilers. Here is a summary:

  • Stack Exchange Overview: The Stack Exchange network includes 183 Q&A communities, with Stack Overflow being the largest, serving as a hub for developers to ask questions, find answers, and collaborate, especially through Stack Overflow for Teams.

  • Compiler Optimization: The article explains that the register keyword in languages like C is now considered obsolete because modern compilers automatically optimize variable placement in registers more effectively than human programmers can.

  • Register Allocation: This is a complex problem in compiler design where the goal is to map program variables to a machine’s limited set of registers. Modern compilers don’t just select variables to place in registers but dynamically use registers to optimize performance:

    • They transform programs into Single Static Assignment (SSA) form where each variable is assigned exactly once, which simplifies tracking variable lifetimes.
    • An example is given where a simple function is converted into SSA form, demonstrating how temporary values are assigned to new variables, making it easier to manage register usage.
    • When registers are limited, compilers must decide how to allocate them based on the lifetimes of variables, often using techniques like graph coloring to minimize register spills and optimize performance.

The article provides insights into how compilers handle register allocation, emphasizing that modern compilers use sophisticated methods beyond simple heuristics, aiming for optimal utilization of hardware resources.

Top 1 Comment Summary

The article points out that while graph coloring, which is used in register allocation, is an NP-complete problem, there are polynomial-time solutions available for register allocation when the constraint of not moving variables between registers is removed. These solutions are now commonly implemented in modern compilers.

Top 2 Comment Summary

The article discusses the complexity and elegance of register allocation in compiler design, highlighting a memorable Stack Overflow answer on the topic. It mentions the use of graph coloring as a method for register allocation, which was introduced in 1981, and reflects on how this was taught in a class about 13 years ago. The author appreciates the simplicity and beauty of this approach. Additionally, the article touches on code generation challenges and notes that their class final project involved working with a register-based VM, specifically citing Lua’s VM and mentioning the simplicity of MIPS assembly over Y86 due to more available registers.

6. Umami is a simple, fast, privacy-focused alternative to Google Analytics

Total comment counts : 30

Summary

The article provides an overview of Umami, described as a simple, fast, and privacy-focused alternative to Google Analytics. Here are the key points:

  • Documentation: Users are encouraged to read the documentation for detailed instructions and available qualifiers.
  • Setup: Instructions are given for setting up Umami, including creating an .env file and specifying database connection URLs. Initial setup includes creating necessary database tables and an admin user.
  • Running the Application: By default, Umami runs on http://localhost:3000. Users need to either proxy requests or change the port to serve it directly.
  • Docker Support: Instructions for building and running Umami in Docker containers with PostgreSQL or MySQL support are provided.
  • Updating: Users can update Umami by pulling new images, installing new dependencies, and rebuilding the application.

The article emphasizes ease of setup, privacy, and the ability to manage the application through Docker for both new installations and updates.

Top 1 Comment Summary

The article discusses the author’s decision to shut down a companion app they developed for a game they had reverse engineered. Over the past few months, this app provided:

  1. Insights into the game, available via a link.
  2. Detailed, interactive gameplay logs sourced from “Umami” analytic events.

The developer experienced several challenges with Umami, a tool they used for analytics:

  • They had to significantly modify Umami due to its lack of certain features and performance issues.
  • The project had numerous bugs, which were highlighted when stricter TypeScript settings and additional linting rules were applied.

Despite these issues, the author appreciates the existence of Umami, modified it heavily for their specific needs, and even contributed by helping diagnose a problem in the upstream project. The shutdown of the app was noted, but the reasons for the shutdown are not explicitly stated in the provided text.

Top 2 Comment Summary

The article mentions a collection of privacy-respecting web analytics tools listed on European Alternatives, including Pirsch, which is owned by the author. The author has been involved in the analytics field for about three and a half years and offers to answer any questions about these tools.

7. X users are unable to post “Signal.me” links

Total comment counts : 61

Summary

Elon Musk’s platform X (formerly known as Twitter) has begun blocking links to “Signal.me,” a URL used by the encrypted messaging app Signal for direct user contact. Here are the key points:

  • Blocking Mechanism: X blocks “Signal.me” links across various methods including DMs, public posts, and profile bios, with users encountering different error messages depending on the X platform version they are using. The errors suggest potential harm, spam, or malware.

  • User Experience: When attempting to post or click on “Signal.me” links, users are either blocked or warned about potential risks, although they can choose to proceed to the link.

  • Scope of Ban: Only “Signal.me” URLs are affected; other Signal URLs like Signal.org remain accessible. Links to other messaging services like Telegram are not blocked.

  • Timing and Notice: The block seems recent, with the issue first noted by security researchers on February 16.

  • Implications for Journalism: Signal is crucial for secure communications, particularly for journalists and whistleblowers. The block could hinder secure information sharing.

  • Workaround: Users can still share their Signal handle on X for others to manually enter into the Signal app.

The article ends with a critique of the situation, suggesting irony in the context of “free speech” and proposing a technical workaround using base64 encoding.

Top 1 Comment Summary

The article discusses Twitter’s potential reasons for banning links to Signal’s URL shortener, signal.me. The author speculates that this might not be due to malicious intent but rather an automated system error. Here are the key points:

  1. Disclaimer: The author expresses a strong dislike for Twitter’s current management but is not defending their policies.

  2. Automated Safety Measures: Twitter uses automated systems to protect against unsafe URLs. These systems might mistakenly ban legitimate services if a significant number of links from those services lead to harmful content.

  3. Signal’s Growth: As Signal grows, the number of both legitimate and illegitimate links from signal.me increases, potentially triggering Twitter’s automated ban.

  4. Conspiracy Theory: The author mentions a speculative scenario where Twitter’s ban could be a deliberate act to hinder Signal’s growth, though Twitter could easily dismiss this by claiming it was an overzealous automation mistake.

  5. Automation Issues: The effectiveness of these automated systems could be compromised due to the loss or reduction of expert teams following Twitter’s acquisition and layoffs.

The summary suggests that while the ban could be a legitimate error in Twitter’s automated URL protection, there’s also room for speculation on whether there was an underlying motive, masked by the explanation of automation gone awry.

Top 2 Comment Summary

The article discusses the usage of a platform referred to as “X” in the US, questioning its continued relevance and the reasons behind people’s loyalty to it. It implies that there might be negative consequences associated with using this platform, suggesting that by continuing to use it, users might be indirectly contributing to some form of detriment to their own country. The tone seems critical, possibly hinting at broader implications or controversies surrounding the platform’s ownership or its impact on society. However, specific details about “X,” its functionalities, or explicit reasons for its use are not provided in the text snippet.

8. Javier Milei backtracks on $4.4B memecoin after ‘insiders’ pocket $87M

Total comment counts : 29

Summary

Argentina’s President Javier Milei inadvertently caused a massive spike and subsequent crash in the market cap of a memecoin called Libra by tweeting about it. After his tweet, Libra’s market cap soared to $4.4 billion and then plummeted by over 95% within hours, resulting in a loss of $4.5 billion in retail investor capital. Following the chaos, Milei deleted his tweet and clarified that he was unaware of the project’s details and had no connection to it. The incident not only led to significant financial losses for Libra holders but also negatively impacted other memecoins like TRUMP, which lost $500 million in market cap shortly after Libra’s fall.

Top 1 Comment Summary

The article discusses the differences between the financial dealings of Donald Trump and Javier Milei, the current President of Argentina, focusing on their respective cryptocurrency ventures:

  1. Nature of Promotion: Unlike Trump who promoted $TRUMP as a memecoin, Milei presented his cryptocurrency as a financial tool to support small businesses in Argentina.

  2. Timing and Ethics: Trump promoted his coin before taking office, whereas Milei, already in office, engaged with the cryptocurrency, raising ethical and possibly legal concerns about his actions.

  3. Market Manipulation: The article notes that 80% of the cryptocurrency’s market share was held by just 10 accounts, which suspiciously made transactions immediately after Milei’s tweet, suggesting insider trading.

The text raises questions about Milei’s involvement, whether he was a victim or part of a scam, especially given his meetings with the coin’s creators. It criticizes his judgment, competence in finance, and the implications of promoting such financial instruments on his official account. The article aims to provide an alternative perspective to the often overly positive views of Milei’s economic strategies, highlighting his potential incompetence in areas outside his supposed expertise.

Top 2 Comment Summary

The article discusses the risks and realities of investing in cryptocurrencies, specifically focusing on a scenario involving a cryptocurrency named $LIBRA. Here are the key points:

  1. Speed and Insider Trading: The article suggests that the short time frame in which $LIBRA was available for purchase made it nearly impossible for outsiders to invest significantly. Those who lost money were likely experienced in trading memecoins, and those who profited were probably connected to the project’s insiders.

  2. Lack of Regulation: The author points out the irony in cryptocurrency enthusiasts advocating for a market without regulation but then complaining when they fall victim to schemes like rug pulls, where project leaders or insiders pull out investments leaving others with worthless assets.

  3. Proof of Investment: There’s skepticism about claims of widespread financial loss among regular Argentinians, as no transaction hashes have been produced to prove investment in the project.

  4. Government Responsibility: Criticism is directed towards government officials for not conducting thorough investigations before promoting or engaging with these risky financial ventures.

  5. Market Cap vs. Actual Investment: The article clarifies that the often-cited “market cap” of cryptocurrencies like $LIBRA does not reflect the actual amount of money invested but rather an extrapolated valuation based on total token supply.

  6. Historical Context: A reference to a previous scandal involving a vice-president attempting to steal a company is used to underline the culture of corruption and lack of due diligence in Argentina.

In summary, the article critiques the crypto investment culture, highlighting the dangers of unregulated markets, the likelihood of insider manipulation, and the need for greater scrutiny and responsibility from both investors and government officials.

9. You’re not a senior engineer until you’ve worked on a legacy project (2023)

Total comment counts : 77

Summary

The article discusses the author’s experience with working on a legacy software project, highlighting various challenges and insights gained:

  1. Team Dynamics and Practices: Despite generally good practices, the team faced issues like trivial pull request suggestions, operational mistakes, and rushed feature requests from the product owner.

  2. Legacy Project Challenges: The project involved an old Java application in maintenance mode, using outdated Ant build files which contrasted sharply with modern build tools that follow “convention over configuration.” This led to reflections on how current projects could benefit from similar simplification.

  3. Technical Debt and Modern Practices: The team had to integrate metrics into the legacy system, which required understanding and adapting to the older codebase’s lack of modern practices like dependency injection, leading to considerations about the use of design patterns like singletons versus more contemporary approaches.

  4. Deployment and Testing Issues: The deployment and testing processes were not streamlined, requiring separate teams for these stages, which delayed the project significantly. This situation prompted thoughts on the benefits and drawbacks of separation of duties in software development.

  5. Learning Experience: The project, although frustrating, provided a deeper understanding of software development practices, the evolution of tools, and the importance of efficient workflows from development to deployment.

The article concludes with the realization that while working on legacy projects is often disliked, it offers valuable lessons about current methodologies and can inspire improvements in ongoing projects.

Top 1 Comment Summary

The article discusses the challenges and perceptions associated with working on legacy software projects:

  1. Developer Attitudes: The author notes the often dismissive and snarky responses from developers on forums, suggesting a lack of empathy or understanding for those dealing with complex legacy issues.

  2. Legacy Projects: Not all legacy projects are problematic to work on. Sometimes, the main challenge is in setting up the development environment (like managing makefiles or resolving header file conflicts), but if someone else has already navigated these issues, it can be less painful.

  3. Experience and Competence: There’s a critique of “Senior” developers who might be experienced but not necessarily skilled or innovative, having learned to deliver subpar products due to poor mentorship or outdated practices. This often leads to a culture where bad practices are perpetuated.

  4. Corporate Environment: The author highlights the frustration in corporate settings where developers are expected to manage and fix poorly written code, like overly long stored procedures, with minimal documentation or context.

  5. Tech Debt: There’s mention of how companies sometimes view ongoing support for legacy systems not as a problem to be solved but as a business-as-usual (BAU) activity, ignoring the accumulating technical debt because there’s no business incentive to address it fundamentally.

Overall, the article conveys a sense of frustration with the state of software development in some corporate environments, where legacy systems and poor practices are often maintained due to a lack of incentive or understanding from the business side to invest in better solutions.

Top 2 Comment Summary

The article discusses a strategy used by an embedded engineer starting a new job. The engineer chooses to work on outdated or problematic legacy products that other employees avoid. This approach offers several benefits:

  1. Learning Opportunity: It provides a deep dive into the company’s project management and problem-solving history, revealing the challenges (referred to as “ghosts”) the company has faced.

  2. Understanding Business Logic: Working on these projects exposes the engineer to the business logic embedded in the product, which is often documented, offering insights into how the business operates.

  3. Career Security: By mastering these less desirable projects, the engineer creates a niche for themselves, effectively building a “moat” around their position within the company, making them indispensable for that particular knowledge area.

10. Gold Is Worth More in New York

Total comment counts : 11

Summary

The article instructs users to confirm they are not robots by clicking a box, ensuring their browser supports JavaScript and cookies, and not blocking them. It also advises users to review the Terms of Service and Cookie Policy for more information. If there are issues, users are directed to contact the support team with a provided reference ID.

Top 1 Comment Summary

The article discusses the operational differences and recent activities between the COMEX and the London gold markets:

  1. COMEX vs. London Market: COMEX primarily deals in paper transactions with most positions closed before settlement, whereas the London market handles both paper transactions and significant physical gold deliveries, often just through transferring warehouse receipts.

  2. Increased Physical Deliveries: Since November 2024, there has been an unusual increase in clients, often through JPMorgan, standing for delivery at COMEX. Notable deliveries included 62 tonnes post-Thanksgiving 2024, and JPMorgan planning to take delivery of 93 tonnes in February 2025.

  3. Logistical Challenges: The surge in demand for physical gold has led COMEX to struggle with sourcing enough gold, resulting in an increase in gold prices in the US, creating an arbitrage opportunity with London. This necessitated physical gold to be flown from London to New York.

  4. Alternative Delivery Options: If COMEX cannot deliver physically in New York, they might resort to an “Exchange For Physical” (EFP) process, where clients receive a promise of gold delivery in London instead. This process raises questions about client discretion and potential forced acceptance.

  5. Reputation Risks: The article notes that COMEX has the option to cash settle delivery requests, but doing so could be viewed as a default, potentially damaging its reputation as a market that guarantees physical delivery.

Top 2 Comment Summary

The article discusses several key developments in the gold market:

  1. China’s Role: China has recently established a new gold exchange and is pushing to increase its activity in the gold market, signaling a shift towards more Asian influence.

  2. Central Banks: Since around 2007, central banks have been net buyers of gold, indicating a growing interest or strategic accumulation of this asset.

  3. Geopolitical Impact: The US’s seizure of Russian assets due to the Ukraine conflict might increase the perceived risk of holding US dollars, potentially affecting the gold market. This situation might lead to a tipping point where countries could look for alternatives to the US dollar, possibly influencing gold’s value or demand.

  4. Market Dynamics: The gold market is described as being in a state of flux, with movements suggesting a revolt against the traditional dominance of the US and British in the gold market. This is interpreted as productive capital shifting towards Asia, particularly with the rise of BRICS countries (Brazil, Russia, India, China, and South Africa).

Overall, the article portrays the gold market as undergoing significant changes influenced by geopolitical strategies, economic policies, and shifts in global economic power.