While we're at it, when did central banks start to buy lots of gold and under which POTUS? Could it have something to do with the freezing of hundreds of billions of some sovereign assets?
There is something awfully bad happening to the internet, including Hacker News.
It seems like rage-baiting, polarizing titles and vibe based comments are being upvoted, with no interest in the facts. For example, in this case:
1. The growth of the gold reserve in comparison to US Treasuries have very little to do with growth in gold acquisition, and has everything to do with gold more than doubling in price in a year.
2. To make it even worse, gold has since fluctuated in value, and treasuries overtook gold momentarily just a week ago. These price fluctuations has nothing to do with geopolitics.
3. Central bank buying of gold has been trending down in the last year, down 21% from 2024. So far in 2026 it's been going even lower.
4. Gold owned by central banks was higher than US treasuries in the 90s (this is mentioned in the article at least).
This is a little meta - but the thing that bothers me is that this low quality discussion like in this thread is spreading everywhere with the same mechanism - bring politics and polarization into every place, no matter how tangentially related it is.
Side stepping a little, but the Twitter and Reddit exoduses brought in a lot of people with established culture and communication dynamics at discrete periods. I considered writing an extension that collapses comments of accounts based on keywords and creation date, but ultimately decided that was regressive.
I think it's important to recognize how much the world has changed in a short period of time. HN was created when SV was unique, a large fraction of the globe was not on the internet, and web tech was new and novel. Everyone was still figuring out how to handle outreach and networking (I was positive it was a scam when the Omiyadar Network cold contacted me - "who does that?"). Today, I meet kids who made their first commits at the same age I was just trying to find friends in town who had computers. Now, our advanced is their common, and they're growing up primed for engagement-forward networking and self-promotion.
HN isn't a calcified relic of the era when it was created, it's a product of its people. We're seeing the new generations connecting from all over the world at a time when the foundational HNers are fading away, and sometimes when there's friction with my expectations of civility and etiquette in discourse and it feels like the noise is drowning out the signal and I yearn for the smaller, quieter days, I take that as my queue that I need to step back and appreciate that this is their time, too.
I think there are less experts on HN than years ago or a decade ago. And the culture of HN is getting slightly changing to a more Reddit culture every year.
It’s too bad because it’s the only place I know where you have experts in tech but also in other industries. And where I got very interesting discussions.
There's unfortunately someone who is posting some HN articles in a hackernews subreddit. I think that's contributed to the rise of Mr. Hot Take One-Liner Mic Drop, that posts something with 20 one liner replies, always at the top. If that continues happening I'm out.
One interesting factoid, since I can remember on HN, if you ever likened a conversation to Reddit they'd downvote you to grey. There are two ways to read that - Reddit is fine, don't criticize it; Reddit is embarrassing, don't diminish the conversation by comparing us to it.
Thanks appreciate the broader context in this post. As to your meta comment, besides bots, I think a lot of people are facing a great deal of pain and fear. They're emotional and even in hn a critical mass has switched to reading and writing with their gut. Good vibe project, analyse the level of emotionality in comments over time, I'd bet it's gone vertical in the past few months.
I agree with your "sensationalism is bad" take; especially as meaningful, non-incendiary comments now often get quickly downvoted for viewpoint, not tone (IMO downvoting should cost 0.1-0.3 karma). But not with "nothing to see in CB gold holdings fluctuations" view:
R1. But central bank gold holdings are rising organically, and partially at the expense of US treasuries. CB gold holdings have been dropping for 35 years, until about 2015. The price rise of gold from 2005 to 2015 did not reverse this trend. From 2015 to 2019 gold price did not rise, but reported holdings did. The recent doubling of the gold price muddies things a little, but the trend is clear.
R3. Reported gold purchases have trended down in 2025 and 2026, probably due to price doubling. But they are still positive. Emerging markets did not sell into this strength to build up more liquid holdings (UST) as more effective tools to support their economies against future malaise. Even "trending down" part is muddy, too, because some countries CB do not report it. China, an elephant in the room, started better obfuscating its holdings, including gold, since COVID.
R4. Yes. Gold owned by CB strognly trended down since 1980. That trend stopped in 2005 and reversed somewhere between 2005 and 2015. And likely accelerated in the last few years.
As a side note, I personally see USTs losing dominance as a reserve asset as a good thing. USG needs some checks on its spending, and world being willing to buy long dated treasuries at below inflation rates incentivizes the "we do not need to solve real problems, we can just print more money" mindset. My 2c.
Well, having tracked soft-science experts for 30 years, I have to say they're wrong over 50% of the time. Moreso, if it's coming from media that's owned by the same country that is causing evil.
>everything to do with gold more than doubling in price in a year.
Gold's price doesn't change, it's 42 2/9 US Dollar per fine troy ounce[1], and has been since 1973.
The problem is that this exchange rate hasn't been enforced, or adjusted since then. This allows the spot price to set the effective price of the dollar in a reciprocal arraignment.
Since, the "Gold Window" was closed by executive order, I posit that, In theory, Donald Trump could get a bunch of conspirators together, with 10.4 Billion in cash (the "Book Value" of the US Gold Reserves), and direct the Secretary of the Treasury to re-open the gold window, in private, and drain the US reserves, personally.
Edit: Nope... the law changed, thank goodness.
If the US somehow re-anchored the Dollar to Gold, the deflationary collapse would crush the economy everywhere, instantly, as all dollars outstanding would increase in real value by a factor of >100, and all debts would crush most people, companies, and economies.
So, realistically, if we wanted to re-anchor the dollar, the new value would have to be greater than the current spot price. To fully back all dollars outstanding, it would be somewhere between 50,000 and 150,000 US Dollars per fine ounce.
I had previously expected this to happen a generation from now, but thanks to the complete collapse of institutional memory, and the current administration, I now expect it to happen before the end of the next administration.
Everything is politics. Which makes people who want to avoid it look delusional.
As for polarization that's been the modus operandi in my country for at least 500 years.
Everyone hates everyone but the alternative was the French, English or Spanish so what can you do?
Turns out you actually really don't need to love your neighbour.
This is mentioned often, but is also such a broad generalization that it is not constructive in any meaningful way. If everything is politics, then it can be eliminated from both sides of the equation. Focus on real and immediate problems at hand and providing concrete solutions need not have "politics" label slapped onto it by default, esp. where the ideological infighting this attracts complicates having open and frank discussions based on the facts. "Politics" has become a weaponised word often used to derail good initiatives, and with great success. The mindset that everything is politics may be contributor to that.
This is just HN. We're explicitly not productive or constructive. We're not solving the world's problems. We're just shooting the shit. This is a forum for wasting time. I guess it wouldn't be HN without the delusions of self-importance.
Everything you want to be politics is politics. Caring for other people shouldn't be politics. Being a decent human being shouldn't be politics. There are plenty of things that aren't politics unless you decide you want to turn them into politics.
The issue is when you get down to the edge cases, you get into politics again.
Is ‘caring’ (what does that mean exactly?) for someone on death row good or bad? You’ll likely find splits in answers along ‘political’ lines, especially depending on things like the nature of the crime, who the victim was, etc.
Is ‘caring’ (again, in what way?) for someone in Palestine good or bad? Or worth how much money to do? Similar split. How about Iran?
What about someone in the inner cities? Who doesn’t work?
Etc.
Hand wavy general statements are easy to have, but when it gets down to actual implementation is when real groups of people start to have very different concrete opinions on how it should be done.
You’ll also find lots of shaming among the group and against ‘outsiders’ trying to enforce idealogy. And if you think that part doesn’t happen, just read your own comment - it’s a mild form of that!
caring: (adjective) displaying kindness and concern for others.
If you look at this definition of caring and find a way to turn it into a politics issue that's your problem, not mine.
If you scale a problem up, then yes, you get into politics. If you scale it all the way down, politics disappear. If you see your next-door neighbor struggling with something and you can help, you should. That's not politics. That's called being a decent human being.
> Hand wavy general statements are easy to have
I agree. In fact "everything is politics" is a stupid, hand wavy statement.
> You’ll also find lots of shaming among the group and against ‘outsiders’ trying to enforce idealogy. And if you think that part doesn’t happen, just read your own comment - it’s a mild form of that!
Disagreement != enforcing ideology, at least in my world. And if you don't see it that way, then I guess you're guilty of doing the precise thing you're commenting on.
Under that definition, ‘Caring’ can mean anything from hopes and prayers to major economic sacrifices.
With that struggling neighbor, are you talking about helping them take out their trash at night when they’re tired - or paying unemployment benefits for years?
Notably, in my experience, the ones who talk the most usually just keep talking - and aren’t the ones on the hook for actually doing the hard caregiving when things are really tough. But hey, maybe you’re different?
One big difference we have here is you’re again talking hand waving generalities, and I’m talking concrete economic behaviors and policy. It’s easy to say ‘if you can help you should’, it’s harder when it’s ’where is the line for “can” and “should” exactly when we’re talking millions of people and trillions of dollars’, and people you’ll likely never meet in your life - and taxes that definitely come out of your paycheck each month.
Move the line too much one way, and it incentivizes being a victim. Move it too much the other way, and it crushes people with legitimate problems. Both are real issues.
What produces this Iranian "mercy" at a time when Iran is extensively bombed, if not a combination of defensive and offensive capabilities providing escalation dominance?
If they strike desalination plants, Israel/us can do the same … really mass casualty event could follow.
And they might, at some point the Iranian gov might feel desperate enough to be like “fuck it, we have nothing to lose” … Dubai could end up with a lot more graves.
Almost all of their water comes from these plants, and humans can’t survive without water for more than 3 days …
There are reserves/stores sure, but how long will they last, and which part of the population do they cover? In a week you could have thousands of civilians dead on both sides.
So MAD keeps things in check.
I think this is whaly Iran has invested so much into rockets - they are very ineffective at providing decisive military victory by themselves, but without them, Iran will be at Israel’s mercy, and they have proven to not possess that in great amounts lately
My parents and my spouse's parents were all in their late 30s having children, now we're in the same position due to infertility and now finally going through IVF. We're happy it's working but at the same time it's sad knowing they'll grow up never really knowing their grandparents.
The grandparent situation is sad af. It's also pretty sad being a mid-40s year old dad that doesn't have the energy to keep up with their kid. I pitched a little league game yesterday and it wiped me out. Also, the fact I (and you) will not know our grandchildren very well also is quite sad.
If my son has his first kid the same age I had him, I'll be in my 80s when that kid is starting little league (or that age). Then, factor in the fact that I don't know of any men in my family that have lived past 80 and it gets really grim. They were all heavy smokers and drinkers I remind myself with fingers crossed.
The most sad part for me, is I realized by delaying parenthood - I was just being selfish - and the net result is I minimized "shared time on earth" with the person I love the most. It's easy to say I wouldn't have been a good parent or I wanted X job/income first, but it's all just excuses and selfishness.
As a soon to be father, all i can say is don’t do this to yourself man! Remember to give yourself grace and kindness. You made what you thought was the best decision at that time. Maybe it was sub-optimal, but don’t try to min-max life. The “what if” game can be a fun game if it’s done with curiosity, but don’t let it consume you. just isn’t worth it.
>by delaying parenthood - I was just being selfish.. I minimized "shared time on earth"
Exactly. My advice to anyone is not wait. If we hadn't, we would have found out sonner that we needed to go through that process. It's not a "wake up and schedule an appointment tomorrow" kind of thing, it's a treatment of last resort and you can burn years trying, going through evaluations and alternatives first.
Yeah I give same advice, if you know you want kids and found your partner just start soon. We didn’t have many fertility issues just weeding out some unfortunate genetics, but I’ve seen people try for years and it’s really taxing on both the individual and relationship.
The stuff we weeded out was on my wife’s side and the boy ended up being my clone. We joke about it as if we weeded out all of her genes. Even small things like his cowlicks and how his teeth are coming it are exactly like mine which I never would have expected to even be possible (I never gave it much thought tbh)
If you had kids earlier, you wouldn't get more time with the specific person you love that is your son, you'd get more time with a different son. No doubt you'd love your counterfactual son too. But you shouldn't feel bad for having done any wrong by your real kid. This is the only timeline he could exist in.
Bit of a thorny philosophical argument, maybe, but reasonable in this case.
Have considered that as well but shared time with that person would have been more and I would be none the wiser to the actual timeline, so I feel it’s appropriate to treat them as the same “child” instead of theoretical kid vs actual kid and how I’m happy I waited because this kid is so cool, pretty sure I would have felt the same towards the other kid (who knows maybe not but even if he was a jerk of a kid I’d assume a delayed child would have also been a jerk too)
> ...but shared time with that person would have been more
Sticking to the philosophical arguments, having the kid at any other time, even earlier would not guarantee more time with them. It would have drastically shifted your life events which could include ones that possibly shorten it.
Time and guarantees are oil and water, it’s without saying. I don’t even know if you’ve lived long enough to witness this message I’m writing. I’m writing it anyway.
Maybe he was born 10 years earlier and I die in a car crash on the way to the hospital. It’s possible of course I only am alive because I wasn’t on the way to the hospital. While I agree with you on a philosophical point, sure, the fact is I was the one actively choosing to not have kids yet and waiting for some later date. So, I was in much more control of the situation than this philosophical hypothetical or alternate timeline. So, having regret or sharing what I learned from choices I have made still seems like the best choice. I don’t live by thought exercises.
But you live with regret and rumination and thinking up possible future scenarios; that and "living by thought exercises" are two sides of the same coin -- if not the same side. Which is what the argument was meant to playfully point out, in its round-a-bout philosophical way. You can get up to thinking of all the sci-fi timeline altering stuff of the past the same as you can carry regret from thought exercises directed toward future events, thus getting in your feels and self-berating.
It is all thought exercises. The other option is to release the burden of guilt and simply enjoy the timeline you have now. Kids sense these things that their parents carry. Anyway, in no way was I implying your experience or feelings or sharing is wrong or judged
"Coding" is solved in the same way that "writing English language" is solved by LLMs. Given ideas, AI can generate acceptable output. It's not writing the next "Ulysses," though, and it's definitely not coming up with authentically creative ideas.
But the days of needing to learn esoteric syntax in order to write code are probably numbered.
I searched for some pictures. The first couple I came across looked like the result of a prompt to an AI: "generate images of plastic honey bears with various outfits and/or accessories":
Yeah I mean, they are cute little graphics and a fun character/brand, but I don’t exactly see how people consider this some masterful piece of artwork. I don’t live in SF, but I can imagine it gets old to see it everywhere.
The idea that someone is a snob because they dislike generic looking artworks is a hilarious indicator of how far aesthetic discussion and standards have fallen. The word used to mean someone that looks down upon the popular arts in favor of more traditional/expensive/sophisticated art.
Now apparently it means having any standards or metrics of evaluation, period. Either you think everything is equal aesthetically, or you’re a snob.
Thankfully this kind of empty opinion isn’t convincing many people these days.
I’m not “shaming someone’s work,” I said 1) they look like generic graphics, and 2) I primarily said someone isn’t a snob for disliking them, which is what the OP comment claimed.
Even then, analyzing a piece of art work is called art criticism. It’s not exactly a new thing, nor is it some kind of personal attack.
But as I said above, the quality of aesthetic discussion has fallen so much that expressing any critical opinion, no matter how minor, is some kind of shaming attack that indicates I have a personal problem or I’m a snob. Which is a totally insane way to view the world.
Snobbery is a spectrum. You might not perceive your words as snobbery, but I do. We just have a different opinion of where you fall on that snobbery line.
"Ironically, among the four stages, the compiler (translation to assembly) is the most approachable one for an AI to build. It is mostly about pattern matching and rule application: take C constructs and map them to assembly patterns.
The assembler is harder than it looks. It needs to know the exact binary encoding of every instruction for the target architecture. x86-64 alone has thousands of instruction variants with complex encoding rules (REX prefixes, ModR/M bytes, SIB bytes, displacement sizes). Getting even one bit wrong means the CPU will do something completely unexpected.
The linker is arguably the hardest. It has to handle relocations, symbol resolution across multiple object files, different section types, position-independent code, thread-local storage, dynamic linking and format-specific details of ELF binaries. The Linux kernel linker script alone is hundreds of lines of layout directives that the linker must get exactly right."
I worked on compilers, assemblers and linkers and this is almost exactly backwards
Exactly this. Linker is threading given blocks together with fixups for position-independent code - this can be called rule application. Assembler is pattern matching.
This explanation confused me too:
Each individual iteration: around 4x slower (register spilling)
Cache pressure: around 2-3x additional penalty (instructions do not fit in L1/L2 cache)
Combined over a billion iterations: 158,000x total slowdown
If each iteration is X percent slower, then a billion iterations will also be X percent slower. I wonder what is actually going on.
Claude one-shot a basic x86 assembler + linker for me. Missing lots of instructions, yes, but that is a matter of filling in tables of data mechanically.
Supporting linker scripts is marginally harder, but having manually written compilers before, my experience is the exact opposite of yours.
That's what they said, but as far as I can see it makes no sense at all. It's a console app. It's outputing to stdout, not a GPU buffer.
The whole point of react is to update the real browser DOM (or rather their custom ASCII backend, presumably, in this case) only when the content actually changes. When that happens, surely you'd spurt out some ASCII escape sequences to update the display. You're not constrained to do that in 16ms and you don't have a vsync signal you could synchronise to even if you wanted to. Synchronising to the display is something the tty implementation does. (On a different machine if you're using it over ssh!)
Given their own explanation of react -> ascii -> terminal, I can't see how they could possibly have ended up attempting to render every 16ms and flickering if they don't get it done in time.
I'm genuinely curious if anybody can make this make sense, because based on what I know of react and of graphics programming (which isn't nothing) my immediate reaction to that post was "that's... not how any of this works".
Claude code is written in react and uses Ink for rendering. "Ink provides the same component-based UI building experience that React offers in the browser, but for command-line apps. It uses Yoga to build Flexbox layouts in the terminal,"
I figured they were doing something like Ink, but interesting to know that they're actually using Ink. Do you have any evidence that's the case?
It doesn't answer the question, though. Ink throttles to at most 30fps (not 60 as the 16ms quote would suggest, though the at most is far more important). That's done to prevent it churning out vast amounts of ASCII, preventing issues like [1], not as some sort of display sync behaviour where missing the frame deadline would be expected to cause tearing/jank (let alone flickering).
I don't mean to be combative here. There must be some real explanation for the flickering, and I'm curious to know what it is. Using Ink doesn't, on it's own, explain it AFAICS.
Edit: I do see an issue about flickering on Ink [2]. If that's what's going on, the suggestion in one of the replies to use alternate screen sounds reasonable and nothing to do with having to render in 16ms. There are tons of TUI programs out there that manage to update without flickering.
Great, so probably a pretty straightforward fix, albeit in a dependency. Ink does indeed write ansiEscapes.clearTerminal [1], which does indeed "Clear the whole terminal, including scrollback buffer. (Not just the visible part of it)" [2]. (Edit: even the eraseLines here [4] will cause flicker.)
Using alternate screen might help, and is probably desirable anyway, but really the right approach is not to clear the screen (or erase lines) at all but just write out the lines and put a clear to end-of-line (ansiEscapes.eraseEndLine) at the end of each one, as described in [3]. That should be a pretty simple patch to Ink.
Likening this to a "small game engine" and claiming they need to render in 16ms is pretty funny. Perhaps they'll figure it out when this comment makes it into Claude's training data.
The list of the oil producers listed and omitted on a given forum in these contexts is always interesting. On HN it is often SA or Russia, and almost never Qatar or Iran.
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