We suspect that a dynamic in the controversy over China's claim of sovereignty over the South China Sea has little or nothing to do with "Freedom of Navigation" or any other pretensions by the U.S. and its allies. An aspect of the postwar global economy that has largely eluded public awareness concerns the Japanese looting of the liquid wealth of Asia during the Second World War. Interested researchers are emphatically encouraged to read "Gold Warriors" by Sterling and Peggy Seagrave. The volume is a heroic, masterful analysis and penetration of the Asian wing of the cartel system that spawned fascism, as well as the realities of the post-World War II economic landscape. In addition to treasure deliberately and masterfully secreted in elaborately disguised and booby-trapped sites all over Japanese-occupied Asia, much of the loot was scuttled at sea and also lost when ships carrying the treasure were sunk. It may well be that some of the inhabited islands in the South China Sea are sites for Golden Lily ships deliberately scuttled for later salvage and recovery. " . . . . In the last year of the war, Japan also hid large quantities of bullion at sea, deliberately scuttling ships including the cruiser Nachii, sunk with all hands in Manila Bay by a Japanese submarine that then machine-gunned all the Japanese crew members who came to the surface. The gold aboard the Nachii was recovered from its hulk in the late 1970s by President Marcos. . . ." WFMU-FM is podcasting For The Record–You can subscribe to the podcast HERE. Mr. Emory emphatically recommends that listeners/readers get the 32GB flash drive containing all of Mr. Emory's 43 years on the air, plus a library of old anti-fascist books on easy-to-download PDF files.