Our Institute is going where others fear to tread. The more research we conduct into the pre-war years of 1933-1935 the more disturbing are the discoveries. Using easily available sources we have laid bare the machinations of European statecraft. Italian Americans have been sensitive in avoiding any taint of Fascism in dealing with the Second World War and the years preceding it. Like most children of the victorious Allies we have a simple explanation of the causes of that war. But simple is not what you find when you open the 1930s up for scrutiny. Rosario Iaconisí piece on the attempted Austria takeover in 1934 (p.14) is a subject that mainstream academics must explore. Great Britain, France, and the United States held the key to Adolph Hitlerís future in 1934. If these Western democracies had followed Italyís lead and directly challenged Nazi aggression, history could have taken a very different course. According to Britainís one-time War Secretary Duff Cooper, Italy was a crucial part in containing the Nazi time bomb. So, who lost Italy?