I read the book by Stephen King called “Hearts In Atlantis.” There is a part in it that attempts to explain the Peace Sign.
The book is about the 1960s, which I well remember. One character was a young man who was a freshman in college. He was very much establishment and a member of the ROTC, Reserve Officer Training Corps. He said his ROTC instructor taught that the sign was invented by the Communist Party shortly after World War II. The instructor called it a Broken Cross and claimed it meant “victory through infiltration.” That is simply not true. The instructor in the book was thinking of the swastika and Hitler.
Another young man in this character’s dorm revealed the truth about the Peace Sign. I verified this truth from my research. The Peace Sign is actually a combination of two British Navy semaphore letters (where different ways of holding flags indicates different letters of the alphabet, to send signals over distance at sea).