We can now set a few facts straight. First, the inscription is not carved on elephant bone, but on a bovine scapula. Second, the inscription was published in 1916; it cannot have been discovered in 1930. Third, Tung Tso-pin's understanding of this inscription bears no relation whatever to Hurtak and Blum's; it is dishonest to pretend otherwise. Fourth, the translation treats the Chinese graphs not as members of an extensive written language, but as isolated ciphers to which it arbitrarily assigns meanings for which there is no conceivable etymological justification; it even splits common Shang graphs in two. Fifth, having assigned fantastic meanings, it then reads the words in reverse order.
Be sure to read the whole piece to see just how slipshod the scholarship at the April 1974 meeting of the Ancient Astronaut Society was. Things have not improved since then.