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I have never seen something powered like that. Where did you get the idea for that? I have used those RF oscillators before as QRPppp transmitters and did manage to modulate one once but I powered it the normal way with the DC flowing thru one winding of a transformer and applied audio to the other winding. This modulated the DC supply and thus amplitude modulated the RF oscillator.
No. When you superimpose an AC voltage ,such as audio, on a DC supply the voltage swings up and down in response to the audio. The AC component adds to or subtracts from the normal DC voltage. The varying voltage on the supply line is what causes the amplitude of the RF oscillator to change resulting in amplitude modulation.
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