That is exactly what’s happening here, if I unplug the mic with an antenna connected I still get receive even with the volume turned down fairly low. As an experiment I tried that with my other two 148 gtls and I have to turn the volume all the way up. To hear even a little bit of static coming out of the speaker. The only problem is I don’t see any obvious resistor going from the barrel of external speaker jack to ground.
This radio has experienced a reverse polarity event, some time in the past. D55 looks like it burned completely off the top side of the board. D44 has been replaced, and it burned open the trace on the board, you can see where it was repaired by someone in the past with a jumper wire. I can’t tell if they replaced d44 with a zenner diode or an 1n4148. I’m not too worried about it for the time being. The end of the large red power wire that goes from the back of the board to the front on/off switch was charred and melted but ohms out good, so I desoldered it and slide some heat shrink over it. When d55, which is right under the power jack burned up, there was a bit off a fire back there. The insulation on the external speaker wires is charred as well as the three wires going to the cb pa switch.