Pronounced: Pie-leht! (Exclamation mark very important.)
15th Century Chinese Pirates : Bad-ass mothers pwning Ming dynasty trading ships and making everyone their bitches.
21st Century Chinese Pirates : Predominantly inbred layabouts taking a back seat to Somali fishermen-come-terrorists. The Somali pirates however have a lot to learn when negotiating with the U.S. Navy - U.S. Navy snipers 3, Somali Pirates 0.
Common misconception: The term Pilot involves flying aircraft and has nothing to do with being a 'Pilate!'. Airborne piracy is notoriously difficult and if you fall overboard, it is often a long way down. On the plus side you do not need to learn how to swim. Ever.