Foundation X is offering £75bn to UK, no strings, says Lord James

Previous reports had it at a paltry £17bn but that’s only the first installment, says Lord James, who insists he’s not a doddering old coot who fell victim to a scam.

He’s says it can’t be tainted money because has experience money laundering cash from criminal groups and knows what the deal is. (He says the Bank of England had him clean up businesses infiltrated by the IRA)

“I’m not a money launderer, I was on the side of the angels,” he added


Did a not-obviously-insane member of the government — a corporate troubleshooter and Conservative life peer — really just stand up in the House of Lords and announce that a shadowy Foundation (that might or might not represent the Vatican) was offering the British government an investment of umpty-billion pounds in order to reboot the economy — free, gratis, with no strings attached?

Or am I just imagining the “no strings attached” clause?

The Vatican Bank is currently embroiled in a money-laundering scandal of its own, so we’re really going into the rabbit hole of conspiracy thories here, aren’t we?

(PS. I do hope the good Lord didn’t advance Foundation X a few million in advance of them sending the billions. Just saying… But clearly, he is not a nutcase.)

Epic Nigeria scams, and laundering money for the Bank of England?

From a reader, on Lord James of the House of Lords saying ‘Foundation X’ wants to give £17 billion to the UK government.

Dear Lord James:

Could you please consider helping me to relocate some huge amount of money to your country. My name is Dr. Abraham Zongo, Foreign Remittance Director of the Paying Bank of Nigeria. Our client, the oil merchant Khalifa Salem Abdulla has directed me to find worthy beneficiaries of Foundation X, of the Sovereign Wealth Fund of Abuja. Paying Bank is backed with more gold bullion than has ever been mined in the history of this world, so understandably we have no use for the amount of £17,474,369,423 strangely denominated in British pounds sterling. The President of Paying Bank of Nigeria has directed me to transfer this account to your country to be invested in three I’s recreation, hospitals, schools, and Crossrail. If you will contact me as soon as possible, I will arrange in utmost secrecy to provide a Draft Application to provide your bank account and routing information where Paying Bank will transfer £17,474,369,423 …

Yes, it rather *does* sound like a Nigerian advance fee scam, doesn’t it? But played out on a very large stage.

As the Nigerian consulate warns, Don’t be Fooled, many have lost Money; If it sounds too good to be true, then it is not true!!!

Now, back to perhaps the more interesting disclosure … did Lord James say money laundering for the Bank of England?

Lord James: I have had one of the biggest experiences in the laundering of terrorist money and funny money that anyone has had in the City. I have handled billions of pounds of terrorist money.

Baroness Hollis of Heigham: Where did it go to?

Lord James: Not into my pocket. My biggest terrorist client was the IRA and I am pleased to say that I managed to write off more than £1 billion of its money. I have also had extensive connections with north African terrorists… hasten to add that it is no good getting the police in, because I shall immediately call the Bank of England as my defence witness, given that it put me in to deal with these problems.

What if the drug cartels tried to buy your government? What if they already have?

A mysterious Foundation X offered to fund the UK government with £17 billion, according to a speech by Lord James in the British Parliament, said Polizeros contributor Wood yesterday, adding that their motives could hardly be altruistic.

The story has gotten enough traction that Reuters is now mocking it (Aha, so that proves it must be true, right!)

Lord James always struck me as a perfectly sensible person, but he does seem to have gone completely bonkers here. But hey, at least he’s provided years’ worth of grist for conspiracy theorists around the world. Who could this Foundation X be?

The opine that Foundation X is the Office of International Treasury Control, an odd entity that claims to have more gold that has ever been mined.

Adding to the bizarreness of this is

Lord James, has “handled billions of pounds of terrorist money”; his “biggest terrorist client was the IRA”, who weren’t as nasty as the north African terrorists.

and, from the comments

There is an earlier connection between Baron James and the OITC if anyone cares to check. Both tried to buy the ailing MG group in the UK back in 2005. (Check their respective Wikipedia entries.) Thus it seems very surprising that Baron James could have no knowledge of “Foundation X”.

While this all may turn out to be a epic attempted Nigerian scam (My advice: Never try to swindle entities with fighter jets, missiles, and armies at their disposal) the truth is, there are indeed many entities trying to buy control of governments and resources.

The Shadow Market: How Sovereign Wealth Funds and Rogue Nations Threaten America’s Financial Future

The most potent force in global commerce today is not the Federal Reserve, multinational banks, or the governments of the G7 countries. Rather, it is the multi-trillion-dollar network of super-rich, secretive, and largely unregulated investment vehicles–foreign sovereign wealth funds, government-run corporations, private equity funds, and hedge funds–that are quietly buying up the world, piece by valuable piece.

Let’s be clear. Much of the uncontrolled and unregulated money that goes sluicing around the world is drug money. An ever-willing and corrupt financial system is set up to handle it too, happy to disguise the source. So, if someone comes knocking on the UK government door with £17 billion with no apparent strings attached, hey, the first one is always free.

And lest you think all of this is fanciful and it can’t happen here.

Drug money laundered by banks kept financial system going during peak of the 2008 financial crisis.

Drug money worth billions of dollars kept the financial system afloat at the height of the global crisis [said] the United Nations’ drugs and crime tsar.

Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were “the only liquid investment capital” available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.

Someone tried to buy the UK government

It came up in Hansard (the minutes of the House of Lords) on Monday. Or is trying to buy the UK government. I swear to God I am not making this up.

Here’s the transcript.

Essentially, Lord James said that he had been approached by “Foundation X”:

“For the past 20 weeks I have been engaged in a very strange dialogue with the two noble Lords, in the course of which I have been trying to bring to their attention the willing availability of a strange organisation which wishes to make a great deal of money available to assist the recovery of the economy in this country. For want of a better name, I shall call it foundation X. That is not its real name, but it will do for the moment.”

Lord James is an expert on terrorist and mob money. He is the man the bankers talk to when they want to know if a business is on the level or completely evil. It is manifestly clear that he isn’t the goodie here; he even says as much. He knows people. So when someone goes, I have a lot of money, they go to him.

Here’s the thing. He says:

“The City firm came to me and asked whether I could get a reference and a clearance on foundation X. For 20 weeks, I have been endeavouring to do that. I have come to the absolute conclusion that foundation X is completely genuine and sincere and that it directly wishes to make the United Kingdom one of the principal points that it will use to disseminate its extraordinarily great wealth into the world at this present moment, as part of an attempt to seek the recovery of the global economy.”

Wait, what?

“I found myself between a rock and a hard place that were totally paranoid about each other, because the foundation X people have an amazing obsession with their own security. They expect to be contacted only by someone equal to head of state status or someone with an international security rating equal to the top six people in the world. This is a strange situation.”

Messed-up metaphors aside, why would they do this?

” My point on all of this is that we have not proven any of this. Foundation X is saying at this moment that it is prepared to put up the entire £5 billion for the funding of the three Is recreation; the British Government can have the entire independent management and control of it-foundation X does not want anything to do with it; there will be no interest charged; and, by the way, if the British Government would like it as well, if it will help, it will be prepared to put up money for funding hospitals, schools, the building of Crossrail immediately with £17 billion transfer by Christmas, if requested, and all these other things. These things can be done, if wished, but a senior member of the Government has to accept the invitation to a phone call to the chairman of foundation X-and then we can get into business. This is too big an issue. I am just an ageing, obsessive old Peer and I am easily dispensable, but getting to the truth is not. We need to know what really is happening here. We must find out the truth of this situation.”

No one gives up 17 billion pounds (nearly 30 billion dollars) for altruistic reasons.

Do they?

Do they?