Have we uncovered “Foundation X”?

In the comments to the last post, Luke Waterfield has supplied a plausible solution to the identity of “Foundation X”, the mysterious and secretive organisation with unlimited funds that has held meetings with a Lord and  a member of the British cabinet about investing in the UK.

Is “Foundation X” the “United Nations Office of International Treasury Control” a body which claims to be a “Sovereign Entity” formed after the end of the Second World War? 

If you want to know more, they have a most informative video here.  Iain M Banks fans will note a wry sense of science fiction humour in the choice of music.

Naturally, everybody linked to the actual United Nations denies any such body exists.

But as all conspiracy theorists know, that’s a dead giveaway. Plausible deniability is important.

The UNOITC is run by a Dr Ray C Dam. However, as the UNOITC website makes clear,   “Dr. Ray C. Dam is a person, but His Excellency Dr. Ray C. Dam is a certified and indemnified international Central Banking financial institution operating as The Office of International Treasury Control.” So you’ve got to get the details right.

The similarities between “Foundation X” and “UNOITC” are notable.

“Foundation X” has Gold Bullion, and wants to invest in billions in economic reconstruction. So does the UNOITC. Additionally, there is mention of the gold standard in both accounts.

“Foundation X” is secretive and only wishes to discuss their proposals with extremely powerful people. The UNOITC has a similar sense of propriety, as can be seen by their unhappiness with the response they got from the Scottish Government when they offered help there.

But of course, it could be someone is trying to scam the UK government, in the disguise of the UNOITC, relying on the good name of that body for their own nefarious purposes (ahem).  According to the UNOITC themselves, such unsavory business practices have been ongoing, and Governments must be watchful

To be serious for a moment, UNOITC are a plausible candidate for “Foundation X”. According to their Wikipedia entry, they have a history of making similar approaches to governments like Fiji, and even attempted to buy MG Rover for the familiar sum of £5 billion.

This was a significant over-valuation, so it’s perhaps unsurprising that they did not prceed with that investment. Why do they seek to make such approaches? No-one knows.

If this is the case, it’s rather sad that Lord James has been taken in by a pretty blatant and rather silly hoax. Lord James is, I’m sure, a decent man, and we all make mistakes. It would be wrong to overly mock a man with a distinguished career for making such a mistake late in life.

What’s a little more disturbing is that this… misunderstanding, has led to representatives of this body gaining a meeting with a Cabinet minister and their proposal apparently leading to discussions with other ministers.

I don’t doubt that Lord James is telling the truth when he says he was contacted by an FSA regulated financial institution. But if it’s this body, I’m amazed that it wasn’t immediately spotted as a hoax. or at the very least, a joke of some sort.

So how did it get so high up in government?

Perhaps Lord Strathclyde was acting out of simple good manners, trying to be sympathetic to a colleague. That’s understandable. But to put yourself in a position where possible fraudsters get to meet with Cabinet Ministers is…  unusual.

It’s certainly on a par with that Australian fellow with the dodgy diet tea company! 

In any case,  I wonder what discussions Ministers have had over the activities of the UNOITC, and if the Government needs to be slightly more on guard against the activities of what you might call, in another tribute to Iain M Banks, the “Finance Culture Eccentric”

28 Responses to “Have we uncovered “Foundation X”?”

  1. Louise

    Ooh If they were involved with Lord James during the buying of MG Rovers, it sounds like a big con that Hustle would do.

    Would make a brilliant episode!

  2. Jon H

    Now I wanna see Mr. Dam wearing a cape, a Shazam lightning bolt on his chest, and wielding a working lightsaber.

    “contacted by an FSA regulated financial institution.”

    By the chairman, no less. Which is more worrisome than a member of the House of Lords falling for this tripe.

    When James describes the firm as FSA-controlled, does that mean it’s a failed financial institution, or does it just mean ‘regulated by’?

  3. AB

    TBH it looks rather disturbingly to me like James is ill – there are some references to past mental illness in that rather weird speech in the Lords. I suspect this crank/hoaxer contacted him, he took the crank seriously and meetings were arranged with other ministers on the strength of James’s word, contacts which were then discontinued when said ministers realised what kind of organisation they were dealing with.

    • hopisen

      It’s certainly both rather sad and rather likely.

      Though I have to say I found the multi-cultural speech that others have mentioned eccentric, but rather charming.

      I’ve no interest in making fun of a sick man, so if that’s the case what’s interesting about this is what it reveals about the nature of power and influence in the UK. Convince the right guy, and your case can be before the governor of the Bank of England, Cabinet ministers and the Treasury within days, without anyone ever knowing.

      I suppose twas ever thus, but in a way, that’s as disturbing as the speech itself.

      • Diane

        has this been reported to the Serious Fraud Office? Lord James speech did sound very much like a cry for help!

  4. Wolf Baginski

    In a speech he made in the Lords, on the 21st October, he said that he had suffered a stroke. It’s part of the one that also mentioned Goering and the female kangaroo.

    The timing doesn’t look right to explain a hoaxer picking him as a target, but the publicity from that speech might spoil the hoaxer’s scheme.

  5. KG

    Text on the “OITC” website is semi-literate. If the organisation was what it claims to be, it would be able and willing to hire the best, so it’s clearly been produced by either a scammer or a lunatic. If you’re right about the OITC being “Foundation X”, that leaves the question of what they hoped to gain through this approach to the UK government, and I’d say tips the balance in favour of a lunatic rather than a scammer.

  6. JD

    Well, found the stuff on Hansard very fascinating, indeed.

    How did the link to OITC come about? They appear to be a hoax of some kind. Website is incredibly poor.

    Also, it is unlikely that Lord James of Blackheath actually went to the BoE and mentioned Foundation X; he would have divulged the name of the group surely?

  7. decameron

    Whilst your suggestion seems a sage one, surely the fact that the offer is backed by gold bullion MUST imply there is only one organization that now has such wherewithal, after the last few years of vigorous activity in acquiring the same?

    Namely cash4gold

  8. godspeasant

    It’s probably the BIS, also known as the central bank’s bank. All the world’s gold is in Switzerland. During the roman empire, all the Gold was where the King was with Ceasar. Therefore, the King is in Switzerland. The Rothschild bank is there as well.

  9. Jane

    This is an extract from a document written by Steve Fishman, a former scientologist dedicated to bringing to light all of scientology’s unsavoury activities. It is from a list of demands of what he says scientology must do. It can be found by googling ‘gold bullion’ and ‘scientology’ and is on the cs.cmu.edu website:
    “A full accounting of all of the gold bullion stored at Hemet, Gilman Hot Springs, Crestline and Rio Trementina and all the other RPFs worldwide must be written up and made public, so that investigators of the Secret Service, Treasury Department, IRS, and other branches of the Justice
    Department can fully uncover the global operation to collapse the currencies of third world countries put into place by L. Ron Hubbard and Norman
    Starkey and now implemented by David Miscavige, known as Operation Paper Chase. A full accounting of the purchases of Soviet and North Korean gold bullion after the collapse of the Soviet Union during the period from 1985 to 1992 and the transfer, stockpiling and illegal smuggling of this gold into the United States through various Scientology shell corporations, including Theta Management, IMU Services, ASSISCO, Church of
    Scientology Spiritual Trust, Author Family Trust and Author Services, Inc. must be made available to both the Justice Department and the general public;”

  10. Jane

    One of the proselytising fronts of scientology is called the Way to Happiness Foundation.

  11. Gort

    Hmm it sound ‘semi-legitmate’…

    Domain ID:D141656820-LROR
    Domain Name:UNOITC.ORG
    Created On:16-Mar-2007 08:37:42 UTC
    Last Updated On:25-Apr-2010 00:24:40 UTC
    Expiration Date:16-Mar-2011 08:37:42 UTC
    Sponsoring Registrar:GoDaddy.com, Inc. (R91-LROR)
    Registrant ID:CR42637623
    Registrant Name:UNOITC HEAD QUARTERS
    Registrant Organization:The Office Of International Treasury Control
    Registrant Street1:1133 Connecticut Avenue
    Registrant Street2:
    Registrant Street3:
    Registrant City:Washington
    Registrant State/Province:District of Columbia
    Registrant Postal Code:20036
    Registrant Country:US
    Registrant Phone:+1.2024499499
    Registrant Phone Ext.:
    Registrant FAX:+1.2024499499
    Registrant FAX Ext.:
    Registrant Email:

  12. Dan

    Pay close attention: If every sovereign nation currently in the IMF has themselves leveraged to the hilt and going south (which is the case) and someone were able to pop in a significant amount of bullion to secure their over-leveraged position, they would basically be doing what amounts to a hostile takeover. However, because we are dealing with sovereign wealth/debt, what this move would actually accomplish is a currency takeover – replacing the funny money with real secured currency. There really are vast sums of wealth out there…think really old money, like Medieval or farther. This very well could be Rev 13 & 17 playing out…mark of the beast, etc.

  13. KARL

    i hope some nefarious organization
    does buy britain for a little pet.
    we export bombs and import sharia law.
    alas albion died long ago.

  14. Invictus_88

    Not really one to get too close to conspiracy theoryish discussions, but in light of the consistent references to the “OITC” it ought to be mentioned as a Point of Information that Lord James seems to explicitly conflate the anonymous “Foundation X” and the Vatican Bank.

  15. K Zero

    “Lord James seems to explicitly conflate the anonymous “Foundation X” and the Vatican Bank.”

    Well, ole papa Rat was just on a recent visit to our, er, fragrant Queen.
    They must have quite a bit of bullion between them.

    Just sayin….

  16. amouzou

    i am ecoliman and i have to received help of all association or ong who like to help me to contribue of the sensibilastion of pollution causes in my contry togo


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