The Lord, the cabinet minister, “Foundation X” and a mysterious £5 billion…

Today I read the most extraordinary speech I think I’ve ever come across. It was given by Lord James of Blackheath, a respected industrialist and a former senior adviser to the Conservative party.

Lord James was speaking in the Lords debate on the Spending Review. You might expect him to touch on the issue of government waste, which he is known for politically.

Not a bit of it.

Lord James’s speech begins with Brigadoon, moves on to money laundering billions of terrorist money and ends with the claim that Lord James has been contacted by a mysterious “Foundation X” that wishes to invest £5 billion in the United Kingdom, with an extra £17 billion for hospital, schools and crossrail by Christmas, and who have met with a cabinet minister to discuss their investment.

Intriguing, isn’t it?

So here’s the skinny.

As an expert in laundering of terrorist finance and funny money who has “handled billions of pounds of terrorist money“, Lord James claims he was asked by a leading FSA regulated institution to investigate a mysterious organisation that wanted to invest substantial sums into the UKs economic reconstruction.

This body, which he calls “Foundation X”, apparently has huge reserves of gold bullion backed funds. On some estimates, these funds amount to more than the entire gold bullion mined from the earth. 

With such great wealth, “Foundation X” is understandably secretive, and only wishes to discuss the disbursement of it’s funds with a Head of State or one of the “top six people in the world”.

So for 20 weeks, Lord James investigated the foundation. He came to the 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”

Having come to this conclusion,  Lord James wished to expedite this investment.  After all, “Foundation X” were talking about £5 billion immediately, with a further £17 billion to follow by Christmas to support Schools, Hospitals and Crossrail.

So Lord James secured a meeting for representatives of Foundation X with the Leader of the House of Lords, Lord Strathclyde. This was held some weeks ago and was, at best, inconclusive.

Since then, Lord James has discussed “Foundation X” in detail with Treasury ministers and now believes the government is dragging its heels and missing a major opportunity to drive forward the UK economy.

Now, you might think this is all barmy. 

After all, mystery foundations with vast quantities of gold bullion backed securities to invest in the British economy don’t come along every day. It’s tempting to think that Lord James has been the victim of a particularly convincing Nigerian E-mail scam.

But if it is madness, it is madness that has reached the highest levels of government.

After all, not only have members of “Foundation X” met with the Leader of the House of Lords, the Treasury minister, Lord Sassoon, confirmed that he has been in “detailed discussions” on this subject with Lord James, adding that the Government “take seriously anyone who wants to invest in our economy.”

So what on earth is going on?

One thing is for sure.

The Truth is out there.

Update: Charlie Stross at Antipope has also been struck by this speech . He’s as bemused as me by it. Well worth reading his post and the comments. As an Iain M Banks fanboy, I particularly like the suggestion that a special circumstances GSV paid Lord James the honour of a visit. The “A valuable contribution from the spritual side perhaps?

35 Responses to “The Lord, the cabinet minister, “Foundation X” and a mysterious £5 billion…”

  1. Wesley

    I think there might be a ‘spanish silver’ inflation problem to the actions of ‘foundation x’ which might undo all their proposed good work… [but then this is the plot of L Ron Hubbard novel that you’ve put up as a hoax; right?].

  2. Newmania

    Where did that come from ? Oh Hopi Robert Piper is not very impressed with you , he says you are right wing. Eeek .

  3. Mike

    Check that HMS Astute still has the requisite number of nukes. (I watched Thunderball at the weekend.)

    • Richard Blogger

      Astute does not carry nukes. It carries Spearfish torpedoes and/or Tomahawk Block IV cruise missiles, both of which have conventional (non-nuke) warheads.

      You are thinking about the Vanguard class subs (Trident).

  4. Gilliebc

    This is the strangest post I’ve ever read. I’ve also read Lord James’ speech which he gave in the House of Lords. It doesn’t seem as if the other members of the Lords were overly impressed because they didn’t question him about it and moved swiftly on to other stuff. Unless of course I didn’t read on far enough.
    If something sounds too good to be true then it usually is. i.e. not true.
    On the other hand in the unlikely event it is true, then what would they “Foundation X” want in return? It’s very intriguing though.
    I’ve never heard of Lord James. Is he the real deal? Or, maybe he’s losing the plot, no offence intended. What’s your gut feeling about this Hopi?

  5. stephen

    It all goes to show that there is no fool like an old fool. If Foundation X are legitimate and want to invest in the UK Government without any strings attached – and get some interest as well then they do this quite easily through the monthly gilt auctions which will gobble up the £22bn they are offering pretty quickly at present. They are of course after something else, and perhaps Lord James too. There is always a catch I’m afraid.

  6. AB

    “Foundation X” sounds like a revolutionary new Clinique make-up product.

    I can’t help thinking that Chris Morris is behind this in some way.

    • CS Clark

      It makes more sense as a speech when you read it in a Granpa Simpson voice.

  7. Trevor

    “the Treasury minister, Lord Sassoon, confirmed that he has been in “detailed discussions” on this subject with Lord James, adding that the Government “take seriously anyone who wants to invest in our economy.”” – if you watch the video of this speech, I think you might get quite a different impression, which is that he is simply being extremely polite to Lord James.

    • hopisen

      Quite true. Hansard sometimes doesn’t capture the nuance of the most subtle polite distancing.

    • Jon H

      I think this is most likely it. The “top six people in the world” sounds like UNOITC nonsense.

      The UNOITC frauds also claim to be the largest holder of gold and platinum, which fits.

  8. Jbh

    If it is something to do with Special Circumstances, with our luck it’ll turn out to be the GSV Grey Area playing one of its games.

      • Jbh

        Oh, hello!

        Great minds think alike, I guess. Or mediocre minds think similarly…

        Also, I am a semi-regular reader of your blog. Keep up the good work.

  9. Ceebs

    Special Circumstances would be far more cunning. My thoughts were it seemed to be the first chapter of a book that features women whose names are improbable double entendres and ends with an attempt to blow up Fort Knox with nuclear weapons. Best to watch out for someone taking him to hospital with a steel rimmed bowler hat.


Leave a Reply