Foundation X: A conversation in the House of Lords

[Jan Klimkowski]

Fwiw - according to Tom Espiner, "technology reporter for ZDNet UK, covering all manner of security issues", Lord James of Blackheath has told him that there are "no links" between "Foundation X" and the Office of International Treasury Control.

Blogger Hopi Sen suggested in a blog post on Wednesday that the mysterious organisation could be the "United Nations Office of International Treasury Control" (UNOITC), which claims to be a sovereign entity formed after the Second World War.

James told ZDNet UK that he had not been approached by the UNOITC, and that there were no links between Foundation X and UNOITC.

http://www.zdnet.co.uk/blogs/security-bu...-10020958/

Meanwhile, David Guyatt is surely right that we are in Spookland here. The House of Lords transcript contains one of the most outrageous passages ever uttered amongst the ermine-clad old reactionaries of the upper chamber:

Lord James of Blackheath: 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 of Blackheath: 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, but that was of a far nastier nature, and I do not want to talk about that because it is still a security issue. I 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.

I beg your pardon, m'lud. But that is treason.

Lord James is admitting to laundering billions of pounds of terrorist money, including IRA money.

Lord James is further claiming that he did so with the knowledge and agreement of the Bank of England, and therefore cannot and will not be prosecuted.

Most researchers here at DPF know that these claims, in their essence if not their specifics, are true. However, City/Wall Street laundering of terrorist money is NEVER admitted by the powerful, and certainly not on the public record at an establishment bastion such as the House of Lords.

Again, this is not a slip of the tongue under pressure from an investigative journalist or ferocious lawyer. This is a considered statement from a peer of the realm and high-level City insider, entered into the Parliamentary record.

Wtf does Lord James think he's playing at?