WMG: James Bond Jr.

James is actually James Bond Sr's son
Come on! This is James Bond we're talking about. The "nephew" part is just a ridiculous lie probably to keep the boy safe (Not that it works very well)
  • It's a lie to keep the censors happy.
  • Not to mention, in the novels Bond does have a son: James Suzuki, whose mom is Kissy from You Only Live Twice. So James Bond Jr. being a second Bond illegitimate child wouldn't be that farfetched.

The older James Bond really does have a brother, the father of JB Junior.
Officially this brother is not supposed to exist, in large part to shield 007 from blackmail, that is, the threat of having anyone harm his family. Bond's brother either goes under another identity and/or lives off the grid. That doesn't mean he's not important either; if the Bond family has links to Scottish nobility this unseen brother may be helpful in pulling a few behind-the-scene diplomatic strings. Of course the passion for spying is probably in the Bond blood, and young James couldn't help hearing about his famous uncle.

James is the NEXT James Bond
A popular theory about the film franchise is that its use of The Other Darrin is in fact more of a The Nth Doctor; all those different looking Bonds are completely separate people, with the code name "James Bond" being passed down when one of them dies or retires. And here we have a kid using that name and training as a secret agent while still a teenager. Coincidence? He's actually being groomed as the next replacement Bond.
  • That explains "Uncle James" teaching him "the game".

Goldfinger is Goldfinger's twin brother
The original script for Diamonds Are Forever had Goldfinger's twin brother out for revenge. This can explain why he is still alive. He's not. It's his brother.
  • In that case, which one is Goldie's father?
    • We'll find out, on today's Maury!

Scumlord is Ernst Stavro Blofeld
Well it does make sense, considering he's the closest thing Bond had to an archenemy.

James is the nephew of the Sir James Bond (the one played by David Niven)
They named him after the retired version of 007 in Casino Royale (1967). After all, what would the censors go with? A "sex maniac who dragged the James Bond name through the dirt"... or the retired upper-crust guy who made that quote?