Paul Farquhar
Legend
Bond villains generally were third parties exploiting cold war tensions for personal gain.How many Bond villains were actually Cold War spies or governments? Very few.
Doctor No: A mercenary who was employed by the Chinese government to sabotage the US space program. Part of the SPECTRE organisation.
Goldfinger: Looks like a smuggler plotting to cash in on gold futures, but it's the Chinese government who supply the nuclear device with the intent of undermining western economies.
From Russia with Love (AKA the best one): British Intelligence attempt to steel a coding machine from the Russians. But it is a SPECTRE trap aimed at acquiring the machine to sell to the highest bidder, and discredit British Intelligence. (Also the line "Red wine with fish, I should have known!" is character defining.)
Thunderball: This is just an extortion plot by SPECTRE.
You only Live Twice: SPECTRE still being employed by the Chinese to sabotage rival space programs.
After this point, they start to become more villain focused. It's all about Blofield (and stand ins), not his organisation (Test Match Special).
This approach makes it painfully obvious that Double-0 agents do not exist in our world.I like the too powerful individual(s) approach better than governments anyways.