Conspiracy actually comes from the latin word cōnspīrātiō which is a version of cōnspīrāre which means to conspire.
Con in latin is always pronounced 'con' so that solves the cun vs con debate (although most people including myself have naturally lazy speech so pronounce the con like you would say gon of 'gonna getcha, but with a C so a cross of O and U).
Again sticking to Latin, the spi would be pronounced as it sounds so so far we have "Con-Spi".
Next is ra which has a short a so "ra" rather than "raaa" and cy which is widly accepted as "see".
So therefore the correct pronunciation is "Con-Spi-Ra-See" although most people will pronounce it "Cun-Spi-Ra-See"
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