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JodyChunder
@
2012 Jan 11, 2:57pm
Patrick : YOU should run for office. You got the right stuff mister.
Patrick
@
2012 Jan 12, 10:06am
Patrick : YOU should run for office. You got the right stuff mister.
Thanks! I'd be interested if I didn't have to take money from people who would then want to tell me how to vote on laws.
But we don't have any public campaign finance for Congress, right?
And without the privately-funded Congress voting to make publicly-funded Congress a possibility, it will remain impossible. Catch-22, I think.
Patrick
@
2012 Jan 13, 12:17am
Caution about those Caribbean countries' banks though. I have an American friend in Europe who opened an account in the Cayman Islands I think. Anyway, the bank went under and took his whole deposit with it. No FDIC. Money gone.
Caution about those Caribbean countries' banks though. I have an American friend in Europe who opened an account in the Cayman Islands I think. Anyway, the bank went under and took his whole deposit with it. No FDIC. Money gone.
Thanks Patrick... taking this to the next level: What countries are good choices for residency (not relocating to), for the purpose of moving investments? Let's get a list together. Rather than guess, I invite anyone posting information to provide links to objective sources. Cost and difficulty of gaining residency is also very helpful information to post, at the same time, if available. Thanks in advance.
http://www.panamalaw.org/index.html has some good info.
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The central bank's interest rate in the United States is .25%, the central bank interest rate in Brazil is 11.75%. There has to be a money making opportunity here. Just as currency brokers make money by buying and selling currency on a daily bases I would think you could deposit money into a Brazil bank and earn a far higher interested rate than in a United States Bank. The current interest rate for saving account for a Brazil bank is currently 10.75%, that's far higher than any United States bank, government bond or other investment. From what I read, it's difficult to open an account unless your a resident of Brazil. I would think it would be a great investment opportunity for someone in Brazil. Form a corporation and take in money from over seas investors, then deposit the money in a Brazil bank, you could give foreign investors a good 8 or 9% interest on there money and skim the remaining interest off the top for yourself. I guess the main issue is how risky is all this. Are Brazil Banks insured by a federal agency like the FDIC? (I see that banks are only insured to deposits to 80,000 Reals with is currently equivalent to $43,000). And is it easy to get your money back when you want to withdraw. I'm sure it's easy enough to sent them money, but if you have to fill out 50 forms to transfer the money back to you, it's really not worth it.
#investing