Anyone want 16% on their money???
 

I just found out that banks in Brazil give that on deposits. I am loading the suitcase next time I visit as that is awesome.

nope I am happy where I am

15% federal income tax?

No, Brazil bank - no, not sure.

what bank

I cant imagine a bank who can pay that kind of interest

My cousin lives there
ill check them out

Check this out please and post the result. This is getting interesting.

thats great deposit

Is it one of those banks that promise you 16% interest and then suddenly goes "bankrupt"?

Brazils economy is absolutely horrible............. i'll keep my money here.

16% is nice but the inflation is probably high as well :winkwink:

"There is no free lunch" - Milton Friedman

Don't trust the banks let alone banks in Brazil lol

the money is not fdic insured

That's what I was thinking.

Just a heads up but the inflation rate is zero. Their is zero tax to foreigners on the interest earned. They also have one of the largest trade surpluses in the world, higher per capita then China (last time I looked a few months ago). The bank i am going to use is called "citibank". Yep the one and the same. The biggest bs is the red tape to get the documents to open an account.

Negatives. They are recruiting foreign cash to push the interest rates down. Inflation was a huge problem in the recent past. The currency was the strongest in the world against the dollar last year. Might be a little too strong?

http://www.bloomberg.com/apps/news?p...m5w&refer=news

Edit inflation was .05 last month.

http://english.people.com.cn/200609/...07_300525.html

16% ??? are u sure ???

Is surely Brazilian bank or some foreign bank in Brazil?
Is it possible to transfere the money somehow or you have to go to Brazil?

nice sig

i wouldnt put money in a brazil bank account
not even for a day lol
same goes for argentinia and other crap economies

are you talking about year interest rate????

someone once said "if it sounds too good to be true, it probably is"

do they have fdic equivalent over there? are the deposits guaranteed in any way?

Maybe this is to set off the risk of having your money confiscated?

Why the fuck do you care? You're a third world internet sig whore. Are you going to start having fatpays wire your $54.80 a week directly to Bank of Brazil so their branch manager can start overseeing your investments?

lol and sometimes you get -100% back lol :)

WOW:Oh crap
:1orglaugh :1orglaugh :1orglaugh

:1orglaugh :1orglaugh
Harsh...

Lol, if you add the currency changes (this yearthe Real, our currency, grew strong and the dollar is going down every day) the 16% would be something closer to 40% this year alone.

:2 cents:

Oh, and you can get better than 16%.

Our economy is strong. It could be much stronger if we had a different president. Elections are going to take place Sunday next week.

If you dont know what currency risk is, after you put your money in a brazilian 16% bank account you will learn the hard way.

Put it in your safe where its safe. Double word point.

great quote! :thumbsup

:thumbsup :thumbsup :thumbsup :thumbsup

Personally, I dont trust my money in places that I do not know about.

:1orglaugh :1orglaugh :1orglaugh :1orglaugh

Iran is 20% :warning

lol sounds like another offshore scam, those are like 10 year sold back in the day

doesnt say shit on their site

If you know how to ride those waves you can become VERY rich..

risk and reward in finance are always relative to each other.

duh!

read the book "the 16% solution" if you want to get 16 percent on your money with less risk then going through fucking brazil.

Most of guys here really don´t know how Brazil is changing in the last years.
Economy is growing up, no inflation...
And most people don´t know but brazilian bank system are considered one of most secure in the world.
Unfortunately here for us brazilian the taxs are too high.
But if you have a lot of money to invest won´t be a problem.

[ ]s

if they have to offer 16%... there is a reason. that reason is that the financial market and private investors and would be depositors have little faith in Brazilian banks and there is an element of risk which requires them to pay higher interest. sure Brazil is changing. Russia was changing too when you could earn 100% or more on government bonds. it was changing right up to the point that they defaulted and everyone lost everything.

risk is relative to return. thats always true in finance and investing.

I want 16% on someone else's money.

I've heard of companies/local banks in Dubai and its surroundings paying as high as 25% interest.

Not sure if there is any truth to it or not though.