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>She plunked all of it into the Bank of Guernsey,
>from which she receives 14 percent. Like the
>bank, she's British and equipped with Sterling
The highest sterling rate I am aware of is 7.75 percent available from
Julian Hodge Bank Ltd, Investec Bank (UK) Ltd and United Trust Bank Ltd.
The only way I know to get a significantly higher return is by using a
scheme such as "Invest Loan" which is offered by Jyske Bank
(www.jyske-bank.dk/pb) and Royal Bank of Austria.
Basically you make a deposit, say $20,000, which is then geared by the
bank with a loan of up to four times the deposit to provide a total
investment of $100,000. You borrow this amount in a low-interest currency
and invest it in a basket of high-interest currencies. Suppose you borrow
at 3% and invest at 8% you make 5% which, due to the gearing, equals 25%
of your deposit. Obviously this is a high risk strategy with no
guarantees.
BTW, sterling interest rates are listed by the London "Financial Times"
at its web site at www.ft.com. Go to "UK/Offshore Funds" then choose
"Money Market Bank Accounts".
Michael Soliatis
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