OFFSHORE 9% returns BS?

[JAque]

I am not sure what this company does, however all these claims seem un-realistic. Does anyone have any offshore banks recommendations where the bank offers decent rates?

JAque

European Offshore Privacy Bank, features include:

• 9% Annual Savings rate on a USD savings account over $700. 8% annual savings rate on a Euro savings account with a balance over 500 euros.

• Complete internet banking with optimal security thanks to the 3-level security standard with SSL 128-bit encryption.

• A variety of Bank cards available to access your funds including anonymous ATM card, virtual bank card for online shopping, prepaid Mastercard and Maestro credit card, all without credit check.

• Treasury/Cash Management Services – enables you to transfer / wire funds, reconcile statements and accounts, and initiate internal bank transfers at any time from anywhere in the world using our secure messaging service.

• Depository Services - Savings, Money Market, Time Deposit accounts and other shorter-term investment options.

• Working Capital Lines of Credit - carry your receivable and inventory balances, and take advantage of discount purchases, using deposits held offshore as security.

• Real Estate Financing - assists your business in acquiring or improving real estate to grow your business, using assets held invisibly offshore as security.

• Mortgage Warehousing Programs – retain profits by controlling your service release premium. To assist you with your international trade needs we also offer:

• Pre-Export Financing – working capital to manufacture products for export or to pay suppliers.

• Import, Export and Standby Letters of Credit – financial instruments through which a bank promises to pay a certain amount of money provided proper documentation is submitted as proof that a transaction has taken place, backed by the security of time deposits held with our bank.

LINK


JAque

[DesertCat]

It seems like BS. Banks make money by borrowing from you, then lending out at higher rates to make money on the "spread". If they are paying you 8-9%, how are they earning substantially more than that on a risk adjusted basis? And why pay 9%, when even 6% blows away all other bank money markets?