[mgkimsal]

you could invest is in australia, where banks are giving 5-6% on regular savings accounts: http://www.savingsaccounts.com.au/

[vellum]

Good luck with that if you're American. Thanks to the new IRS regs, a lot of foreign banks won't do business with Americans.

http://www.accountingtoday.com/debits_credits/Taxpayers-Stra...

[_delirium]

I don't think it's ever been feasible; most countries won't let you open a bank account unless you have an address in the country, unless you're in some kind of special situation, like a "high net-worth individual" interested in private banking services.

[nl]

The big risk in any kind of investment like that is you can be burnt on small variations in the exchange rate.

Australian banks pay 5.5% PA. The exchange rate can vary 1-2% per day, and trying to predict long term trends is difficult at best.

(I'm Australian if it matters)