Pirate's primary reason (and only one, so far as I know) for not disclosing his business is because if he did, it would allow more competition to come in. But the thing is, he's the big player in this unknown niche, as often happens when you're first-to-market. He's already #1 by a HUGE margin. Why not just disclose the working operations of your business and put all the nay-sayers to rest? Competition would be fighting an uphill battle at that point. Pirate would have the iPad of investment schemes while others would be scambling to design something competitive to hopefully capture just 5% of the market.
Pirate promises to pay 3300% per year, ARE YOU FKING SERIOUS?
Where did he promise it'd be 7%/week for a year with unlimited deposits?