World Governments Agree To Automatic Information Sharing

by Simon Black via Sovereign Man blog,

Over the weekend in yet another cushy five-star hotel, representatives from this unelected supranational OECD bureaucracy announced plans for world governments to exchange all their citizens’ tax and financial data with one another. The 34 members states of the OECD are enthusiastically supporting this measure. And it constitutes the end of whatever remains of financial privacy. …
You’d think they’d get at the root cause of the problem and try becoming more competitive… lowering tax rates and streamlining government operations (shocker!). But no. Instead they resort to even more Draconian tactics to lord over private citizens’ financial records and unilaterally set aside long-standing international treaties. It’s a pathetic display of exactly the sort of tactics that governments embrace when they go broke. And most of these OECD countries ARE broke– Italy, Japan, the US, Spain, Greece, etc. So what we have now are a bunch of bankrupt member states who think that they are helping the other bankrupt member states raise revenue by terrorizing citizens (rather than actually fixing the problem). It’s genius. But what else can one expect from the OECD? This is the same organization which said, in the same meeting over the weekend, that Germany should accept higher inflation so that the rest of Europe wouldn’t suffer from deflation. The arrogance is astounding.
Yet these are the rocket scientists who pull the levers that control the system.
It behooves anyone who can see the big picture to distance yourself as much as possible from this system. This means, for example, keeping a portion of your savings in real assets that they cannot control, as opposed to paper assets that they conjure and manipulate.