From Nick Giambruno, Editor, International Man:

Financial privacy is dead.

You should assume that, sooner or later, all the details of your financial life will land in a government computer — if they haven’t already — and plan accordingly.

A record of pretty much every penny you earn, save and spend is permanently stored somewhere. And the government could retrieve that information if it wanted to.

It’s not a comfortable or happy thought. Knowing you’re financially naked and exposed to an insolvent government hungry for revenue might make you feel like you just ate rat poison for lunch.

But don’t try to illegally hide your income or skirt reporting requirements. It’s a fool’s errand. The draconian penalties make the cost/benefit analysis easy… don’t even think about it.

An Inescapable Global Dragnet

The U.S. can access information about any account virtually anywhere.

The Foreign Account Tax Compliance Act (FATCA) is a wildly…