The Brazilian government has announced they have started monitoring every citizen's financials if their monthly accumulated movement (inflow + outflow) exceeds the equivalent to 819 dollars1.
What is included in their surveillance:
- All accounts (regular, savings, investment) balance, payments, cheques, transfers, yields, and redeems
- Movement between accounts owned by the same person
- Purchase and sale of foreign currencies
- Investments credits, debits, purchase, sale, redeem, and liquidations
- Pensions and insurances
- Credit pools (often people do this to acquire expensive assets without paying too much interest)
Obviously this is a socialist/communist leaning government, so intervention and control is their bread and butter. They have introduced many new taxes after they came into power, but since they got some push back and our central bank isn't obeying them (they are independent but heavily pressured/influenced) to lower interest rates, they are trying to steal (through taxes) a lot more money from people to enable them to spend more and to help their accounts end every year less negative due to the consequences they've been suffering.
The only real answer would be to go full sovereign, close all accounts and only deal in Bitcoin or if I need fiat to keep the physical version instead. But that's too painful as you become isolated from the rest of the society.
What is the best answer?