>I don't see how this will work, unless every country does this, or your currency becomes non-convertible. You say this as if tax fraud is a consequence free a

>I don't see how this will work, unless every country does this, or your currency becomes non-convertible. You say this as if tax fraud is a consequence free activity. >And even then, you would still be able to buy stocks, expensive jewelry, gold, houses and so on Sure, but everyone will do that, so those asset prices will surge making it a poor investment