I think we should boycott the US and impose trade sanctions.
The reporting agreement with the IRS is reciprocal (meaning that the US gives other countries information on their account holders with US accounts). Compared to the rest of the world, the US has relatively fewer tax evaders with offshore bank accounts. Thus the US is effectively lending the force of its financial markets for the global crackdown of tax cheats world-wide.
Most countries are expected to enter into inter-governmental agreements with the US, meaning the international banking landscape will become more connected. In 5 years, it will be extremely difficult to hide money in the traditional banking system.
