That is just not true. Sure, they are collecting some limited information on every, but mostly because its harder to collect targeted information than to just get it all.

So maybe the US has a record of every call made in Germany, but nobody is tracking some random bus driver in Bavaria.

Right now there aren't is the manpower to actually look at even a tiny fraction of what is collected.

I guess in the future, if an AI with human like ability is created, the actual monitoring of every person could occur. But it just isn't a fear right now.

I'd call it psuedo-pirvacy.