Syncing terms between vocabularies

Is there any way to sync user entered tags between vocabularies?

The problem is following: I have two content types that I wish to be using the same terms, when someone adds a tag in one it should be available in the other.
I could use the same vocabulary for both, but I wish to generate different tag -clouds for these content types, and different taxonomy lists (when you click on the tag on one content type, you get a list of nodes only of that content type).

It may seem complicated so I try an example:

Two node types - band , concert
Vocabulary - genre
If you add a band with a tag - 'postmortem vegetarian glam hard core' ;)
and then you wish to add a concert of that band, you will have a hint with that tag.
But when you view the node and click the tag on a band node you'll get only the list of bands tagged with that term, and likewise on a concert node.