It was just last week that the first of the presidential debates was causing tremendous excitement! Donald Trump claimed a VAT tax in Mexico could have been better negotiated into the NAFTA agreement. Meanwhile, a ripple effect of the Deutsch Bank meltdown has effected the world’s oldest bank, in Italy.
Thus reads the description for my latest video, “Ripples From Deutsch Bank”, published to YouTube on October 2, 2016. The clip, which clocks in at 7 minutes and 2 seconds, can hopefully be viewed at the top of today’s blog entry.
Ah, it was just last week that tremendous excitement was in the air regarding the first of the presidential debates. This situation has been perfectly parodied in a video from Redacted Tonight. Excerpts from “Presidential Debate CRASHED By Redacted Tonight!” are included in my latest video, or you can view the entire Redacted Tonight video at this link. 
One of the claims made by Donald Trump during the debate of September 26, 2016 was that the NAFTA agreement could have been better negotiated:
Let me give you the example of Mexico. They have a vat tax, we’re on a different system. When we sell into Mexico there is a tax when they sell an automatic sixteen percent approximately. When they sell into us there’s no tax. It’s a defective agreement. It’s been defective for a long time, many years, but the politicians haven’t done anything about it. 
Doing my own checking on Trump’s claim, I have found it to be essentially correct. Products made in the United States are subject to a 16 percent VAT tax in Mexico, while products made in Mexico are subject to no such tax in the United States. This discrepancy COULD have been addressed in the NAFTA agreement.
Germany’s Deutsch Bank has been in the news lately, but financial expert Harry Dent had noted back in August that Italy’s banks were in even a more precarious state.  Now Dent’s analysis has been corroborated by a report from Bloomberg News. The world’s oldest bank, Banca Monte dei Paschi di Siena SpA, has gained indictments against top Deutsch Bank officials. The charges, reports Bloomberg, follow a three-year probe that, according to prosecutors, showed Monte Paschi used transactions to hide losses, leading to a misrepresentation of its accounts between 2008 and 2012. The deals came to light in January 2013, when Bloomberg News reported that Monte Paschi used derivatives struck with Deutsche Bank to mask losses from an earlier derivative contract dubbed Santorini. 
——- Sources ——-
 “Presidential Debate CRASHED By Redacted Tonight!”, by Redacted Tonight. YouTube, October 1, 2016. https://www.youtube.com/watch?v=v4MMtxBS15w&list=TLHcfimE49KcIwMjEwMjAxNg
 “Fact Check: Trump And Clinton Debate For The First Time”, by NPR Staff. National Public Radio (online), September 26, 2016. http://www.npr.org/2016/09/26/495115346/fact-check-first-presidential-debate
 “DEUTSCHE BANK COLLAPSE – WHAT YOU NEED TO KNOW – HARRY DENT”, by The Next News Network. YouTube, August 5, 2016. https://www.youtube.com/watch?v=hZKimNUj268
 “Deutsche Bank Charged Over Paschi Accounts as Legal Hits Mount”, by Sonia Sirletti and Sergio Di Pasquale. Bloomberg News, October 1, 2016.