so the side story is I seen this story posted on facebook >https://www.facebook.com/jerry.bourbon/posts/10204906154083178
This guy is a friend of mine on facebook that posted the story.*lives down here in TJ Mexico and crosses the SY/Tijuana line> https://www.facebook.com/jerry.bourbon?fref=ufi
He explains how someone could make some money with a gorilla forex money making strategy.
As many of you know, I make a little (actually more than a little) money out of arbitraging the difference between the interbank exchange rate between the Dollar and the Peso and the actual street rate in Tijuana. This is a sure money maker nine days out of ten.
What is much LESS common is for the exchange rates in San Ysidro to get as out of whack with the rates in Tijuana as they did yesterday and today. Specifically, the Dollar sell rate (how many Pesos I get if I give them one Dollar) in San Ysidro has been running between 16.15 and 16.21, while the Doller buy rate (how many Pesos I have to give them to get one Dollar) in Tijuana has been between 15.93 and 15.95. In other words, if I have 15,930 Pesos in Tijuana, I can take these to the exchange house and buy $1,000 Dollars. I can then go to San Ysidro, and exchange the $1,000 Dollars for between 16,150 and 16,210 Pesos, which leaves a couple of hundred Pesos in my pocket after getting my $1,000 back. This may not seem like much, but when you are moving $5 Grand, it starts adding up.
So, starting yesterday, when I noticed this crossing into San Ysidro in the afternoon, I had $3,900 in my pocket from my bank arbitraging that I was going to take to the ATM and deposit. Instead of depositing them, I purchased 63,180 Pesos. I then returned to Tijuana and converted these into $3,960. This morning, Elva and I got up early to pick something up at Wal Mart that had arrived, and on the way there I toke my $3,960 and turned them into 63,930 Pesos. After some ridiculous doings with Mexican Customs, I went home and decided to pay a 2% fee by taking an advance on my credit card to add another $1,500 of capital to this game, which I then promptly withdrew from the ATM and got another 25,000 Pesos. I then turned all of this into $5,585, which included $4,013 from the above 63,930 Pesos. I had left my car in San Ysidro as I crossed in a friend’s pick up truck, so after I got home, I grabbed my bicycle and rode back across the border to San Ysidro. I then turned the $5,585 into 91,200 Pesos. Driving back to Tijuana, I turned this into $5,653 Dollars. Later on, we crossed back into San Diego to go to the hockey game, and I turned the $5,653 into 91,300 Pesos, which, after the hockey game, got turned back into $5,727 Dollars. Between what I had on hand this morning plus what I added to the stock, I started the day with $5,439, meaning I basically fabricated $288 out of thin air, plus I have a handfull of loose Dollar bills and 10 and 20 Peso coins. Call it $300 on the day.
The only down side to this is the absolutely incredible hoops the American exchange houses make you jump through when you are moving over $5,000 at a time. If I tell them the truth, they will think I am in competition with them, and refuse to exchange. So I had to lie and say it was for rent money, or to pay my employees, or whatever. A little known fun fact is that ALL the exchange houses in San Ysidro are owned by one of two people, so the third time through, Elva and I had to go from place to place changing $800 or so at a time, as I was already on the books as having changed a large sum once today. Thank you War on Drugs/Terror..