PipStop

I get a call today from Karen in the office and she asks me if I have seen "the" news from yesterday. It seems like I am continually missing the big news here in the local Vancouver scene.

Blame it on the global nature of the Internet and the big American networks we are subjected to on TV here.

The particular incident happened in Langley, which is a suburb of Vancouver. Police units from four agencies (FOUR!!!) arrested four men (one agency per arrestee) at a place called Global Tourist Centre (GTC) - a currency exchange operation. Another operation called Capital Forex was also raided. Both supposedly have connections to organized crime.

I have to chuckle about the coincidence, but to be clear, GTC has nothing to do with our GTC Group (the Online Trading Advisory) and there is a distinct difference between what Trading Post does and what brick and mortar currency exchange companies do.

Trading Post makes it possible for individuals to trade in the spot Forex market, and so money is never actually physically exchanged. Meanwhile, at currency exchange operations, you walk in with a particular currency with the intention to exchange it for another currency. You'd usually do this preceding a trip somewhere.

We don't handle client funds unless it's being used for a subscription service or a product.

The funny thing about this particular article, other than the dearth of true information that is presented - it seems like the reporter operated off a press release, rather than actually being "on scene" - is that no one is named.

Now for the head-shaking part of this whole story.

Today we got a call into the office by a former Associate of Trading Post who called and asked us if we knew about this incident where those associated with Trading Post were involved.

And I guess to a certain extent it goes to show how some can get caught up in their "World of Make Believe."

With so many currency exchange operations sprouting up, though, especially here locally, it's always better to do your homework of where to exchange your money. Trading Post does its currency exchange through Vancouver Bullion.