That was the first thing that came to mind as soon as I saw it as well, Slava.
Like I said though, you have to overcome the time lag problems. You can't instantly bring money in and out of the individual exchanges, it takes a while (not sure exactly how long).
Although there is nothing stopping someone from buying $10 000.00 in bitcoins from a Canadian exchange, and then selling them instantly on an American site. It would just take a while to get the cash out of the US BC exchange.
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