How Internet Brokers and Agents Kill Petroleum Deals and Oil Deals As Intermediaries in Trading

Overzealous and Misguided Joker Broker Types and Agents Are Often the Biggest Obstacles in Successfully Closing Deals or Making Money in Oil Trading

A. THE AVERAGE BROKER/AGENT INTERMEDIARY TODAY, FAIL & EARN NO INCOME

According studies, normally due to the central role that the Internet has performed in international buying and selling, the real market for the intermediaries or middlemen inside the international 'secondary' market trading has been collapsing pretty hastily these days. Estimates from such experts and money owed with the aid of skilled dealer, assert that the year 2000 was the ultimate "correct year" for the intermediary inside the business. Kamal J. Southall, as an instance, continues that "after 2000, the essential mass of agents and traders who have been ill-knowledgeable and poorly educated, as well as of fraudulently applied gives and scams, reached the factor that actual end-customers manufacturers and suppliers truly stopped responding [to intermediaries] besides in wonderful cases."

Southall estimates, bringing up another experts' calculation, that out of some 1,000,000 people presently seeking to make it as agents or trade intermediaries inside the international, "perhaps no extra than 1% has the education and skill had to ever near a deal... [meaning that] the overpowering majority, are buying and selling blindly, [hence] deals are collapsing... And greater to the point, [oil dealers are] being defrauded - every now and then massively"

In factor of truth, the overall consensus amongst experts, is that formerly, earlier than the modern introduction of the predominance of the Internet in international trading when facsimile and telex buying and selling had been the preferrred medium for the business, there had existed a reasonably strong and viable market, although small, for the intermediary agent. Such that it turned into as a substitute commonplace for an middleman to every so often get to a contract ultimate stage and to shut deals and earn as a minimum affordable fee earning. But that there has NOT been such an intermediary market currently for some years now, because the new Internet era. But rather, that the sort of marketplace for the middleman has essentially been dead for all however the most skilled and skilled intermediary inside the marketplace today - killed in part, though never completely, by the preeminent use of the Internet medium through the Internet dealer and middleman.

In short, the brand new truth of nowadays is that even as, in the days earlier than the Internet, the average broking, agent or other intermediary or 'middleman' involved in worldwide trading usually and successfully closed offers and earned first rate income with at the least some modest frequency, quite to the opposite, such broking or agent or different intermediary who operate in this contemporary Internet technology, however, hardly closes any deals or earns any earnings inside the business any extra.

And what elements account for this phenomenon - for the truth that these agents and other intermediaries normally make no sales or income on this Internet technology?.

B. MAJOR REASONS ACCOUNTING FOR THIS

There are many factors which account for this. Briefly summed up, they variety from the dramatically expanded number of scams and fraudsters within the enterprise, made a great deal less complicated with the aid of the guard of anonymity furnished by the Internet, to relative loss of right education, competencies or understanding within the basics of the commercial enterprise popular most of the cutting-edge elegance of agents and other intermediaries because of the easiness of considered necessary qualification for one to emerge as an Internet "dealer" or intermediary, to the detail of the increased pervasiveness of "The Joker Broker" mentality and behavior a few of the Internet-technology brokers, agents & different intermediaries. However, all these various causative factors being duly taken into consideration, perhaps the unmarried, overarching, maximum paramount consideration accounting for the woeful failure and inability of the cutting-edge broker and the middleman to effectively do commercial enterprise, ought to simply be subsumed into this one vital subject and be summed up as follows: using, and reliance upon, badly improper and erroneous method, policies and tactics for oil deals at the part of the modern magnificence of intermediaries in doing business - a category of intermediaries this is often usually notorious for being especially untrained, inaccurate and uninformed as to the actual and right manner of doing the commercial enterprise.

Most unfortunately, regularly the give up result of the above truth, is that via largely relying upon and the use of such inaccurate and badly fallacious technique and procedures in doing business, such brokers and agents, who're notorious, as properly, for often being overzealous, self-consumed and determined to discover a buyer or make a quick fee in any respect charges, basically grow to be, themselves, without a doubt the biggest barriers to themselves and fellow agents and sellers in efficiently last deals or creating wealth in the oil buying and selling enterprise!

C. THE BASIC WAYS MISGUIDED BROKERS & AGENTS BECOME THE MAIN OBSTACLES

Broadly speakme, there are a few primary identifiable predominant methods in which this rather brilliant phenomenon of the cutting-edge overzealous and faulty Internet broking or agent constituting an obstacle in successfully doing enterprise, frequently manifests itself.

USE OF BADLY FLAWED & IMPRACTICAL METHODOLOGY AND PROCEDURES IN DOING BUSINESS

But, probable the most impactful but pervasive way and way wherein the overzealous and misguided dealer/agent intermediary often constitutes himself (or herself), whether or not intentionally or by chance, into a crippling impediment, in preference to an useful resource or facilitator, to efficaciously doing petroleum offers or ultimate one, is largely by their use of method and techniques which can be badly improper and faulty, unrealistic, unreal, impracticable, and frequently downright pie-in-the-sky like and comical.

A traditional example of that, is the common motel with the aid of many Internet brokers and marketers to apply of the arcane methods including the 'LOI,' 'ICPO,' 'NCND,' 'BCL,' and many others., in doing enterprise. According to many reputable professionals and seasoned practitioners within the buying and selling field, the employment of processes together with those through any supplier or intermediary, is in reality an automatic marker which immediately gives away the user as a trade novice or middleman and a failure who not only lacks the needful education or know-how of the right buying and selling strategies, however who apparently has never efficiently closed any offers, and never will. In deed, to a seasoned purchaser (or the agent of one), getting a sales provide from a provider or agent which opens with such terms and procedures, is commonly a clean marker which automatically units off an alarm bell in the sort of customer's head, spelling hazard and capability doom to the consumer. As one professional positioned is, "In reality the presence of a lot of these terms are considered to be symptoms of Advance Fee Fraud, by way of knowledgeable gamers and regulation enforcement."

This is how an intermediary who admitted to being a failed Joker-Broker with a prior file of a string of screw ups, however who later acquired the right schooling and became a reformed broking, and is now a a success multi-deal closer, sums it up, writing in the jockerbroker.Com website:

"When a deal begins off with 'send ICPO with BCL or Soft Probe, NCND and IMFPA,' this is 'broker language.' Those that recognise broking language realize what this means: 'I'm a joker dealer. I have no real product for sale, and I do not know each person who has any, so I want you to offer me an Irrevocable Purchase Order together with your complete monetary info disclosed, so I can run around with your order and your cash in my fingers, looking for product, and the subsequent thing you notice might be your company and banking information exposed to the whole world, jogging around unsecured at the Internet between thousands of different joker brokers.' "

Fundamentally, the primary cause that using such strategies are normally viewed by way of specialists as badly improper and incorrect, and as frequently constituting the largest barriers to many a dealer or agent in successfully remaining offers or earning profits in oil trading enterprise, is alternatively simple: the ones tactics and method are genuinely inappropriate or unworkable and impracticable, pure and simple! They are beside the point and unworkable in the context of the real global of commercial enterprise environment in which they're looking to operate or do enterprise. And consequently, because those procedures and technique are of such nature, they invariably fail, and necessarily by no means work. Why? Basically, due to the fact providers who get hold of such stupid tactics from intermediaries or capability customers, being already sickened by the ones forms of strategies, simply can't be  to answer to them, even as similarly, the cease consumers may not be troubled with replying to similarly silly and sickening offers from dealers. In outcome, the end result is that the best people supposedly 'buying and selling' are merely the erroneous intermediaries passing round make-perception 'deals' from one erroneous intermediary to another, basically consisting, for the most component, of shoving round the standard inappropriate or unworkable processes like the 'LOI.' 'BCL,' 'ICPO,' and unverified 'POP.'

In deed, say some experts - maximum of whom frequently signify these strategies in derogatory phrases like 'unsafe,' 'impracticable,' 'misguided,' and 'misused' - many a time even the intermediaries, themselves, who employ these phrases and techniques are absolutely nicely conscious that they have got not been able to near a deal in months, even years, of using these badly wrong terms and tactics, and likely in no way will. But yet, these specialists upload, these intermediaries will no longer admit that these techniques are incorrect and feature not gotten them any offers within the past, and every new intermediary in the 'dealer chain' simply keeps, any manner, to skip the flawed copied techniques down the unending 'daisy chain,' from one broker/agent middleman to the other in their make-belief 'deals' and 'buying and selling.'

SO, WHY DO THESE JOKER BROKER TYPES INTERMEDIARIES STILL PERSIST IN USING THESE FLAWED PROCEDURES, NEVERTHELESS?

Given the vital fact we have simply sketched above to the impact that those approaches and method are often irrelevant or unworkable, and they always result in failure and no earnings at the part of the Internet intermediaries, a major curious question of large relevance, is that this: Why then? Why then is it that these Internet intermediaries generally refuse to apply the proper oil deal approaches but plunge in advance, any manner, and still have interaction in doing enterprise using exactly the ones equal badly mistaken and unproductive techniques? Or, to place it every other way, what forces or pastimes seemingly impel them to keep carrying out enterprise that manner, any way, such that, in effect, via engaging in business that way, that unique role that such intermediaries play generally makes them, whether or not wittingly or unwittingly, a top obstacle on their own path, and on the direction of most different intermediaries, in being able to close offers or to earn profits?

THE ANSWER? The primary motive, in a word, is basically related to the private economic self-interest of the intermediaries, and the desperate egocentric choice on their component to quick land a actual provider or cozy a fee profits through any and all way in any way.

Many insightful specialists and keen observers have mentioned, as an example, that many of those arcane procedures being hired through these Internet intermediaries (the LOI, ICPO, BCL, NCND, and many others), are sincerely generally no longer initiated or required by using the essential buyers (i.E., the customer or the vendor) concerned within the commercial enterprise, however are merely the non-public innovations and initiatives of the overzealous intermediary sorts created, designed, improvised, and used largely with the aid of them to benefit for themselves a few undue manipulate inside the trading method, and, most significantly for them, to keep away from "circumvention" through other intermediaries in a deal, and, thereby to create or justify getting paid a commission profits, themselves, in a deal.

THE ILLUSTRATIVE CASE OF THE USE OF THE LOI BY OVERZEALOUS INTERNET SELLERS & INTERMEDIARIES

A proper living proof for illustrating the above factor, is the frequent resort to using the so-known as "LOI" (Letter of Intent) by Internet sellers and intermediaries in initiating exchange gives. The use of the LOI (Letter of Intent) file is a relevant system not unusual amongst many present-day Internet brokers and intermediaries, and a few dealers, as well. Basically, those brokers and intermediaries could often demand that any proceeding or involved client need to first present the LOI document in showing and initiating an hobby in a alternate provide or making a buy. And, in keeping with such intermediaries, proceeding customers need to do so because, they say, with the aid of signing this kind of file on the very starting of the selling system and handing it over (thru them, of route!) to a supposed supplier of a product, that gesture, they claim, constitute a super demonstration of legitimacy of interest at the part of the might-be buyer, and might be showing that he (she) is "severe" about creating a purchase.

Yet, besides for these Internet investors and intermediaries who habitually persist in the usage of those processes, in reality all credible and revered specialists in the enterprise point out - and, to my know-how, no credible sellers or shoppers, or maybe intermediaries, dispute this reality or have demonstrated otherwise - that this record is largely a legally nugatory, meaningless, and even dangerous piece of paper, which is of no prison force or impact by any means, and is legally nonbinding and certainly unenforceable upon any of the applicable parties involved in a deal, whether or not it's the signer of the document (the purchaser), or the seller to whom it's miles given, or the middleman.

Which, once more, logically inspires the authentic query, WHY? Why then do these Internet investors and intermediaries retain to apply or insist on people searching for products/services the usage of the LOI procedure in beginning their trade deals and gives, even though it is not only an really worthless method that is of no real effect or prison that means to any credible purchaser, but essentially constitutes a main impediment to a critical intermediary in ever being able to close a deal, and even though this document squarely falls under the notorious category of the types of techniques which are, inside the words of Davide Papa and other respected specialists on the concern, so "risky, inappropriate, impracticable, unworkable and misused," that "anyone trying to do enterprise with those types of intermediaries [who use them], can also be not able to close a deal or collect a cent in commissions, irrespective of how long they change for or how hard they are attempting."?

The solution is that the central clue actually lies immediately inside the reality imbedded on this assertion by means of Toby Winson, a eager analyst of the issue, in his essay titled, the "Joker-Broker-Land": "More than 95% of the time, the LOI is written by a dealer, no longer via the seller, and, for the maximum element, those brokers have just reduce and pasted information that they obtained from other agents. Thus all the conflicts and errors within the [LOI] are copied and skip[ed] along from joker to joker."

In other words, always, those intermediaries insist and persist in the usage of the LOI and other in addition sick-outfitted joker broker kind documents (whilst, in fact, all rational reasons could dictate otherwise), in particular for motives which are in reality selfish and rather private and have sincerely NOTHING by any means to do with looking to do precise, valid, a hit enterprise or looking to achieve any level of wholesomeness relating to the commercial enterprise, itself. Nor something having to do with the securing, renovation or "protection" of the valid pursuits of the supplier worried within the deal. But, as a substitute, have the entirety to do with their very own personal, selfish monetary self-interest and agenda, and with their personal obsessive subject with landing for themselves a legitimate provider and/or client of a product and for incomes a commission.

The point is that the proof is strong that often instances, many overzealous, exquisite ambitious, aggressive agents and marketers, specifically the obscure or rip-off-orientated ones, who constitute themselves as sellers' representatives or mandates largely through Internet contacts or communique, or even claim to be the actual crude Sellers, themselves, hire the LOI simply as a tool to quick "corner and container in" a prospective consumer to decide to a purchase deal with them proper upfront. That is, to devote before the potential consumer may probable call for that they offer their business profile or display him some thing tangible to illustrate that they absolutely constitute, or are, legitimate dealers. Thus, such intermediaries, or sellers, might consistently demand that the searching for what you offer hurry and issue them an LOI right in advance purportedly as proof that they're "severe" about making the purchase. And, as for the intermediary himself, what he deems as the maximum seriously crucial matter for him is that, through having that LOI file signed and submitted to him (probably for the intermediary's onward transmission of it to the meant "supplier" of the product), the middleman himself - and NOT necessarily the meant dealer or vendor - shall have speedy "cornered and boxed in" the possible consumer and secured his commitment to the middleman, although now not to the purchaser.

Many a time, mainly in a case concerning a intended supplier who is either a fake vendor or does not really have any crude in hand but, or an unscrupulous aspiring dealer's agent or broker who virtually has not obtained a crude provider (dealer) but, consumers can also issue a purported 'vendor' an LOI handiest to find out that there's no seller on the other stop. This happens a lot in conditions where you've got an hungry or overzealous agent or facilitator who's nonetheless suffering to get a actual supplier, and through extracting this LOI from an unsuspecting customer, this facilitator can dedicate the buyer to the agent or facilitator handiest for him then to begin hustling to discover a supplier or dealer.

C. SECOND BASIC WAY IN WHICH SOME MISGUIDED BROKERS & AGENTS CONSTITUTE THE MAIN OBSTACLE

There is some other basic important way in which the new role of the overzealous, inaccurate Internet broking or agent as an impediment to correctly doing commercial enterprise, frequently manifests itself. And that is the pernicious results frequently introduced approximately by means of the phenomenon of the long string or chain of agents, retailers, and middlemen regularly involved in the method, with most of them undercutting each different.

Many a time, the offers provided through an middleman for an oil deal, might include one long chain after some other of too many folks that move by means of exceptional titles, including "broking," "mandate," "agent," "facilitator." But, what is worst, is that, in part as a result of the digital lack of any objective necessities for qualification for sporting the mantle of being a "broking," or "agent" or "middleman" in the trade today, and the benefit of access into Internet buying and selling, such Internet intermediaries usually tend to function in a weather of very little guidelines or requirements at all and of unfastened or no ethics, wherein the "canine devour dog" mentality seem to prevail - a climate in which each broking, agent, or mandate, being simplest selfishly concerned with just his own private profits and self-hobby, is constantly looking to undercut and evade the opposite in offers. Thus, regularly main to the remaining detriment of ALL the events concerned in a suggestion, as ALL of them, as an entire, and now not simply one celebration or the alternative, forever land up the losers due to the fact NO deal in any respect is had with any buyer.

To be sure, the problem of an intermediary potentially being "circumvented" by some other, or by means of a essential, is a legitimate trouble actually worthy of concern and attention via any middleman worried in a buying and selling deal, greater specifically in a petroleum deal which is an enterprise this is especially infamous for being a hotbed of get-rich-quick day dreamers and unscrupulous gold diggers who aren't specifically referred to for his or her extremely good ethics, excessive schooling or training, or fantastic person. Absolutely and categorically so! However, the central point to be made here is that legitimate difficulty about feasible circumvention want not necessarily be allowed, but, to degenerate into obsessive paranoia that ought to cripple making all progress in a deal, and that there is, certainly, a more right and powerful way and strategy with the aid of which that every one-vital 'circumvention' difficulty can be better addressed and might clearly do away with the opportunity of circumvention of any intermediary in a deal.

For our gift purposes here, what's applicable to note is that the function phenomenon of getting an extended chain of too many human beings as intermediaries in a deal, every egocentric, distrusting and suspicious of the other and unwilling to collaborate and yield wanted facts to the opposite, frequently provides profound and insurmountable problem, basically making the intermediary, himself, the important drawback and impediment to operating out a deal or last one. Principally, while such phenomenon rears its unlucky head in a deal, it significantly slows down the distribution of data, or maybe brings it to an absolute halt, therefore absolutely crippling and finishing any prospects of having any deal. Furthermore, the difficulty of 'fee charge splitting' arrangement will become greater intense and furiously contentious in such situations, as most of the intermediaries in the chains, gripped through worry, selfishness, frustration and personal greed, tussle over the difficulty of which group takes how a good deal or what percentage of the fictional "commission" - a fee that is, in the first region, merely a figment of anybody's imagination at this point considering the fact that nothing is yet to be, and not anything may additionally, in reality, ever, ever be ultimately, in any case that empty noise and hype is finished!

This kind of situation could take place although, and wherein, a deal seems genuine and in any other case promising and whole with all of the factors of being doubtlessly a hit. Thus, a legitimate buyer may need a product and require the broker or agent who delivered him the deal to provide sure important information, or to authenticate it. But because the buyer, or the intermediary, has to undergo a protracted chain of many hands before he could get the needful statistics - a hassle which, via the way, a educated, experienced and self-assured intermediary should without difficulty resolve via putting in place a 'step again' arrangement - it soon makes the deal not able to transport ahead and the consumer to lose agree with, or otherwise destroys believe a number of the principals and the intermediaries involved in the deal, thus successfully killing the deal.

D. OTHER BASIC WAYS IN WHICH SOME MISGUIDED BROKERS & AGENTS CONSTITUTE THE MAIN OBSTACLE

Other primary approaches in which the brand new role of the overzealous, misguided Internet dealer or agent as an impediment to efficiently doing commercial enterprise, regularly manifests itself, could consist of the following:

1. Presentation of Unverified Material with No Due Diligence

This is one of the maximum infamous hallmarks of the 'joker dealer' type agents and retailers who generally function at the Internet these days - they typically gift gives, 'SPA' contracts, and 'offers' that lack any VERIFICATION in any respect, or one upon which any DUE DILIGENCE has been executed as to their authenticity, genuineness or intrinsic well worth or price, if any in any respect. Thus, as those intermediaries are capable of ship masses, even heaps, of e-mail offers simultaneously to numerous dealers, with without a doubt none proven or maybe verifiable, one principal result of that is that, within the stated words of 1 expert, "Suppliers can't be  to reply to dubious purchase gives or requests for quotes. Similarly, the quit shoppers may not reply to similarly stupid gives." And consequently, ensuing in a failed marketplace, with out a offers commonly closed by means of most intermediaries, nor any commission earnings ever being earned by using any!

2. Lack of Knowledge of Product:

Frequently, the intermediary who comes imparting a 'deal' or bearing an 'SPA' Contract shape, woefully lacks any operating know-how of the petroleum product or market that he (or she) purports to be selling - subjects like the standard first-class specification of the product, or its modern charge in the global marketplace, the production capacity of crude for a country, and so on (no longer to talk, of path, of getting understanding of the proper method, rules or methods of the enterprise). Clearly, how can one market a product that one knows not anything approximately? Often, the stark lack of information of the middleman is soon exposed while such an intermediary receives asked certain basic, standard questions by the involved buyer or his agent and the middleman comes again, normally after several days of inaction, with some thing like, 'I've sent your inquiries to my vendor, and I'm ready to get vendor's respond'!

Or, even worse nevertheless, a client whose interest in a proposal might have become ignited inside the deal, would possibly location a phone call to the middleman wanting to examine if he's knowledgeable approximately positive factors or statistics of the product or offer that the middleman purports to marketplace considering the fact that it's been amply proven that an experienced dealer could get a honest assessment of the seriousness or genuineness of a supplier or the provide he's peddling by using simply 'feeling the heartbeat' of the provider or his purported consultant via a mere smartphone communication. However, being that the common Internet intermediary frequently lacks the considered necessary knowledge approximately the petroleum product he purports to market (not to talk of expertise of the regulations and methods of the realm of global alternate, commonly), a long way greater often than no longer, the middleman losses the opportunity to domesticate the important agree with and credibility issue with the customer thru mere demonstration of know-how about the product or provide he purports to market

IN SUM

In sum, the overriding, pivotal, essential challenge of every Internet middleman or supplier, broker, agent or other intermediary who operates in the "secondary" international oil trading marketplace these days and desires to be triumphant, is to make certain to use an appropriate petroleum deal approaches, and that he (or she) does NOT, himself, for motives of parochial selfish considerations, represent the actual impediment to carrying out legitimate business with credible buyers. But as a substitute, that he constitutes, in stead - essentially by using dent of the type of running procedures he employs and proffers - an resource, consolation, and real facilitator to legitimate enterprise operatives and to doing valid business with valid consumers..