Question by Deepee: Why are there so many fake large quantity commodity deals on the internet?
Now and then I’ll hear someone bring up that they heard about a deal involving large quantities of some commodity such as gold or petroleum products. THey think they can make a lot of money by being intermediaries in these deals. When I researched, it looks like there are thousands of people soliciting these deals over the internet. For example, someone will be claming they know a seller who will sell 5,000,000 barrels of jet fuel for a discount off the standard market price. There is always some set of procedures defined involving LOIs, bank probes, swifts, etc…which is usually different from deal to deal.
I don’t understand why there are so many people on the internet claming to have deals. Are all these people scammers or do some of them just not know any better? Are any of these “off-market” deals involving huge quantities actually legit? What would a legitimate deal structure look like?
Answer by Judy
As long as there are idiots in this world giving their money away to scammers…..
Plenty of idiots in this word….
What do you think? Answer below!