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10 January, 2005

Define 'currency'

How many Air Miles do you have squirreled away?  From the Guardian:

According to a new analysis by The Economist magazine, the global stock is worth more than $700bn (370bn), more than all the US dollar bills in circulation, and streets ahead of Britain's 42bn of notes and coins.
Personally, I'd define the success a 'currency' by its rate of turnover, not its reserves - these figures refer to the quantity of unredeemed Air Miles, which is less impressive.

[Via Boing Boing.]


Lots of unredeemed Air Miles is a big success for the company that runs the program. They have sold all these Air Miles to the retailers and haven't had to make good on them.

Personally, I ordered a bunch of CDs with mine about a year ago, having given up on ever collecting enough to fly anywhere worth while.

Posted by Jon. at January 10, 2005 05:28 PM
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