Old Jun 30, 17, 5:25 pm
FlyerTalk Evangelist
Join Date: Mar 2002
Location: Berlin, Germany; Toronto, Canada; and SW Florida, USA
Programs: UA 1K, BA Gold, Hyatt Globalist, and assorted others
Posts: 22,077
Originally Posted by airzim View Post
I disagree. Currency is only what is perceived as a value for the trading of goods. You can accumulate miles and trade them for airplane seats, TVs, magazines, etc. In the US they are not taxed, but that's not true in every country.

@ LondonElite "The difference is that you own the currency. You don't own the miles, or their 'value'."

You don't own currency. It's property of the issuing government.
You don't own the paper notes but you own the value they represent. The issuing government can't take that value away from you. You don't own the miles or their value, and the owner can take them away at any time.
LondonElite is online now