Thanks to Bob Meyer of Barter News for some important news on “bartering” airline miles. There is a new Global Points Exchange where you can “Trade the miles and points you have, for the miles and points you want.”
The catch, at least for the moment, is that (1) only a handful of airlines are participating (however, American Airlines is one of them), and (2) the airlines are imposing large cash fees on trades. (See the excellent article on this development at Smarter Travel.)
Airline miles could become a true alternative currency if the airlines would make it easy and cost-free to transfer miles/points from one account to another. – t.h.g.