I didn't read the book but here's the way I think about things. Federal Reserve Notes represent a proxy for some "work" to be done in the future. Gold represen

I didn't read the book but here's the way I think about things. Federal Reserve Notes represent a proxy for some "work" to be done in the future. Gold represents a proxy for "work" that's already been done. If what Graeber is getting at is the notion that I'll give you these widgets or perform this service now in exchange for some widgets or work to be done later then I would agree, debt did exist before money.