Well written and engaging.

My executive summary:

Until recently, we had economies working on credit, not currencies. Currencies only become popular under militaristic empires. When these empires collapse together with their gigantic armies, we go back to a credit system. Credit systems are decentralized and support trust-based trading. Currencies are the basis for what we call "markets" today, that is, anonymous state-supported trade systems. The move to a fiat currency in the 1970s, according to Graeber, is actually a natural evolution... it is a prelude to the collapse of the currencies and of the American military empire. If you follow his model, we are headed straight for a decentralized credit-based system with small armies, modest governments.