In "Debt:- The first 5000 years". David Graeber argues that during medieval ages economies operated a whole lot on credit relations. What is the veracity of this claim? Because as far as I know there is a lot a coinage available in medieval India. There was also an inflation due to Mohammad Tughluq's coinage experiments.
He further insinuates that in Islamic Caliphates slavery was minimized. Is he saying this only for debt bondage relations as he later states military-slavery-coinage system was still in place in caliphate?
He further hypothesizes that Jajmani/Balutedari systems in India came about being due to the credit relations. If this is true how and when did these systems came about being
Can you please quote the section on Europe more extensively? Lots of actors in the Middle Ages engaged in credit relationships. I can speak more to this, but it would be helpful to get some more information. I think part of the issue that is causing confusion is you're conflating the roles that credit and currency played in society.