"During World War II, when the Japanese Empire invaded regions throughout Asia, they would confiscate hard currency from the locals and issue their own paper currency in its place, which is referred to as “invasion money“. These conquered peoples would be forced to save and use a currency that had no backing and ultimately lost all of its value over time, and this was a way for Japan to extract their savings while maintaining a temporary unit of account in those regions."

Lyn Alden is a treasure - this is exceptionally well written.

Monetary policy being used as a weapon of war is a grotesque yet revealing portrayal of the perils of Fiat money.