In old days the rulers used to finance warfare by impairing the gold contents of coins. In the time of paper money, the same outcome was achieved by issuing money into circulation by greater amounts than was needed to normal flow of transactions.
The resulting inflation was effectively a form of taxation transferring resources from money-holders to the hands of rulers to be used for extravagant consumption or warfare. BIS central bankers’ speeches  5  It is not difficult to find examples of financial fraud or misconduct in a more recent history. Some sorts of financial crimes are reported in the press almost weekly.