I think the author meant to put this in the crypto section:
> 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.
The author also fails to cover fraud and wash trading. Besides Invasion Money, Crypto is the only other thing on the list where debts can disappear without any transfer of value.
> 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.
The author also fails to cover fraud and wash trading. Besides Invasion Money, Crypto is the only other thing on the list where debts can disappear without any transfer of value.