Right but it is government spending beyond that nation's means that is the root cause.
The Greek debt crisis was a great example of this, since they couldn't directly control the printing of the Euro, they were forced instead to siphon money directly out of citizen bank accounts to service the national debt.
You could imagine the same thing happening with a nation on a gold standard. In fact the US did something similar in requiring all citizens to deposit their gold holdings. Inflation of a fiat currency is just one of the many ways in which governments can 'tax' citizens to pay for government spending.
The Greek debt crisis was a great example of this, since they couldn't directly control the printing of the Euro, they were forced instead to siphon money directly out of citizen bank accounts to service the national debt.
You could imagine the same thing happening with a nation on a gold standard. In fact the US did something similar in requiring all citizens to deposit their gold holdings. Inflation of a fiat currency is just one of the many ways in which governments can 'tax' citizens to pay for government spending.