War is strongest cause for it.
If someone builds a house, he must spend a lot of money. However, afterwards there is a house, a valuable thing standing against this money.
If someone wags a war, he must spend a lot of money. But afterwards, he has trouble.
No matter who was victorious, after a war you have trouble.
So nothing valuable stands against the money spent for the war.
Moreover, a lot of valuables, for which money was spent, were destroyed during the war.
Nevertheless, all this money is valid currency. So there is more money on hand, but less to buy for it, and consequently money is devaluated.
If there can be a natural law for something as artificial as money, this is one:
Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.
Dwight D. Eisenhower, 1890 - 1969
Deutsche Fassung
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Published 2006-07-15 / Eisenhower added / Karl-Heinrich Fischle, Hannover