I see that there are people who actually believe this fairy story is credible. It isn't.

Its easy. The US obligated the taxpayers beyond our ability to pay. No mysterious devalued virtual cash. It is ACTUAL devalued cash, because our creditors will gradually lose confidence in our ability to pay back our debt.

If you borrow to pay gambling debt, its exactly like the money the government owes on your behalf. The government has nothing to show for it, and neither do we. But we still are obligated to pay it back, like owing a bookie.

The World is like a sand lot populated by thugs. Civility only existed in the US, until the Federal Bureaucracy grew into unaccountable authority, and now worse because of the virus.

That means eventually the "bookies" will come for their money, and thugs like China will only too happily assume our debt without our permission, and we will owe a bigger thug.

Not mysterious. Those unable to wrap their mind around virtual currency are clueless that they have been using virtual cash for their entire lives. It isn't something that just vanishes without cause, like borrowing too much, in part because the blockchain behind bitcoin is safer than banks.

We can dance if we want to
We can leave your friends behind
'Cause your friends don't dance and if they don't dance
Well, they're no friends of mine

Say, we can go where we want to
A place where they will never find
And we can act like we come from out of this world
Leave the real one far behind

And we can dance

This virus is not even a blip in the margin of error of the usual deaths from pneumonia and flu, 190,000 in the US in 2018 (https://healthdata.gov/dataset/deaths-pneumonia-and-influenza-pi-and-all-deaths-state-and-regionnational-center-health), 250,000 dead from medical errors: [iacld.ir]

I see no reason to accept that the elites are clutching at straws here. They seem to have a solid game plan, and they are plotting through us because 90% of ten population are sleepwalking into gas chambers and cheering the lock-downs.

Here are a few hints:
[businessinsider.fr]

[ted.com]

[biometricupdate.com]

[darebioscience.com]

The Federal government borrowed 9 trillion dollars in the Obama administration.  Every man, woman and child is now responsible for paying back about $67,500, and will get nothing for it. If you overextend your personal budget like that, you go bankrupt.

The equivalent of that for an economy the size of the Federal government is a devaluation of the currency (raising the Fed rate)
The Fed has no choice, as banks will also do that to protect their investments as too many dollars chase too few goods and inflation eventually makes the currency worthless.

No government in history has ever pushed the debt proportionally that far.  Other countries completely dissolved economically.  The protection of the dollar as the world currency will only delay the inevitable.

China has already forseen this and is making moves to become the World currency. Our last hope was for Congress to support the President at the start of his term for at least two terms of zero taxes to stimulate the economy into eventually producing enough tax revenue to pay it down.  At this point there is no power on Earth that can change what is about to happen to the U.S..

Obama, Schumer and Pelosi doubled the deficit above all previous administrations combined.  History will have their names and the Democrat Party on our economic failure.  And even though they were sure it would not happen soon enough to affect them and their families, and that they could blame Republicans, now you know!

Congratulations to those who voted for them.  Don’t blame anyone else when you can’t feed your family and have lost your home.

The virus is real even if the economy is not.

Every crisis is politically exploited by exploiters the problem I have with your analysis is that I don't believe the general population is innocent, they are just less competent exploiters and more vulnerable.

Circus and bread is what people demand and that is what they get. The people are not really the slaves but they are slaves to their emotions. They voted for bread and circus despite known that it was not sustainable. For the most part people act like bigger brained chimpanzees.

The problem with saying the economy isn't real is that most of what constitutes civilization isn't "real". The value of gold for example is no more real than the value of money. What you can purchase with an ounce of gold depends on demand. When there is high demand and limited supply the value of gold decreases. The value of gold is just as abstract as the value of money. Gold is unique only in that it is extremely difficult to manufacture. Most commodities are renewable and can be produced but heavy metals cannot and are relatively rare. They are often critical for some industrial processes, making for some "real" value, but what they are used to manufacture is still subject to the whims of the marketplace.