US has huge debt -> No US politician will ever default on it -> They will print money to pay it -> Dollar loses value.

That's fairly simplified but I hope you get the point. Since they see this as a dollar crisis, they are busy buying gold, silver, gold stocks, and assets in countries that have dollar-denominated debt.

I'm going to add my 2 cents here and say that in my opinion, if the Corona situation will be solved quickly enough, or at least be perceived to be solved by the public, a rush of optimism will allow the fed to inflate the bubble and postpone (and worsen) the depression.