I believe that's right -- all the foreign currencies getting slurped up as they fall apart first and migrate to the USD as the best available option.

I suppose that's where the bitcoin part comes in? Either some of that bypassing the USD, bc they've been orange pilled, or else btc slurping up the dollar in the same way the dollar slurped up everything else.

Sounds a lot like the hyperbitcoinization story except with actual financial mechanics and not just pure cotton candy hopium.