You need be very careful with stuff like that. Nothing is free, if debts are being “erased” something is going to be stolen from someone to do it. In all likelihood at this point it is the purchasing power of people’s money.
You are quite correct. The "victims" will be the banks and lending institutions that have been stealing from Americans for generations. Other victims will be foreign governments that have meddled in the affairs of the United States for said generations. The biggest victims will be London and the Vatican.