Assuming they don't set of a Nuke somewhere to create a crisis big enough to print the 20 trillion they need, yeah probably.  I'm not sure they will let it get that far.  Their backs are against the wall now and they are going to break the emergency glass if they need to.

What will bitcoin do in the event of WW3, I dunno.  I guess it depends on if the thing is big enough to destroy human civilization or not.  If not, probably good for Bitcoin long term.