Nope.
The Oil rich nations cannot afford for the West to go through a financial collapse. I even wonder if this whole thing was not engineered to force an infusion of massive capital assets to flow back to the West from the terrorist supporting Arab oil magnates.
Sure they can - now that countries in the Far East own so many of our Treasury Bills. This will actually give the "Oil rich nations" an incentive to not have to peg to the U.S. Dollar anymore.