I think part of their plan is to float these ideas to make people panic so that they cash out their 401Ks and IRAs, paying both the tax and the penalty. If they can make a lot of people do this, they would get a nice spike in revenue.
If you take your money out, I’d convert quite a bit of it to any of the three precious metals (gold, silver, lead). Because when you dig it up the cash won’t be worth a fraction of what it is when you bury it.
Don't forget the fourth precious metal -- 'blued steel'. An extra Glock or Smith & Wesson will be worth it's weight in gold for trade once the SHTF!