Article V, US. Constitution

The Congress, whenever two thirds of both houses shall deem it necessary, shall propose amendments to this Constitution, or, on the application of the legislatures of two thirds of the several states, shall call a convention for proposing amendments, which, in either case, shall be valid to all intents and purposes, as part of this Constitution, when ratified by the legislatures of three fourths of the several states, or by conventions in three fourths thereof, as the one or the other mode of ratification may be proposed by the Congress; provided that no amendment which may be made prior to the year one thousand eight hundred and eight shall in any manner affect the first and fourth clauses in the ninth section of the first article; and that no state, without its consent, shall be deprived of its equal suffrage in the Senate.

If you watch Cenk Uugyr and The Young Turks you know about their project to get money out of politics: Wolf PAC

To restore true, representative democracy in the United States by pressuring our State Legislators to pass a much needed Free and Fair Elections Amendment to our Constitution. There are only 2 ways to amend our Constitution: (1) Go through Congress (single digit approval rating) or (2) Go through our State Legislators via an amendment proposing convention. Wolf-PAC believes that we can no longer count on our Federal Government to do what is in the best interest of the American people due to the unfettered amount of money they receive from outside organizations to fund their campaigns. We point to the failure of the Disclose Act as rock solid evidence that this would be a total waste of our time, effort, and money. We also point to the recent decision by the US Supreme Court to not even hear a case filed by Montana claiming it did not have to abide by Citizens United, as proof that state legislation is not a sufficient measure to solve this problem. We believe that we have no choice but to put an amendment in the hands of our State Legislators, who are not, at this moment in time, completely blinded by the influence of money, and might actually do what 96% of the country wants — take away the massive influence that money has over our political process.

The idea that you could open a Pandora’s box like a constitutional convention and confine it to getting money out of politics is delusional. When Louis XVI called the estates general he intended it to confine itself to solving the nation’s fiscal crisis, but as we all know, it overthrew the entire French ancien regime.

As it happens the Koch Brothers are also working towards a constitutional convention:

In statehouses across the country, ALEC-backed legislators are pushing for a balanced-budget amendment, a repeal of the federal income tax and more.

This may be part of the explanation why Wolf PAC has been successful in building bi-partisan support. The Republicans are eager to call a constitutional convention on any basis that they can.

Were this to happen today it would be an unmitigated disaster. The right wing would hijack such a convention and strip us of all our remaining legal protections against tyranny.

The difference between myself and Bernie Sanders is that Bernie thinks that we need a political revolution whereas I think that we are going to get one whether we want it or not. Our 18th Century constitution is coming apart at the seams. It needs a complete rewrite not just to get money out of electoral politics, but constitutional safeguards against concentrations of economic power, which are as great a threat to liberty as absolute monarchy was to our ancestors. We need FDR’s proposed additions to the bill of rights. We need to make voting mandatory as the Australians do. We need to guarantee the equality of women, we need the Equal Rights Amendment written into the body of the new constitution. But none of the can happen until the left is greatly strengthened. A constitutional convention at this time would be a disaster.

So how do we strengthen the left? By mobilizing at every level of society. We need a leftest takeover of labor unions, or at least elect as many lefty shop stewards as possible. We need a lefty takeover of civic associations, public television stations, faculty committees, in short every institution of civil society. Does that mean that everything has to be politicized? Yes, because that is what revolutions require, and we want to make sure that at the end of this Revolution we get a Havel or Aquino and not a dictator. We need to study the revolutions of Eastern Europe of 1989, we need to study the Philippines snap election, and the Costa Rican revolution of 1948. In short, we need to study every revolution that left people better off than they had been before and learn from their example. Above all, we need to put aside all illusions about our present situation.