http://www.eagleforum.org/column/2011/feb11/11-02-25.html
The ultimate danger in a constitutional convention is that it could ultimately nullify our existing constitution. It could then replace our constitution with whatever guiding principles (new constitution) it chose... from absolute anarchy, submission to a world governing body, to Marxist communism. With what we've seen from political types over the years, a constitutional convention isn't something to play with. The power of such a convention can not be overstated. Once that fuse is lit, all bets are off.