"The contingency plan in question is the Continuity-Of-Government plan (COG), first drafted in 1949 under the Truman regime shortly after the Soviet Union detonated its first atomic weapon," Martin explains.

In addition to COG, "Bush has this power under Patriot I Act with the expansion of his authority under the War Powers Act of 1947, since, it should be remembered, a declared state of national emergency already exists in the United States at present," Martin writes in his column, "Canceling US Elections: It’s Easier Than You Think."

"The biggest story of the past week has been regarding the possible postponement or cancellation of the US presidential election," writes Martin, author of "The Conspirators: Secrets of an Iran Contra Insider." "This is actually much more sinister than the White House is making it appear.

"According to the release by the White House and the US Election Assistance Commission, the White House is supposedly just asking the Election Assistance Commission to work with the Attorney General and establish a legal mechanism, wherein George Bush could change all 50 state constitutions, as well as county and municipal election laws in one fell swoop -- in the event it became necessary to postpone the elections.

"The sinister part is that Bush, in the post-Patriot I environment, already has (as we’ve said a hundred times before), the legal authority to postpone or actually temporarily cancel the elections. These are two different legal mechanisms.

"The only reason Bush would need the underlying state constitutions and county and municipal election laws to be changed is if he intended to invoke his authority to permanently cancel elections.

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* AL MARTIN is an independent economic-political analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. As a former contributor to the Presidential Council of Economic Advisors, Al Martin is considered to be a source of independent analysis for financially sophisticated and market savvy investors.

After working as a broker on Wall Street, Al Martin was involved in the so-called "Iran Contra" Affair as a fundraiser for the Bush Cabal from the covert side of government aka the US Shadow Government.

His memoir, "The Conspirators: Secrets of an Iran Contra Insider," (http://www.almartinraw.com) provides an unprecedented look at the frauds of the Bush Cabal during the Iran Contra era. His weekly column, "Behind the Scenes in the Beltway," is published weekly on Al Martin Raw.com, which also publishes a bimonthly newsletter called "Whistleblower Gazette."

Al Martin's new website Insider Intelligence: The Real Story Behind Tomorrow's Financial Headlines) (http://www.insiderintelligence.com) will provide a long term macro-view of world markets and how they are affected by backroom realpolitik.