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If we suffer a magnetic reversal, and also survive it, provided it settles down and becomes stable, I can just re-set the compass to the new off set value and she’ll be right again.
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I remember hearing something about this a few years ago.
It would be interesting to see the affect it would have on electronic equipment. I know for a fact that everything using a CRT like TV's and old PC monitors would become useless overnight, unless they are sent off for service. Or we could swap TV's with the people in the northern hemi ;D