Nope. This is a real theory. that's why there is a TRUE north and MAGNTEIC north. It's called the Angle of Declination, and it most DEFINATELY changes.
From :
http://science.nasa.gov/headlines/y2003/29dec_magneticfield.htm
"Scientists have long known that the magnetic pole moves. James Ross located the pole for the first time in 1831 after an exhausting arctic journey during which his ship got stuck in the ice for four years. No one returned until the next century. In 1904, Roald Amundsen found the pole again and discovered that it had moved--at least 50 km since the days of Ross.
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The pole kept going during the 20th century, north at an average speed of 10 km per year, lately accelerating "to 40 km per year," says Newitt. At this rate it will exit North America and reach Siberia in a few decades.
Keeping track of the north magnetic pole is Newitt's job. "We usually go out and check its location once every few years," he says. "We'll have to make more trips now that it is moving so quickly."
Earth's magnetic field is changing in other ways, too: Compass needles in Africa, for instance, are drifting about 1 degree per decade. And globally the magnetic field has weakened 10% since the 19th century. When this was mentioned by researchers at a recent meeting of the American Geophysical Union, many newspapers carried the story. A typical headline: "Is Earth's magnetic field collapsing?"
Probably not. As remarkable as these changes sound, "they're mild compared to what Earth's magnetic field has done in the past," says University of California professor Gary Glatzmaier.
Sometimes the field completely flips. The north and the south poles swap places. Such reversals, recorded in the magnetism of ancient rocks, are unpredictable. They come at irregular intervals averaging about 300,000 years; the last one was 780,000 years ago. Are we overdue for another? No one knows. "
The magnetic pole is shifting all the time. For my location, in Oregon it is : Declination = 17° 7' E changing by 0° 9' W/year. From the site :
http://www.ngdc.noaa.gov/seg/geomag/jsp/struts/calcDeclination The Field DOES flip. It will happen again. We just have no idea of when it will happen again.
It's called the Angle of Declination, and it most DEFINATELY changes. No BS. I have to adjust the declination on my compass, and the compass on my watch, every year. Eight years ago, it was W 19.8 degrees. Now it is W 16 degrees. Magnetic north is variable.