Yes, and it wobbles on many different time scales all the way from the 26,000 year precession of the equinoxes, to day to day micro-shifts due to changes in the location of air masses and the effects of earthquakes. This is not a theory, but is quite easily measurable. The above illustration shows what you would observe if you were standing on the north geographic pole. These measurements are based on detailed astrometric studies carried out over several decades, and show the pole wandering by up to 25 feet or more.
Copyright 1997 Dr. Sten Odenwald
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