@Setanta,
Is the Earth's magnetic field reversing now? How do we know?
Measurements have been made of the Earth's magnetic field more or less continuously since about 1840. Some measurements even go back to the 1500s, for example at Greenwich in London. If we look at the trend in the strength of the magnetic field over this time (for example the so-called 'dipole moment' shown in the graph below) we can see a downward trend. Indeed projecting this forward in time would suggest zero dipole moment in about 1500-1600 years time. This is one reason why some people believe the field may be in the early stages of a reversal. We also know from studies of the magnetisation of minerals in ancient clay pots that the Earth's magnetic field was approximately twice as strong in Roman times as it is now.
Even so, the current strength of the magnetic field is as high as it has been in the last 50,000 years, even if it is nearly 800,000 years since the last reversal. Also, bearing in mind what we said about 'excursions' above, and knowing what we do about the properties of mathematical models of the magnetic field, it is far from clear we can easily extrapolate to 1500 years hence.
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How quickly do the poles 'flip'?
We have no complete record of the history of any reversal, so any claims we can make are mostly on the basis of mathematical models of the field behaviour and partly on limited evidence from rocks that retain an imprint of the ancient magnetic field present when they were formed. For example, the mathematical simulations seem to suggest that a full reversal may take about one to several thousand years to complete. This is fast by geological standards but slow on a human time scale.
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What happens during a reversal? What do we see at the Earth's surface?
As above, we have limited evidence from geological measurements about the patterns of change in the magnetic field during a reversal. We might expect to see, based on models of the field run on supercomputers, a far more complicated field pattern at the Earth's surface, with perhaps more than one North and South pole at any given time. We might also see the poles 'wandering' with time from their current positions towards and across the equator. The overall strength of the field, anywhere on the Earth, may be no more than a tenth of its strength now.
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Is there any danger to life?
Almost certainly not. The Earth's magnetic field is contained within a region of space, known as the magnetosphere, by the action of the solar wind. The magnetosphere deflects many, but not all, of the high-energy particles that flow from the Sun in the solar wind and from other sources in the galaxy. Sometimes the Sun is particularly active, for example when there are many sunspots, and it may send clouds of high-energy particles in the direction of the Earth. During such solar 'flares' and 'coronal mass ejections', astronauts in Earth orbit may need extra shelter to avoid higher doses of radiation. Therefore we know that the Earth's magnetic field offers only some, rather than complete, resistance to particle radiation from space. Indeed high-energy particles can actually be accelerated within the magnetosphere.
At the Earth's surface, the atmosphere acts as an extra blanket to stop all but the most energetic of the solar and galactic radiation. In the absence of a magnetic field, the atmosphere would still stop most of the radiation. Indeed the atmosphere shields us from high-energy radiation as effectively as a concrete layer some 13 feet thick.
Human beings have been on the Earth for a number of million years, during which there have been many reversals, and there is no obvious correlation between human development and reversals. Similarly, reversal patterns do not match patterns in species extinction during geological history.
Some animals, such as pigeons and whales, may use the Earth's magnetic field for direction finding. Assuming that a reversal takes a number of thousand years, that is, over many generations of each species, each animal may well adapt to the changing magnetic environment, or develop different methods of navigation.
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I'm interested in a more technical description.