The cataclysmic pole shift hypothesis is the conjecture that there have been rapid shifts in the relative positions of the modern-day geographic locations of the poles and the axis of rotation of a planet. For the Earth, such a dynamic change could create calamities such as floods and tectonic events.[1] This type of event would occur if the physical poles had been or would be suddenly shifted with respect to the underlying surface over a geologically short time frame. This hypothesis is almost always discussed in the context of Earth, but other bodies in the Solar System may have experienced axial reorientation during their existences. Among the scientific community, there is no research that indicates a rapid change in the position of the rotational axis. There is evidence of precession and changes in axial tilt, but this change is on much longer time-scales and does not involve relative motion of the spin axis with respect to the planet. However, in what is known as true polar wander, the solid Earth can rotate with respect to a fixed spin axis. Research shows that during the last 200 million years a total true polar wander of some 30° has occurred, but that no super-rapid shifts in the Earth's pole were found during this period.[2] A characteristic rate of true polar wander is 1° per million years or less.[3] Between approximately 790 and 810 million years ago, when the supercontinent Rodinia existed, two geologically-rapid phases of true polar wander may have occurred. In each of these, the Earth rotated ~55°.[4]
http://en.wikipedia.org/wiki/Cataclysmic_pole_shift_hypothesis