"Buddy Matlosz" wrote: (clip) Whack the skew on the edge of a bench or with
a wooden mallet.
^^^^^^^^^^^^
If that makes you feel better, do it. This subject has been previously
discussed at great length--some say the magnetism will disrupt your turning,
and others saying the opposite. I happen to think that the attraction of a
slightly magnetic tool for the toolpost doesn't matter.

I doubt whether a wooden mallet gives the steel a sharp enough blow to have
much effect. The accepted way to demagnetize a piece of steel is to place
it in an alternating magnetic field (60 hertz is most convenient), and then
remove it slowly with the power on. As the steel is witdrawn, the flux
within the steel reverses over and over again, converging on zero.

Where to find such a field? An auto-electric shop, or a motor rewinding
shop should have a "growler" that's used for testing armatures.