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Will a precessing spinning whell fall down if there is no friction at all?

If there where no friction at all, would a spinning wheel held up by one end of the axis spin precess forever without falling down? I just asked another question about the same problem: Direction ...
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Direction of torque precession of a spinning wheel

Consider a spinning wheel, which is held up by one end of it's axis like this: To explain why the change of angular momentum is directed as shown in the figure above, one usually says that there is ...