  The basic theory of torque free precession (TFP) of the outer crust of a
neutron star (NS) as the signature of the approach to NS breakup is a viable
explanation of the uniform properties of kHz Quasi-periodic Oscillations (QPO)
observed in X-rays emitted by Low Mass X-ray Binary (LMXB) sources. The theory
outlined in this paper relates the intrinsic properties of NS structure to the
observed kHz frequencies. The range of kHz frequencies and the observed quality
factors (Qs) are also explained by this simple dynamical model. A scenario that
begins with the melting of the inner crust of an LMXB NS creates the conditions
necessary for the generation of kHz QPO. The theory relates the ratio of the
observed kHz frequencies to the ratios of the components of the moments of
inertia of the NS, thereby tightly constraining the equation of state (EOS) of
NS matter (polytrope index ~1.0). The TFP model is in strong contrast to
existing models which primarily relate the kHz QPO phenomenon to the physics of
gas dynamics near the inner edge of the accretion disk and the transition flow
onto the surface of the NS. We suggest the possibility of the direct detection
of very low frequency (~1 kHz) radio waves from magnetic dipole radiation and
also predict kHz gravitational wave emission from the LMXB Sco X-1 that may be
detectable by LIGO. The high accretion rates consistent with the predicted GW
emission indicate the likely conversion of some LMXBs to maximally rotating
Kerr black holes (BH) and further suggest that these systems are progenitors of
some gamma-ray bursts (GRB).
