The said that the iron is too hot to have the permanent magnetism scenario. But who knows?
Nobody, for sure. But there is more and more evidence that suggests that nothing is spinning inside the earth. it all rotates in one big mass, with slippage occasionally occurring on looser material deeper in the earth where pressure tapers off.
There is enough heat deep within the outer layer to destroy any magnetism. so it has to be created within the cooler part of the crust somehow.
For all we know the outer crust could have became magnetized long ago by a giant cosmic electrical storm passing through the solar system, and now that magfnitizm is slowly wearing off.
I Guess we are due for another cosmic electrical storm soon.
Maybe that will happen at the end of the world God was talking about. :o)