Recent reanalysis Apollo seismic data demonstrates the existence of a liquid core at the center of the Moon. Currently, the outermost layer is only partially molten; but in the past it must have been hotter and fully liquid. We also know that Moon originally formed much closer to the Earth than it is now, and that the Moon originally must have been rotating much faster than it does currently.
If we look at the Earth-Moon system "teleologically" as a single entity that "wants" to find a lowest energy configuration as fast as possible, it occurs to me that the combination of fast rotation with fully molten outer core provide the right conditions for a Lunar dynamo to result.
Thus, the theory is that the Moon's magnetic field must have acted "agnonistically" against the Earth's magnetic field, and that the resultant interaction caused the rotation of the Moon to slow down to the point where gravitational, tidal forces could easily "lock" the Moon into its current configuration where one side always faces Planet Earth. We ordinarily think of the the process of tidal locking as one that must have happened very gradually taking millions of years. However, the ElectroMagnetical Braking (EMB) hypothesis would cause this to happen much sooner than previously believed.
Once the Moon became tidally locked, the kinetic energy required to drive Coriolis circulation of the Lunar outer core would go away, shutting down the Lunar dynamo. Thus a prediction of the EMB theory is that old Lunar rocks should have a relatively strong residual magnetism, and that later rocks should have little to no residual magnetism, and that the age transition between the two forms should be rather sudden. Indeed, this age transition could provide a means for dating when the Moon became tidally locked!
Also, because of conservation of momentum, rapid braking of the Moon's rotation would have caused the Moon to "spin out" to its present orbital radius much sooner than previously believed.
Presumably, the braking would have had an equal and opposite effect on the Earth as well, causing it slow down it's rotation faster than previously believed.
The way it would work is that north-south columns of molten iron in the Moon would have effectively constituted a "wire" that when moved through the Earth's electromagnetic field, would have generated current. When such a system is "fed" electricity, the system functions as motor; when, as in the current case, the system is fed mechanical energy, the system functions as a generator. Since there is no means to keep feeding the system fresh mechanical energy, then the system would run down eventually. Basically, it would work a lot like the dynamic braking systems employed in electromotive railroad locomotives.
Of the wider implications of the EMB model, I am not sure whether it would tend to support the Darwinian fission hypothesis of Lunar formation rather than the Velikovskyian collision hypothesis or not, or whether it would make any difference at all. The problem with the collisional theory is that it is difficult to square with the supposed primordial angular momentum of the Earth-Moon system. So actually, now that I think about it, though I had formerly favored the fission theory powered by georeactors, I think I'm going to have to reverse gears at this point and go with Velikovsky: the EMB provides the missing braking mechanism that can square the current angular momentum of the Earth-Moon system with the probable primordial angular momentum.
Again, thinking teleologically, if the Moon is like the dynamic braking system of a modern train, then we should expect that much of the electrical energy produced as the Moon traveled through the Earth's magnetic field to be dissipated as heat. (This is probably the explanation for the giant Lunar eruptions that caused the Lunar maria to form on the near side.) Basically, the rotational kinetic energy of the Earth-Moon system is converted into electrical energy, that is in turn pumped through impure iron alloys that act as resistors, and that in turn produce heat energy, causing magma to form, the heat energy of which is eventually radiated out into space.
In other words, the angular momentum of the Earth-Moon system has not been perfectly conserved over the ages; thus, the Earth-Moon system must have had a much higher angular momentum in its past than would be expected from a simple extrapolation back in time of the current angular momentum. But this is a good thing, because the current best computer models of the collision event have to have Earth rotating in retrograde fashion--and how the heck is that supposed to happen, especially that early in the history of the Solar System!
Bottom Line: Because of the consilience that the EMB brings to the different strands of Lunar history and theory, it's just too good to be false.