Magnet therapy is not new. It has been in existence for hundreds of years now. In the ancient times the Greeks claimed the lodestone had healing properties while the Chinese have been using the magnet for healing for thousands of years. The third century A.D. saw Greek physicians treating arthritis with magnetized metal rings. They used pills made of magnetized amber to stop bleeding. In the Middle Ages, magnets were used to treat arthritis, gout, poisoning, baldness.