A Magnetic Field 100,000 times that of Earth

At Time magazine online I was sort of horrified to see the following description below:

begin quote from Time online in regard to the Magnet core of The Large Particle Collider:

THE MAGNET CORE
Winding the solenoid coil of the CMS took five years to complete. When it is fully operational, it will generate a magnetic field 100,000 times stronger than the one produced by the Earth. end quote.

Now, I don't know what you have studied or believe but if someone tells me that they are going to generate a magnetic field 100,000 times stronger than the earth itself my thoughts are: "Are you completely insane?" The reason I would say this is that it is possible that all electricity on earth is based upon the magnetosphere of earth. If my hypothesis is true, generating a magnetic field 100,000 times that of earth for any length of time would be suicidal for all life on earth. No one knows what will happen if someone turns on a magnetic field 100,000 times that of earth for any length of time.

What will that do to earth's magnetosphere?
What will that do to all life on earth long term?
What will that do to electricity on earth?
What will that do to the DNA of all life on Earth?

The real problem is: NO ONE KNOWS!

Just like no one knew when we built the first A-bomb whether the atomic fission would ever stop. Back then no one knew that either. Luckily it stopped. However, it was just as likely back then during the Manhattan project that when a nuclear blast went off the whole solar system or just earth would be gone too.

Are we willing to once again take that kind of risk. We were at war then. What is the imperative now?

Maybe it's a good thing that the Large Hadron Particle Collider broke down after running only 10 days last fall. Maybe someone found out what would happen?