Magnetic moments, for the (essentially all) particles that have them are aligned parallel to the spin axis, as there isn't any other axis in the problem, but th

Magnetic moments, for the (essentially all) particles that have them are aligned parallel to the spin axis, as there isn't any other axis in the problem, but that doesn't mean that there is a direct link between magnetism and spin. One example: Neutrinos have just as much spin as electrons, but they have not yet been observed to have magnetic moments. It is true that most magnets get some, if not all, of their magnetism from polarized electrons. We often state that the magnetism comes from "spins", as it is an effective shorthand, but it is not strictly correct. Some magnets get substantial amounts of magnetization from orbital magnetic moments of electrons (SmCo_5, for example). Furthermore, one can create a magnetic field simply by moving an electric charge. From that perspective, a magnetic field is consequence of combining special-relativity with electrostatics. We know a lot, but there is so much more left to learn.