Edward Leedskalnin's Perpetual Motion Holder

Edward Leedskalnin's Perpetual Motion Holder is of great interest to us. Its geometry and operation is very similar to what we are looking at currently. Below is my replication of Edward Leedskalnin's Perpetual Motion Holder. Edward Leedskalnin left behind a bit of a mystery, a comment of interest is: "I made more electricity with steel, than I ever made with copper". Why would he make this comment? What's the idea Behind it?

Edward Leedskalnin's book Magnetic Current can be viewed: Click Here