Do magnets redshift light?
Suppose we have an extremely powerful magnet (say the size of the Sun) and we have a smaller paramagnetic material above it (say. Titanium Brick which is indestructible) . Due to magnetic attraction it will fall toward the big magnet.
Now suppose that when it hits the surface of the bigger magnet, the smaller paramagnetic material (Titanium Brick) is somehow converted into photons (light) equivalent to its mass using $E=mc^2$, plus its kinetic energy, $KE_1$. These photons are shot upwards via an perfect mirror perpendicular to the paramagnetic material above. When they reach the magnet's original position they are again converted into mass in the form of the titanium brick.
If this is repeated many times it seems we will gain free energy, since the iron brick gains kinetic energy when it falls, but light is not effected by magnetic fields. (Or am I wrong?) But this will breach the energy conservation laws in specific "Energy cannot be created nor destroyed".
Therefore I must conclude light is (or should be) redshifted (loses energy) as it travels through magnetic field. The problem arises when you take into consideration that light is not charged so it should not be effected by any magnetic fields but my intuition tells me light should still be affected so is my conclusion valid or not? Is light red shifted in presence of an magnetic field?
If light is not red shifted then what is lost to ensure the system is not gaining energy but in this experiment it does not make sense since we are using photons which are not effected by magnetic fields and then recreating the para magnetic material (like Iron brick we used) so we should not loose energy as we are simply recreating the same object again.