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I thought Mars lost water and have thin atmosphere because of loss of its magnetic field.

Mars owes its dry and dusty appearance to its wispy atmosphere, less than 1 percent of the thickness of the Earth's. But it wasn't always that way: The Red Planet formerly had a much thicker atmosphere that probably allowed for liquid water on the surface, an atmosphere that was depleted when the planet's magnetic field faded away.

http://www.popularmechanics.com/science/space/moon-mars/what...



We are not losing it, it is changing polarity ("flipping"). It may be reduced for a short time while the flip happens. It has happened many times before.




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