Observations show that geomagnetic field lines follow closely the atmospheric circulation patterns and that geomagnetic field variations are precursors to climate change . The exact mechanism for the observed close relationship between global geomagnetic field and the tropospheric weather patterns is not clear. In this paper a universal theory of atmospheric eddy dynamics is presented which shows that the global geomagnetic field, atmospheric electric field and weather systems are manifestations of a semi permanent scale invariant hierarchical atmospheric eddy continuum. Quantitative equations are derived to show that the full continuum of atmospheric eddies exist as a unified whole and originate from buoyant energy supply from frictional turbulence at the planetary surface . Large eddy growth occurs from turbulence scale by the universal period doubling route to chaos . The turbulent eddies are carried upwards on the large eddy envelopes and vertical mixing occurs by the turbulent eddy fluctuations resulting in downward transport of negative space charges from higher levels and simultaneous upward transport of positive space charges from surface levels. The eddy circulations therefore generate a large-scale vertical aerosol current, which is of the correct sign and magnitude to generate the horizontal component of the geomagnetic field. Therefore, atmospheric circulation patterns leave signature on the geomagnetic field lines whose global variations can be easily monitored by satellite borne sensors and thus assist in weather and climate prediction.