Talk: Electromagnetic induction

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I'm in a debate with a friend, it's a dumb debate but it hinges on electrical inductions.

Scenerio:

You have a live telephone wire running from point a to b, if you were to take the speaker wire of a stereo, wrap it around the telephone wire a number of times would the resulting magnetic field created by the current running to the speaker effect the current in the telephone line in such a way that the audio would be transfered to the telephone line. Assuming you have enough power and coils to make an audiable sound.