My initial post was not intended as a flame, but to be blunt, you're still wrong.
There is no such force as inertia, inertia is a measure of a body's tendency to resist a change in it's motion, in simple cases this is just the bodies mass. Hence Newtons second law, force = mass * acceleration (simplified slightly but will do for this purpose).
The only consequential force on the moon is gravity. At any given moment, the moon is moving in a straight line tangential to the earth, if you turned off the earth's gravity it would carry on in that straight line, the earth's gravity pulls it enough to stop it from flying off, but due to it's rather large momentum, can not cause it to fall to the earth. If you;re interested, the appropriate rearrangement of Newton's second law in this case is, Force = mass * (velocity squared)/(radius of circle), velocity being it's tangential velocity and the force being the force towards the centre of the circle, if the force is too big it will move toward the centre of the circle, if it is too small it will move away.
The case being suggested of pulling metal objects with iron pulling to make them orbit around you would work if you made the pull force small enough, considering that you'd be using small enough objects so that pulling them wouldn't move you, the force you'd have to apply would be tiny, unless they were moving at insanely high speeds.