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A few years ago the American Empire was in peril of total economic collapse because their banks had successfully defrauded the citizenry and then took their taxes to avoid their and the country's bankruptcy. That is what their spokespeople and media propagandized. And yet, the mighty empires of Persia, Egypt, Greece, Rome, China, India, did not have banks, as we understand the term. History belies what the media propagandized about them being too big to fail. But then, what are banks? What is a 'central bank', what does it do? Is the world bank really a bank? And, as it turns out, the far more important question is, 'What is debt?' [I suggest that Economics Debunked be taken before or concurrently with Banks Skanks.]