Creatures of the state, some were founded for war finance, which suited merchants’ desires for security of credit-debt creation over long distances too. This chapter shows Britain as ‘first industrialiser’ prompted states in Europe and Japan to found central banks (CBs) for industrialising aims (instead), indirectly redistributing to labour. Despite earlier inclusive debates in the USA, the 1913 Federal Reserve Act was exclusive like the (1694) Bank of England: founded to promote Wall St and US global dominance. The Dominions and other democracies resisted UK and US models. Australia’s early full capitalist-wage labour structure and savage bank boom-bust (1880s-90s), led to aims for ‘the People’s Bank’ to control private banks and foster full employment. A scandal to capitalism and monetarist histories. Dissonance (cognitive and emotional) in central banking first appeared in 1970 when democratic states and the finance sector turned against central bank dual remits for taxable full employment and price stability. As bank balance sheets show, CBs create money for banks and governments, thus, the stagnation imposed from the 1970s on central banks is illogical, uncivil and unwisely ignored deflation that currently afflicts the world.