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Yom HaKippurim Table Topics

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Yom HaKippurim: A Day of Repentance or Atonement?

In the time of the Beit HaMikdash, one of the eagerly anticipated rites of Yom HaKippurim was the dispatching of a sin-laden goat to Azazel.  Who or what, though, is Azazel, and why is it being sent a goat? 

•  What is the purpose of the entire ceremony? What role does it play in achieving atonement for sins, and how does it relate to the presumed need for the people to actually repent for their misdeeds?  Are the people really cleansed of their sins by simply transferring them to this goat and sending it away?
• The verses juxtapose the name Azazel with that of Hashem, suggesting that the word is a proper noun, referring to a specific supernatural being.  If so, though,is it not prohibited to offer sacrifices to anyone other than Hashem?  Moreover, does the Torah believe in the existence of demonic powers? And, why would we be dealing with them on Yom HaKippurim of all days?
• If Azazel is, instead, the name of a location, what about this offering uniquely allows it to be brought outside the confines of the Mikdash? Does this relate to the special nature of the day, or to the unique nature of the sin-laden offering?