Politics & Governance / International Politics / Colonialism & Decolonization

Colonial Debts: How Wall Street Turned Puerto Rico Into a $123 Billion Experiment

Colonial Debts: The Case of Puerto Rico

Rocío Zambrana

When we think of debt, we usually think of a simple loan. But Rocío Zambrana's book *Colonial Debts: The Case of Puerto Rico* reveals something far darker. She argues that in places like Puerto Rico, debt isn't just a financial tool—it's a weapon of modern colonization. This video breaks down how a $123 billion debt crisis—the largest municipal bankruptcy in U.S. history—was engineered to capture an entire population's future, time, and land. We explore the hidden mechanics of austerity, the role of the unelected fiscal control board (La Junta), and how the system targets the most vulnerable: women, Black communities, and the poor. But this isn't just a story of oppression. It's also a story of resistance: from feminist strikes that shut down banks, to community land trusts that defy Wall Street, to queer dance protests on cathedral steps. Zambrana’s analysis shows that debt is a ruling machine—and understanding it is the first step to dismantling it. If you've ever wondered why some places can never seem to escape poverty, this video will change how you see the global economy.