00:00privatize water, electricity, transport, and natural resources.
00:05Suddenly, the debt is no longer just financial.
00:08It becomes political.
00:09A country may still have a flag, a president, a parliament.
00:14But if every major decision must satisfy creditors,
00:17then who really controls the country?
00:20This is the hidden power of debt.
00:22Old empires used soldiers, ships, and flags.
00:25Modern empires used contracts, loans, and repayment schedules.
00:30In the colonial age, powerful nations captured territory.
00:34They extracted gold, cotton, sugar, minerals, and labor.
00:39Today, the method can be quieter.
00:42A poor country needs infrastructure.
00:44A rich lender offers money.
00:46A highway is built.
00:48A port is expanded.
00:50A dam is constructed.
00:51But then the debt becomes too large.
00:53The interest becomes too heavy.
00:56The repayment becomes impossible.
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