by Simon Black
At the turn of the 20th century, the United States had recently become the largest economy in the world… and it was showing.
The US had just vanquished Spain in the Spanish-American War, resulting in a vast new American colonial empire, stretching from the Philippines to Puerto Rico.
And it was just the beginning of American dominance overseas.
A few years later in 1903, JP Morgan (as in, the founder of the mega-bank that bears his name) engineered a coup in Central America that ended up creating a new republic in the region: Panama.
And almost immediately, JP Morgan and his colleagues got to work developing a canal that would run right through Panama.