Twice in thirty years, the Isthmus of Panama destroyed those who reached for it. In 1671 the buccaneer Henry Morgan marched a starving army across the jungle and burned Panama City to ash. A generation later, Scotland bet a fifth of its entire wealth on a colony in the Darién — and roughly two thousand settlers died of fever. How did a pirate and an investment scheme both break themselves against this thin strip of land, and reshape two empires doing it? Episode 4 of Crossroads of Empires is a measured account of two catastrophes: Morgan's sack of Panamá Viejo (and the still-disputed question of who set the fire, and whether he knew a peace treaty had just been signed), the rebuilding behind the walls of Casco Viejo, the slow death of the Portobelo silver fairs, and the Darien Scheme of 1698–1700 — Scotland's doomed "New Caledonia," whose collapse helped push the nation into the 1707 Act of Union that created Great Britain. Death tolls and capital figures are presented as the contested estimates they are. Watch on YouTube: https://youtu.be/9lbRdUBYQEc