We used to have kings. The oligarchs found it is physically much safer to control from outside the limelight.

We used to have slaves. The oligarchs found it is cheaper to rent wage slaves they can discard and replace than to own outright.

We used to invade other countries; take them over and rename them. The oligarchs found it is better to buy off or threaten the locals and control them while leaving them nominally “free” countries.

Venezuela is in the process of being made “free” because the locals stubbornly refuse to be bought off or threatened.