WI: Spanish Filibusters in Latin America

Filibustering was a sort of practice a person engaging in unauthorized warfare against a foreign country. it was used by mostly US Citizens to try to take over Latin America.

But what if the USA wasn't the only one to try this practice? What if people from another country, who used to control nearly all of Latin America?

What if a few Spanish Citizens becomes filibusters? These "New Conquistadors" or "Reconquistadors" buy arms, hire soldiers and mercenaries, and go on expeditions to overthrow Latin American governments, and declare intentions of annexation from Spain, to reestablish the Spanish Empire in the Americas.

Questions for this what if:
Where would these Spanish Filibusters be successful?
What Latin American governments could be successfully overthrown?
Would Spain every accept the invitations to annex Latin American countries?
How would the USA, and Britain react to these Spanish Filibusters? Would they intervene?
 
Spaniards don't need to filibuster, they had overt support of the Spanish crown to fight open wars against a great number of Latin American nations. Check out Spanish history during the 19th century.
 
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