This is something that was always curious to me. I'm not really familiar with in-depth history of Spain, but from what I know Spain was super rich and powerful during the colonial times, had one of the greatest navies and conquered half of the New World. How come Spain lost its significance and influence at some point (I presume it was after they lost their colonies), but after the collapse of the British Empire UK still remained influential and powerful.
Also, from what I recall Spain did not participate in many European wars. Where all the Spanish gold and navy disappeared and when?