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While the 19th-century guano trade is often studied as a key example of ecological imperialism and the metabolic rift, the continued extraction and degradation of Peru’s guano ecosystems throughout the 20th century and today has received little attention. This article contends that the near depletion of Peru’s guano reserves represents a terminal stage of the metabolic rift, illustrating how capitalism can irreversibly destroy the ecological conditions necessary for its own survival. Using a mixed-methods approach, including in-depth interviews, a focus group with key guano stakeholders, and a longitudinal analysis of ecological and production data, we document an unprecedented decline in seabird populations and guano production, exceeding anything seen during the 19th-century guano boom. Unlike that historical collapse, today’s decline is not primarily caused by extraction itself, but by a combination of external pressures: overfishing, increasingly severe El Niño events, avian flu, introduced species, and human disturbance, despite significant conservation efforts and attempts to establish a sustainable guano industry. This reversal represents a new, potentially terminal form of the metabolic rift. Furthermore, it is not accidental but embedded within global market systems that prioritize profit over ecological sustainability. Our findings demonstrate how this socioeconomic system undermines the ecosystems it relies on, producing rifts that may become permanent and irreparable to resolve within its own framework.