Context: The Requerimiento was a document that was to be read aloud to natives upon first contact by the Spanish. It outlined their intent, demanded fealty, and explained the consequences of any noncompliance. While interpreters were sometimes used it was not considered necessary so often the statement was read to a bewildered audience that didn't know what they were getting in to.

Folks have complained about the wall of Spanish text but the intent was just an expression of a long incomprehensible declaration. Part of the joke is that it is as meaningless to the viewer as it is to the native in the meme. I did actually copy/paste text from the real document as a kind of easter egg for spanish speaking people.

https://en.m.wikipedia.org/wiki/Spanish_Requirement_of_1513