Let's visit Revelation 17:7-13 again:

How can something "used to be" ("was" in verse 8), currently is not (when John was writing), but shall be in the future (verse 11)? This is the key to understanding the future antichrist power.

If you carefully read these verses, you will notice that of the seven kingdoms (Egypt, Assyria, Babylon, Medo-Persia, Greece, Roman and Revived Roman), when John was writing the book and receiving the vision, five of those had fallen (the first five), one of them "is" (Roman), and the other was not yet come (Revived Roman), and who would be around for a short space. Then the angel explains: "the beast that was, and is not, even he is the eighth, and is of the SEVEN, and goeth into perdition." The only beast that, at John's time, was in the past, and wasn't currently around, was Babylon. The city simply deteriorated over time, along with the empire. Egypt, Syria, Greece, Persia, Rome, were all still around in some form...Babylon wasn't. Therefore, it will be the beast that was, is not, and will ascend.

It is of the seven, not of the "seventh". Many prophecy teachers like to add that "th" onto the end of the word "seven", but it isn't there, and it makes a BIG difference. Many translations of that verse say he is "one of the seven". Well, if he is one of the seven, and the revived Roman empire is around when he arises, then he must be one of the previous 5 empires. Based on numerous clues in scripture, it will be a revived Babylonian empire of Lebanon, Syria, Iran and Iraq, so declared by the antichrist. No question in my mind, especially with what we currently see in these four countries regarding Palestians and Islam.

Here are a few different translations of that verse:

Note those verses say he is "one of" the seven, not "of the seventh" as many prophecy teachers state. The whole conspiracy that the antichrist will be a Jew that arises out of the European Union "10 toed kingdom" has been preached for so many years that most people believe it, yet it is not what scripture says.

INTERESTING CLUE: Revelation 13:2 says the body of the beast was like a leopard, with feet of a bear, mouth of a lion:

If we read Daniel chapter 7, we find that a leopard was the Grecian empire, the bear was the Persian empire, and the lion was the Babylonian empire. All three ruled from the ancient land territory of Babylon. If we take the symbols of Revelation 13:2 literally, the final eighth empire that will rule the world for 42 months could be a combination of the former Grecian, Persian and Babylonian empires, uniting of Iran, Iraq, Syria, Lebanon, and possibly Turkey and Greece. This is Israel's greatest military fear.

Revelation 13:3 says that one of the heads of the beast was wounded and healed:

Notice this says "one of his heads", and we have already established that the seven heads of the beast are the seven chief demonic spirits of Satan's kingdom representing the seven past world empires. Will the physical man antichrist have seven heads on his body? Many people have been taught, and believe, that the antichrist will get shot or stabbed, and suffer some sort of head wound, and that the false prophet will heal him. This is not what the scripture says. Since this verse says "one of his heads", and we assume the antichrist doesn't have more than one physical head, this MUST be referring to A kingdom. However, there is other scriptural evidence that suggests the antichrist will suffer some sort of physical wound, because the idea is stated four times in the chapter:

In verse 14, the word sword may or may not be another symbol in a chapter full of symbolism (beasts, horns, crowns, dragon, the sea, leopard, bear, lion, lamb). It could be that a sword is a symbol of a battle or war that the beast loses, or it could be a physical wound...it is hard to tell.

Regardless of whether the wound by the sword is a war or an actual physical wound, it will cause the world to be amazed that the antichrist is able to survive it. Revelation 13:3 says all the world wondered after the beast...this could be because Babylon will arise from the dead (Revelation 17:11). The wound may refer to a battle that the beast loses, yet the Babylonian empire will arise out of the ashes of that war. The following is a list of events that could happen leading up to this:

1. The final 42 months, the final 8th empire will rule (Revelation chapters 13-19)
2. The 7th empire is a global government empire, led by the United Nations and Rome, and the common market nations of Europe (Daniel chapters 7,8,11; Revelation 17)
3. A man will arise in the middle east that will cause war. He will take over Libya, Ethopia and Egypt (Daniel 11).
4. He will move his headquarters to Jerusalem the final 42 months of the tribulation, but the first 42 months, he will rule from the ancient territory of Babylon (Daniel 9, II Thess 2, Matthew 24).
5. When the war Ezekiel 38 and 39 take place, the kings of the north will come against Israel, and Israel will defeat those nations.
6. One of those nations is Iran, which is already building up weapons against Israel, and Israel will retaliate against them and destroy them.
7. As a result of that war, the Shiite Muslims will need a new headquarters, since their capital in Iran is gone. The only place they could take is Babylon in Iraq. Back in the beginning of Islam, the Shiite Muslims split with Ali and Fatima to make their headquarters in Damascus, then later moved to Baghdad. Damascus won't be an option, because Isaiah prophesied it will be destroyed. Baghdad will be the only choice they have left, and they will probably rename the territory Babylon, and the old Babylonian empire will essentially be reformed.
8. The spirit of Babylon will be released in the tribulation from the pit (Revelation 9), and the spirits will possess a large army in Revelation 9. That is why the prophecy says who is able to make war with him?
9. Sadam Hussein wants to reform the Islamic crescent along the Euphrates river, which is where the prophecies take place. The antichrist will take power in ancient Babylonia, then after having his headquarters in Baghdad the first 42 months, something will make him move to Jerusalem for the final 42 months. This will probably be a dispute over the temple mount and a Palestinian state being established. Daniel said he will set up his tabernacle in the midst of the glorious holy mountain.