Over half of the world’s population is slated to hold national elections in 2024. Is this significant? As we see it, this contributes to the growing fluidity of geopolitical change in our times. Prophecy students know that the “10 kings” will emerge rapidly and suddenly. Revelation 17:12 says, “The ten horns you saw are ten kings who have not yet received a kingdom, but who for one hour will receive authority as kings along with the beast.” We would say that this requires fluidity. Democratic nations can contribute to this condition.

Malleable and Fluid Democracy

Democracy … whether weak, strong, or flawed … is practiced by some 60% of the world’s population (less than 10% is fully democratic). Democracy is hailed and defended by most as the best political system on earth. Supposedly, people’s rights are upheld, and checks and balances of the rule of the majority prevail. Is this system virtuous? No. Democracy, assuredly a human system with many good facilities, still harbors the fatal flaw that will enable a spiritually blind world to willingly allow the Antichrist to come to power.

What many may not realize is that democracy itself is only a system. Its benefits and good are entirely reliant upon the hearts of its people and not the system. If most people are godless or larcenous, for example, democracy will be corrupt and godless. It will be shifty … vulnerable to major changes.

Already, year-to-date in 2024, there have been some surprising upsets and shifts among larger nations. Narendra Modi, President of India—with the largest population in the world—surprised the consensus with a very weak showing in India’s election in June. Financial markets shuddered and sold off deeply in the ensuing panic. French President Emmanuel Macron suffered a rebuke at the polls, triggering major changes in its fiscal policies. Elsewhere there have been a number of “hard right” shifts … as well as others swinging to the left.

Crucially, these shifts also contribute to an environment of geopolitical fragmentation. Many countries are becoming more concerned with their own affairs rather than global cooperation. This is fertile ground for the emergence of the 10 kings. While elections in 2025 may not be as numerous as in 2024, it would not be surprising to see fluidity of change continuing to increase. After all, many endtime developments are marked by sudden and rapid change.

Women in Political Roles

What role will women play as heads of state in the future? Indeed, there have been some very well-known and respected female presidents since the interwar period (1918–1939). Consider Indira Gandhi (India), Golda Meir (Israel), Margaret Thatcher (Britain), Eva Peron (Argentina), and others.

At no time, however, could it be said that there were many heads of state that were women. In recent decades, however, this has somewhat changed. According to the UN, as of mid-2024, there were 24 female heads of state in the world. Over the years, less than one-third of United Nations member states have ever had a woman leader.

Very recently, another woman moved onto this list. Claudia Sheinbaum Pardo was elected to become President of Mexico. She is the first female head of state for Mexico.

Could this also happen north of its border, now that Kamala Harris has been confirmed as the presidential nominee of the Democratic party? If so, this could be of great significance from a Biblical perspective. America has never before had a female president.

Where do we find the Biblical link to this question?

The Bible says that 10 kings will converge in the last days, just before or near the appearance of the Antichrist. We must make an obvious statement: These ten kings must all be males. Of the 2,481 mentions of the word “king” (singular) in the Bible, all refer to males.

The clear takeaway here is that any country with a female head of state cannot, therefore, be one of the last-day 10 kings. The equivalent in our time is heads of state. As such, any country with a head of state that is female will not be a member of the 10-king coalition. Why will this restriction of women be the case? We do not know.

Were Kamala Harris to become the next president, the US could not be a candidate for membership in the 10K group on these grounds alone. Is this good or bad? It depends. In one sense, it would be better for a country not to be a member of the 10 kings. They would, therefore, not be required to support the Antichrist.

Globalism on the Ropes

As mentioned, the long-running trend of globalism is beginning to fade in our time. For the time being, the US is still the most powerful nation in the world. It represents a very big toe … so big, in fact, that it can still render any other coalition of 10 kings ineffective. As such, we recognize that a resizing of the relative powers of 10 major nations must yet happen before the prophesied time of the 10 kings will occur.

Will America fit into the shoe, or not at all? Are we now seeing these necessary changes beginning to unfold … the big toe stubbed?

Since Bible prophecy clearly outlines that there will be a 10-nation power coalition, not a foot with one big toe, we can conclude that this big toe must then become comparatively smaller. While the British Empire has been removed from the pinnacle of power for more than half a century, its younger cousin (the US) now undoubtedly also faces a relative decline. By whatever means—the Rapture, self-inflicted, deserved or divinely willed—this has to happen if the Bible is to be proved correct. In fact, viewed against the pace of human history, it must be said that this shift with respect to America is happening quickly (even so without a Rapture).

For the last three centuries, there has only been one big toe in existence at any given time. But this cannot continue if prophecy is to be fulfilled. This change is very likely already underfoot. The rise of other nations such as China, India, Brazil, Russia, and others could be seen as part of this rebalancing process.

Surely, the facts outlined to this point will not be regarded as being very hopeful. But that could be a wrong perception. It is never too late for a nation to repent. God said to Israel, “[…] if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land” (2 Chronicles 7:14).

Repentance is an option … provided that it is not past the point of return, where God refuses to listen. But we must not make the mistake of Jonah. He was upset with God when the citizens of Nineveh chose to heed his message of judgment. As a result, Nineveh’s demise was delayed for another 150 years or so.

Our Lord, for the most part, allows us the freedom to choose to follow His precepts and ways voluntarily. Yes, God foreknows what our choices will be, but that is not the same as predestinating our willful actions.

Yet, according to Bible prophecy, America must decline relative to the 10 kings in one way or another. But that is not to say that it is prophetically necessary for America to rush to accelerate the fulfillment of prophecy by collapsing into a toothless tiger. Prophecy, in this case, can be fulfilled in a number of ways. Ten other kings could become powerful enough to supersede the geopolitical position of the US, or at the other extreme, America be disastrously downsized … either becoming one of the 10 kings or not at all. Which will it be?

The jury is out. It is up to the nations’ leaders and citizens. However, to date, the signs are not hopeful. In recent times, Christian candidates have been openly ridiculed, and topics such as the “end of days” are fodder for public scoffing. Greater shifts to immorality and rebelliousness may now lie ahead.

Any person who can deliver such policies will be thankfully accepted as a type of savior. Morality and godliness can wait.

Religion and Politics

Personal religion is a topic that rarely surfaces on Wall Street. Very few economists discuss the impact of religion upon GDP … or political economy. This is quite an oversight. Why? Because every human being harbors metaphysical ideas and impulses of some type … at some level or other. Religion matters. A middle-aged Hindu, for example, will have a different demand or hierarchy preference than, say, a Millennial living in Manhattan.

There are quite a number of countries, political parties, and terrorist groups that are, in fact, organizationally or constitutionally religious (consider Pakistan or India’s Hindu nationalist Bharatiya Janata Party). This drives human behavior. Most certainly, religion frames agendas and policies and can have enormous impact and influence on politics.

India’s President Modi is seeking to impose the Hindutva ideology of supremacist Hinduism on India’s estimated 204 million Muslims. This is an attempt to mix oil with water, it seems. Suffice it to say that religion has a big impact on geopolitics.

Though Wall Street remains largely silent on such developments, ignoring religious activism would not be wise. Actions born of religious beliefs are ongoing.

Consider this year’s elections in Turkey. President Erdogan continues his slow and steady re-Islamization of Turkey. (Atatürk would not have been pleased.) Erdogan says he wants to create pious Turks with the Koran in one hand and a laptop in the other. Efforts to achieve this are in process with the Imam Hatip schooling system (now making up 11 percent of the total upper school population). The funding is double the amount spent per pupil at mainstream schools.

Otherwise, all over the world, right-wing politicians are turning to religion to boost their appeal. There is no end to further examples of political cohabitation with religion that could be listed.

Thoughts to Ponder

Religion will play a heightened role in volatile geopolitical times. Extreme election swings may soon be commonplace. Democracy must remain dominant to facilitate political changes. “Minilateralism” is spreading quickly. All of these factors contribute to a high state of geopolitical fluidity. This lays the foundation for the rapid events that will usher in the 10 kings. Crucially, this, in turn, alerts “those with eyes to see” that the Rapture and our redemption are nigh.

***

Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Do you have questions or other perspectives? You can contact Wilfred at: staff@eternalvalue.com. Please note that for reasons of volume and investment securities regulation, he cannot give financial advice.

It will be obvious to most that the world faces tumultuous times. Major developments are coming into focus … visible for those who have “eyes to see.” Ezekiel 12:2 is still pertinent to our time. “Son of man, you are living among a rebellious people. They have eyes to see but do not see and ears to hear but do not hear, for they are a rebellious people.”

Study of Bible prophecy can provide contemporary insights, we believe. Yet most people, unfortunately, will have little idea of the “toxic brew” that is being concocted for just this time … and near future. We are now living in that last sliver of time just before the regime represented by the 7^th head (Revelation 17) bursts onto the scene.

This is the time of the 10 kings. In terms of political economy, we have dubbed this era as leading to minilateralism. What is this? It is the geopolitical fragmentation of international relationships, which we believe will eventually pave the way for the emergence of the 10 kings (10K).

Minilateralism represents the next stage following globalism (a phase which is now stagnating). Conditions for this occurrence are rapidly falling into place. We briefly explain how the minilateral system unfolded.

During much of the 20^th century, global affairs were mainly shaped by a bipolar international system. Superpowers dominated. Then, as of the 1990s, geopolitical affairs moved toward a unipolar course, where the United States had the role of a sole global leader.

For a number of reasons, this pushed the expansion of minilateralism, where smaller groups of countries could pursue their interests with other like-minded nations without being limited by different values or the interference of the United States. Minilateralist initiatives were more agile and adaptable.

Not infrequently overlooked is the fact that the 10K coalition takes shape before the Antichrist makes his appearance. As such, focusing on the 10 Kings is likely to be more germane for our time than looking for the identity of the Antichrist. As it is, we are to be looking for our Redeemer … not the Antichrist. In any case, the 10 kings are likely to emerge first.

Of great interest is the fact that we are living and experiencing these prophecies today. We live during the period that the Bible shows as being under the lineage of Rome. How do we know?

We will attempt to provide an explanation that will not confuse the reader. It is a difficult topic, as we must also consider all the kings mentioned in Revelation 17 … not just the 10K. In total, there are 18 kings mentioned.

A key to understanding this chapter is to keep apart two groups of kings: First, there are 7 kings that are shown as heads on the beast in Revelation 17. These we have dubbed the Ruler Kings (RK). They hold power (rulership) consecutively, and then at the end, are followed by an 8^th king (also a ruler king).

The second group of sovereigns mentioned in Revelation 17 are 10 kings that are shown as horns. All 10 of these horns reside on the 7^th head. We have called this group the 10K.

Now we come back to our identification of Roman lineage applying to the last three Ruler Kings—the 6^th and 7^th head, the 8^th king (which is of the seven Ruler Kings). As the 10 kings (10K) are on the seventh head, they are also of Roman lineage.

To re-emphasize, there are actually 3 stages of Ruler Kings in the Roman period. The Bible outlines 3 final Roman-related Ruler King regimes that take place consecutively—first, the 6^th head [who is now] on the beast shown in Revelation 17 (and also several other depictions). Second, the 7^th head follows the 6^th, which itself is comprised of a coalition of 10 kings that are shown as 10 horns. This latter group then gives rise to an 8^th king mentioned in Revelation 17:11, as he belongs to the 7 kings shown as 7 heads, who is the Antichrist.

This last sequence is plainly revealed in Daniel 7:8: “[…] there before me was another horn, a little one, which came up among them [10 kings].” Hopefully, the reader will find these explanations helpful.

We return to the topic of the 10 kings. Why? As has been mentioned, this topic likely is very timely. The 10 kings will emerge very soon. Indeed, some may already be on the scene! A frequent question on this topic that has challenged Bible prophecy readers is this: What are the identities of the 10 kings? Just which countries will together form a 10-country coalition? All kinds of answers have been offered over the centuries, but virtually all of them have been wrong. As most always is the case, the identification of the kings focuses on current and recent history.

We have published much research on this topic over the years. Our conclusion has been that it is possible to exclude nations that are not qualified to become members of this coalition. But it is not possible to confirm the identity of any one country being a member of the 10K—candidates, yes, but not certifiably so. As such, there is much speculation and wrong teaching on this matter.

Yet, the Bible is very clear about the existence and nature of this rebellious group. The 10 kings—10 nations that are led by human beings (not demons)—are heads of state for 10 different countries.

As a short summary, we would not be surprised to see that most if not all of these 10 members end up coming from Roman Offshoot countries. But which exactly? We cannot know. However, this writer does believe that some of the birth pangs of this coalition can already be discerned today.

Of course, a related question of great interest is whether the United States will be one of these 10 kings (10K). We have always concluded that this indeed will not be the case … presuming, of course, that some truly cataclysmic event doesn’t happen first.

The main reason the US does not qualify as a 10-king (10K) nation is that it is too large. After all, presently it is a single superpower that doesn’t need to be part of a global coalition. In fact, if anything, it could be very plausible that part of the reason that a 10-king coalition emerges is precisely that: There exists a large superpower that dictates or hinders or doesn’t comply with the wishes of the rest of the world. The 10K may, therefore, be a collaboration designed to circumvent the US geopolitically. There are other possible reasons as well. However, we do see that the “minilateralism” trend experienced today (as mentioned earlier) is the best fitting explanation.

The most compelling proof that the US will not be a member of the 10-king coalition comprising the 7^th head is simple podiatry. What do feet have to do with this topic? The reader will surely know that the 10 kings or horns are also shown as 10 toes in Daniel 2:41-42.

America: If the Shoe Fits

Let’s continue applying our laymen’s podiatry—the study and treatment of feet. We recall that Daniel saw 10 toes in the prophetic image of Nebuchadnezzar’s statue. We know that the 10 toes are a parallel symbol to that of the 10 horns, shown in both Daniel and Revelation.

As such, it is a prophecy provided through symbols and graphics. Symbols must have literal meanings, as is the case with all symbols in Scripture. This being so, we can then draw meaningful conclusions by simply looking at symbols.

As such, Nebuchadnezzar’s vision of a large human statue made of various materials (Daniel 2) contains a very important clue (among others).

Studying this picture, one is likely to uncover an ill-fitting fact. Were Nebuchadnezzar’s vision to apply to our day, we would note that the feet would be quite lopsided and deformed. Why? There would be a big, outsized toe if the United States were a member of this group.

Consider that a foot has one big toe and four progressively smaller ones. While there are size differences in our toes, none are so large that they are bigger than the foot itself, for instance. Proportionality must be observed.

Every indication that the Bible gives us about the final, last-day, 10-king power coalition is that each member is roughly proportionate in size. First, in Daniel 2 we are shown a normal set of 10 toes. In Daniel 7 as well as Revelation 12, 13, and 17, they are shown as 10 typical horns.

However, a little later—continuing the “horn” imagery—the 10 horns are implicitly compared to an emerging 11^th horn, which is said to have been small and which then uproots three of the existing horns (see the previously quoted verse, Daniel 7:8).

As such, we are led to recognize that the final 10 kings will not be small in size, nor is there any indication that the size of the horns will not be normal. We can reasonably conclude that the visions do not allow for outsized toes and feet, nor any grotesquely enlarged horns. The size differences would be normal … just as the big toe is bigger than the smallest of the toes.

But that is not what we would observe were Nebuchadnezzar’s vision to apply to our era in the world today. Presently, significant size differences would be noted. Consider that only one hugely outsized big toe would be visible. It certainly could not fit into the end-time glass slipper.

Given America’s status as a superpower and its huge economic influence upon the earth, it must be concluded that America today could not qualify as a member. It is just too large to be a big toe on either of the two feet that Nebuchadnezzar saw. A foot with such a large toe would not be functional.

It, therefore, must also be concluded that America likely will no longer be the most influential power in the world. While the specific reasons for this shrinking are not known, in one way or another, this country will diminish in terms of international influence. If it is not to be a member of the 10-king coalition, it will surely be subject to its rule.

Our generation is currently living at the tail end of the 6^th “head’s” rule … and the 7^th is about to be unveiled in the near future. There is yet one more world ruler that follows the 7^th head (but not shown as a head). This one is very evil—the Antichrist.

Ten sovereign kings (nation rulers) will pool their power together and then agree to put it at the disposal of the Antichrist (Revelation 17:13). Interestingly, a power coalition of the type prophesied here is a unique arrangement in global geopolitical history.

The general pattern throughout world history has been that only one nation would dominate the known world or its regions at that time. Even in our modern age, this has been the case. It has been a long, long time since the world has not been dominated by one prominent and powerful country.

Viewing developments in the world today, after one hundred years of rapid globalization, international relationships and nation groups are fragmenting as perhaps never before.

What is the agenda? Many nations are rankled with the global institutions (International Monetary Fund, the World Bank, the United Nations, and many others) that are dominating policy and have proven to be inflexible at times. Most of these organizations were launched in the late 1940s (prompted by the horrors of the two World Wars). Already in the early 1950s, counter groups were mobilizing.

But the state of disgruntlement and wanton ambitions of certain key countries have greatly accelerated this fragmentation development. It is a recombinant puzzle. Which 10 nations will break off from present global protocols to form an independent group of 10 who are capable of dominating the world in these last days? As mentioned, conditions are indeed underway.

The trend of fragmentation contributes to the geopolitical fluidity of our times. Changes can happen very quickly.

(For more information on global fragmentation, see the article, “Restless Nations Jostling to Usher in the 10 Kings.” In Part 2, we will examine the role of volatile elections in our day ushering in the 10-King era.)

***

Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble looks further into the prophetic future.

Do you have questions or other perspectives? You can contact Wilfred at: staff@eternalvalue.com. Please note that for reasons of volume and investment securities regulation, he cannot give financial advice.