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Peter is addressing a region, not the Babylon in Daniel's time. It makes no sense in the narration of the Revelation; the region did not sit on seven mountains (Revelation 11:9), nor was it the place where Christ was crucified (Revelation 11:8).

The papacy didn't exist in Peter's time, so how could he have related mystery Babylon symbolizes the papacy?

The interpretation that Babylon represents the papacy comes from the Historicists, Protestant interpretation of Revelation. While the interpretation that the papacy fulfills the little horn in Daniel and the beast rising from the sea in Revelation is based on sound exegesis and historical...

The same arguments between preterists and futurists over the correct interpretation of Babylon have been going on since the Jesuits conceived the eschatologies. Let me indulge in a critique of these eschatologies from an older view, the historicists’ view. Historicism rose with Protestantism...

Revelation 18 3 For all the nations have drunk of the wine of the passion of her immorality, and the kings of the earth have committed acts of immorality with her, and the merchants of the earth have become rich by the wealth of her sensuality." NASB It was the Romans that made the merchants...

Good posts. Are you coming from a historicists' perspective?