America is completely and utterly bankrupt and will pay the Piper soon. Babylon is...Babylon. Most likely an oil funded Dubai-like entity that rises in Iraq (or Shinar as Zech 5 puts it)
I just don't see a Dubai-like entity that ever was, or ever will be a "golden cup" in the Almighty's hand? But that's me - not saying it can't happen as you see it.
"Mystery Babylon", IMO, represents a government or unity of governments (i.e. UN). Reference to its demise in Rev., and the interpretation of king Nebuchadnezzar's dream of a statue representing his kingdom and the kingdoms to come by Daniel.
Keep in mine also that Israel itself has a "government". I'm still pondering the somewhat abstract notion what "the beast" means as related to government. That's what will be destroyed at the end of this age.