
Western Protestant exegesis interprets prophecy in one of four different ways: Preterism, Historicism, Polemicism, or Futurism.
Liberals love Preterism; they say, "There is no God, and even if there was He wouldn't know the future, and even if He did He certainly wouldn't tell Isaiah." Therefore, in their minds when Isaiah predicts events concerning King Cyrus 200 years before their occurrence, (Is. 44:28; 45:1) it proves automatically – prima fasci – that Isaiah actually wrote it after the fact, or rather that the book of Isaiah was not written by Isaiah but by someone after the Captivity. Their basis for this is that Isaiah could not possibly have known about King Cyrus 200 years ahead of time. This is an ex-Vaticina interpolation, if you like theological terms. Liberals cannot believe in a supernatural knowledge of the future, so they embrace Preterism.
The second, Historicism, is what Kingdom-Now people prefer. The Reformers were also greatly inclined toward this view. Historicism says, "The eschatological prophecies of the New Testament were completely fulfilled in the Early Church." The Early Church identified Rome with Babylon; when Peter closes his first epistle he says, "She who is in Babylon greets you." (1 Pe. 5:13) False religion begins in Babylon with Nimrod, finds its way through Asia Minor (particularly the city of Pergamum), and from there, into Greco-Roman civilization. From there it comes into things such as Roman Catholicism, Freemasonry, etc.; however, the root of it all is in Babylon, the false religious system of the world in confederation with the corrupt political system.
The Babylonians destroyed the first Temple on Tisha ba'v, roughly the 9th of August on the Hebrew calendar. Under what were nearly identical military circumstances, Rome destroyed the second Temple on the same date, Tisha ba'v. Therefore the early Christians began identifying Rome with Babylon; it is the same false religion.
The example I generally use to explain this is Scotland Yard. Scotland Yard is the name of an alleyway between two buildings running from Whitehall to Victoria Embankment in London; it was the original headquarters of the metropolitan police. Now, unlike in the days of Sherlock Holmes, the metropolitan police are located a half-mile away on Victoria St. However, their headquarters is still called Scotland Yard although it is no longer located on that little street off of Whitehall. In other words, the name of the institution has taken the name of its original location. With Babylon it is the same idea. Therefore, in the book of Revelation, when the early church saw the woman on seven hills, representing the Capitolina, since the woman is a city, it would have been Rome to them. (Rev. 17:9)
Therefore, when Rome burned under Nero, it fulfilled the prophecies of Isaiah and Jeremiah that predicted the fall of Babylon. This is the way the early Christians thought. When Mount Vesuvius exploded. Volcanic ash accumulated in the ionosphere and the upper stratosphere, thus preventing solar and lunar radiation from giving their light over much of the Roman Empire. This actually does happen; I believe the last time it happened was in Iceland during the 1960's. Next, in roughly 70 A.D., the Temple is destroyed and the Romans set up pagan images and worshiped them on the Temple Mount; the Christians of the day believed that was the Abomination of Desolations – ha shikutz ha meshomen. Thus these things have been fulfilled; that view is called Historicism.
The Protestant Reformers loved Historicism, because they said that it was the Roman Empire, Imperial Rome, which stopped the medieval papacy from blossoming. After Constantine moved his capitol to Constantinople and the Visigoths moved in, then Rome blossomed. When Scripture says that “He who restrains them will be taken out of the way”, (2 Th. 2:6) they interpreted that as Imperial Rome restraining Papal Rome and then being taken out of the way. This is why the Kingdom-Now proponents say that the “Last Days” only refers to the events leading up to 70 A.D., usually denying any future meaning to the book of Revelation and so on.
The third way of interpreting prophecy is Polemicism. Polemicism says: "The book of Revelation is only given to encourage Christians during times of persecution. It reminds them of the glory to come and the judgment of their persecutors, and is thus designed to encourage them.” This is a true point: Revelation opens by stating that there is a blessing on anyone who reads it, and apocalyptic literature will certainly always encourage a persecuted church. That is part of its purpose, but not in entirety.
The fourth method of interpreting prophecy is Futurism, which states that these things are going to happen in the Last Days.
This is Page 4 of 15 of PART 1
Scripture taken from the New American Standard Bible Copyright © 1960, 1962, 1963, 1968, 1971, 1972, 1973, 1975, 1977, 1995 by The Lockman Foundation.