This is a radical move on the part of the Iranian government - even a game-changing event. It has led to several things that are happening presently in our own government reaction to this attempt on the Saudi Arabian Ambassador. The first is that the Obama administration is seeking what they call, "crippling" sanctions against the Iranian government. The problem with this action is that it will require countries like China and Russia to comply as well. Since we do not do any business with Iran, our ability to directly affect their economy is fairly limited. The second action, which is not receiving hardly any attention involves Israel and the sale of 55 advanced bunker-busting bombs to their military. This was something that was allowed by the Obama Administration. To give a little insight on this action, the Bush Administration was asked to do the same thing - and did not do it. It was viewed as too controversial a decision, and one that would come back to haunt them if Israel used these weapons to destroy Iran's nuclear program.
What does all this mean for our world. It actually means a great deal. One of the things Israel absolutely had to have to deal with Iran's pursuit of nuclear weapons was bunker-busting bombs. Now that they have them - an attack on Iran's nuclear infrastructure is far more possible. This would cause a huge disruption of the delivery of oil throughout the world. Those who understand the ramifications of this say it might cause the cost of oil to surge to 6-8 dollars a gallon - or more. This would send an already fragile world economy over the edge into full scale collapse. Such a collapse would put our world into financial chaos. It would be a perfect scenario for a world leader to rise to help solve such an issue - not to mention to lead the world toward a one-world currency or system that would be easily be transformed to a cashless economy.
There is also the problem of military reprisals for Israel taking out Iran's nuclear weapons program. If such an attack were to take place, there is a good possibility that the world would be set on fire. Russia, Syria, and Turkey all have mutual defense pacts with Iran. If Israel were to attack Iran - what would these countries do? It could easily cause the region to erupt with protests - and eventually a military action against Israel from nations throughout the region. That would fit the view of the Gog-Magog conflict of Ezekiel 37-38 being an event which happens before the rapture of the church and the beginning of the 7 year tribulation period of the book of Revelation.
The situation with Iran is fluid at the moment. Much of what I've written today has yet to happen. We do not know what sanctions will be put on Iran. We do not know how effective they will be. We do not know how Iran is going to react to such things. We do not know how the rest of the Middle East will react to Iran's actions. But the one thing we do know is that Israel now has the ability to penetrate the bunkers which hide much of Iran's nuclear facilities. The question will be what Israel will do with them? The other thing we also know is that these events have done nothing to lessen the political pressures that are rising in the Middle East. We will need to stay tuned to learn what will happen. But in the mean time we also need to stay on our knees and continue to pray for the peace of Jerusalem, because these events have made that peace that much more difficult.