John Gill Commentary Jeremiah 51:13

"O thou that dwellest upon many waters, abundant in treasures, thine end is come, the measure of thy covetousness." — Jeremiah 51:13 (ASV)

O thou that dwells upon many waters. Here Babylon is addressed, either by the Lord, or by the prophet, or the godly Jews; who is described by her situation, which was by the great river Euphrates; which being branched out into several canals or rivers, both ran through it, and encompassed it; hence mention is made of the rivers of Babylon, (Psalms 137:1); and a fit emblem this city was of mystical Babylon, which is also said to sit on many waters, interpreted of people and nations, (Revelation 17:1Revelation 17:15); and which Kimchi here interprets of an affluence of good things, though he admits of the literal sense of the words: abundant in treasures: of corn, and of the fruits of the earth, and so in condition to hold out a siege, as well as strongly fortified by art and nature, before described; and of gold and silver, the sinews of war, which she had got together, partly by commerce, and partly by the spoil of other nations; and yet neither her situation nor her affluence could secure her from ruin.

your end is come, [and] the measure of your covetousness; this flourishing city was now near its end, and with it the whole Babylonish monarchy; the time fixed by the Lord, for the duration of one and the other, was now come; and whereas her covetousness was insatiable, and would have known no bounds, for the enlargement of her dominions, and for the accumulation of more wealth and riches; God set a limit to it, beyond which it should not go; which measure was now filled up, and the time for it expired. The Targum is, "the day of your destruction is come, and the time of the visitation of your wickedness."