All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
The narration to which you referred in the question is authentic, and it is enough evidence of its authenticity that it was reported by Imaam Muslim and on the authority of Thawbaan who narrated that the Prophet said: "Verily, Allaah drew the ends of the world near to me until I saw the East and West of Earth, and He bestowed upon me two treasures, the red and the white…" this narration is also reported by Imaam Ahmad (in his Musnad), Abu Daawood (in his Sunan), At-Tirmithi (in his Sunan), Ibn Habbaan (in his Saheeh), Al-Bayhaqi (in his Sunan) and others .
The 'two treasures' in this narration refer to gold and silver; this is an indication that the Muslims were triumphant over the Roman and Persian Empires.
The narration also means that the Muslim community as whole will not be violated by other nations. Furthermore, Allaah will not destroy them by a drought which will affect all of them. Even if the Muslims are violated and are affected by drought, this will only be in some areas in comparison to the remaining Muslim countries, and that the Muslim nation will be protected from the plots of the enemies as long as they do not fight each other.
Allaah Knows best.