At Daniel 2:33-35, the "stone" not cut by hands strikes the image on the feet of iron and of molded clay and crushes them.
Notice that in Daniel 2:44,45, the setting up of the kingdom is synonymous with the stone crushing the image. Verse 44 talks about the Kingdom crushing when it is set up, and verse 45 talks about the feet being crushed by the stone. It's clear they are describing the same event.
It's therefore logical to conclude that the kingdom is set up when the stone (representing the kingdom) strikes the image in the feet and crushes the image entirely, not before, not after.
Contrary to this, the Watchtower teaches that in 1914 the kingdom (ie, the stone) was established in heaven, and
Contrary to this, the Watchtower Society claims that this prophecy in Daniel indicates that the stone was cut in 1914, and that it has been hurtling to earth since then:
NO OTHER WORLD POWER WILL ARISE
13 A prophecy in the book of Daniel enables us to establish where we are in the stream of time. Daniel describes an image in human form made up of different metals. (Dan. 2:28, 31-33) It represents successive world powers that have had a major influence on God's people, past and present. They are Babylon, Medo-Persia, Greece, Rome-and the last, in our time, another world power. A study of Daniel's prophecy shows that this final world power is depicted in the image as the feet and toes. During World War I, Britain and the United States forged a special partnership. Yes, the fifth part of Daniel's image is the Anglo-American World Power. The feet form the last part of the image, indicating that no other human world power will appear on the scene. That the feet and toes are made up of iron and clay pictures the weakened state of the Anglo-American World Power.
14 The same prophecy indicates that God's Kingdom, pictured by a large stone, was cut from the mountain of Jehovah's sovereignty in 1914. That stone is now hurtling toward its target-the feet of the image. At Armageddon, the feet and the rest of the image will be smashed. (Read Daniel 2:44, 45.) Thus, the Anglo-American World Power will still be the dominant world power when Armageddon strikes. How thrilling it will be to witness the complete fulfillment of this prophecy! Watchtower 12 9/15 "How This World Will Come to an End"