Let me first begin with the Biblical facts.

When we observe the Apostle Paul’s instruction to “rightly divide the word of truth” (2Tim 2:15) we will clearly see the Biblical facts that there are two God-ordained people groups; 1.) the nation Israel and, 2.) “the church … the body of Christ,” as His focus during different ages. God has provided the Savior, Jesus Christ to reconcile both unto Himself and unto the fulfillment of His “eternal purpose… in Jesus Christ.” (Eph. 3:11)

These two different God ordained people groups have two different eternal plans and purposes;

• with two different operating systems; 1.) for Israel, under the Law, 2.) for the “body of Christ,” under Grace (Rom. 6:14),
• leading ultimately to two different eternal spheres (the earth, and the heaven, (cf. Gen. 1:1, Eph. 1:10),
• according to two different gospels (Jesus’ “gospel of the kingdom” under ‘the Law,’ and Paul’s “gospel of the grace of God” under ‘grace’ (Acts 20:24, Eph. 3:2),
• which were preached by two different sets of God-chosen foremost Apostles (Peter and “the Twelve,” unto Israel, and… Paul, unto the mainly Gentile “church… the body of Christ” (Rom. 11:13, cf. see Gal 2:7 in the KJV for its distinctive clarity).

Today, and since the Act 7:59 with the stoning of Stephen, Israel remains in a “fallen” condition and has for a time been set aside from God’s eternal plan for them, during today’s Gentile age (cf. Rom. 11:10-11, 25). Today the Lord is working in and through “the church… the body of Christ” (Eph. 1:21b-22a) as His “ambassadors” for Christ on earth (2Cor 5:20), offering “the gospel of the grace of God” (Acts 20:24) under the relational terms of today’s “dispensation of the grace of God” (Eph. 3:2) for believing mankind’s reconciliation with God.

After today’s Gentile church age of the pure “grace of God” ends with the Rapture of “the body of Christ” to dwell and “reign with Him (Christ)” … “eternal in the heavens” (2Tim 2:12, 2Cor 5:1b), God will again turn to Israel on earth and fulfill every covenant and promise He made to Abraham and Abraham’s “seed.” The believing O.T. saints and martyrs of the Tribulation will then participate in the establishment and co-reign with Christ in His Millennial Kingdom on earth… and thereafter in the eternal Kingdom on the new earth…forever (cf. Rev 5:10, 20:6).

“Replacement Theology”

Today the erroneous doctrine of “Replacement Theology,” sometimes called “Covenant Theology,” prevails among Christians. “Replacement Theology” in essence says ‘God is permanently finished with the nation Israel.’ They also presume that God has given all of Israel’s covenants and promises to the church. They erroneously claim that the church today, “the body of Christ,” is what they call “spiritual Israel,” thus, having replaced Israel!

How did this terrible and destructive theological error get started?

This blasphemy against “the word of God” dates back nearly 2,000 years, since the days of Justin Martyr, Irenaeus, Clement of Alexandria, and Augustine of Hippo, et al (~100–400AD). It was adopted by Romanism and then passed to the Protestant churches… unto this very day.

Actually, I can see how Augustine in his day might come to the unbiblical conclusion that the church, “the body of Christ” is “spiritual Israel.” Consider that Augustine, in reading his bible, would know the promises and prophecies of Israel being one day restored to reign in the kingdom of heaven on earth. But, Augustine also observed that the nation Israel was no more, being scattered in 70AD, when the Roman General Titus destroyed the city of Jerusalem and the Temple. This destruction was just as Jesus had said it would be. “And Jesus said unto them, See ye not all these things? verily I say unto you, There shall not be left here one stone upon another, that shall not be thrown down. (Matthew 24:2).

Augustine was then ripe for the great Satanic lie that says “the church… the body of Christ,” was now “Spiritual Israel.” This corrupt theology became and still is an established core fundamental doctrine of the Catholic Church, referring to itself as “The New Israel.” We see this stated here below in an excerpt of The Catechism of the Catholic Church, paragraph #877 (parenthesis added).

“… In fact, from the beginning of his ministry, the Lord Jesus instituted the Twelve (Apostles) as THE SEEDS OF THE NEW ISRAEL and the beginning of the Sacred Hierarchy (of the Roman church).” 

Of course, Paul tells us there’s no such thing as a mediatorial hierarchy of individuals above the members of “the body of Christ,” certainly not an “Apostolic Sacred Hierarchy” as intermediaries. By contrast, Paul writes; “For there is one God, and one mediator between God and men, the man Christ Jesus;” (1. Tim. 2:5)

This false idea of “Replacement Theology,” that says the church replaces Israel, is the most prevailing and destructive great error in Christendom today. Why? Because this error hugely distorts proper Bible interpretation in almost every way… from eternal salvation to our eternal destiny in heaven. We as believers should never buy into this false concept that has permeated the vast majority of Christendom.

The fact and truth is… when the Bible says “Israel” it means “Israel,” not “the church… the body of Christ.”

The lie of “Replacement Theology” led Romanism to the error of the amillennialists position, meaning they believe there is no Millennial reign of Christ to come on earth, with Israel co-reigning on earth.

Replacement Theology has distorted proper Bible Interpretation such that The Roman Catholic Church sees no Rapture to “dwell eternal in the heaven” (2Cor 5:1b) and no Millennial (1,000-year) reign of Christ on earth... only a gathering of all believers to Him on earth when He comes again.

As admitted ‘amillennialists’ and contrary to Scripture, the Roman Church entirely rejects the idea of Christ’s Millennial reign, calling it ‘millenarianism’ in the ‘Catechism of the Catholic Church #676.’ (see #668-679)

What’s the Catholic Position?

Here below this website contrasts the truths of fundamental Bible Premillennialism, meaning 1.) the Rapture of “the body of Christ” to dwell in heaven 2.)  before the 7-yr. Tribulation, 3.) then the 2^nd Coming of Christ to earth to establish, 4) The Millennial reign of Christ in earth; … comparing it to Catholic “amillennialism,” which has “no belief in Paul’s “blessed hope” of the Premillennial Rapture of “the church…. body of Christ” (1Thes 4:13-18, Titus 2:13), nor in the Millennial Reign of Christ on earth” (Rev. 20:4).

“As far as the millennium goes, we tend to agree with Augustine and, derivatively, with the amillennialists. The Catholic position has thus historically been "amillennial"… The (Roman) Church has rejected the premillennial position, sometimes called “millenarianism” (Catechism #676, parenthesis added).

It continues;

In the 1940s the Holy Office judged that premillennialism "cannot safely be taught," though the Church has not dogmatically defined this issue. With respect to the rapture, Catholics certainly believe that the event of our gathering together to be with Christ will take place.” (to be raised from the grave at His 2^nd coming to earth)

(The above is taken from http://www.catholic.com/tracts/the-rapture , parenthesis added).

It is clear in Book of Revelation, written by the Apostle John whose ministry was only unto “the lost sheep of the house of Israel,” (Matt. 10:5-6), as well as O.T. prophecy, that Israel will ultimately reign with Christ in the Millennial Kingdom on earth and later on the New earth, eternally.  

“For Zion’s sake will I not hold my peace, and for Jerusalem’s sake I will not rest, until the righteousness thereof go forth as brightness, and the salvation thereof as a lamp that burneth. ²And the Gentiles shall see thy righteousness, and all kings thy glory: and thou shalt be called by a new name, which the mouth of the LORD shall name. ³Thou (Israel) shalt also be a crown of glory in the hand of the LORD, and a royal diadem in the hand of thy God. ⁴Thou shalt no more be termed Forsaken; neither shall thy land any more be termed Desolate: but thou shalt be called Hephzibah [“my delight is in her”], AND thy land Beulah [“to be married”]: for the LORD delighteth in thee, AND thy land shall be married. ⁵For as a young man marrieth a virgin, so shall thy sons marry thee (the land): and as the bridegroom rejoiceth over the bride, so shall thy God rejoice over thee (Israel).” (Isaiah 62:1-5)