Top Bible Prophecy #8 - Daniel 9:24-27

Daniel 9:23 At the beginning of your supplications the command was issued, and I have come to tell you, for you are highly esteemed; so give heed to the message and gain understanding of the vision.


The setting for today's top Bible Prophecy - Daniel 9:24-27
The prophet Daniel in Daniel 9:1-2 had been reading a series of verses from the prophet Jeremiah in Jeremiah 29:10-14 - 
“For thus says the Lord, ‘When seventy years have been completed for Babylon, I will visit you and fulfill My good word to you, to bring you back to this place. 11 For I know the plans that I have for you,’ declares the Lord, ‘plans for welfare and not for calamity to give you a future and a hope.12 Then you will call upon Me and come and pray to Me, and I will listen to you. 13 You will seek Me and find Me when you search for Me with all your heart. 14 I will be found by you,’ declares the Lord, ‘and I will restore your fortunes and will gather you from all the nations and from all the places where I have driven you,’ declares the Lord, ‘and I will bring you back to the place from where I sent you into exile."

Upon reading and reflecting on that text written over 70 years prior, Daniel decides to seek the Lord in prayer and to await God's response in Daniel 9:3-19.  In Daniel 9:20-23 the angel Gabriel comes to a weary Daniel to encourage him and instruct him about God's future plans for Israel and His redemptive purposes to the end of history.  Daniel had already been in Babylon for 70 years, and knew the time was about done.  However what he needed to know from God was: "what now?" We read these words in Daniel 9:23 "At the beginning of your supplications the command was issued, and I have come to tell you, for you are highly esteemed; so give heed to the message and gain understanding of the vision."

With that word of encouragement, Daniel is given in 80 words the most far reaching prophecy in Daniel 9:24-27.  It is to these four verses I direct the reader's attention to consider the Top Bible Prophecy of Daniel 9:24-27.

Top Bible Prophecy - Daniel 9:24-27
Many prophecies exist throughout scripture, some of which we have covered in previous studies.  In this current periodic study we are entitling "Top Bible Prophecies", we have looked at those prophecies which predict and shape the events of scripture and history. 1 Many of those prophecies cover vast stretches of time and others are known for their heights of revelation about Jesus Christ.  Daniel 9:24-27 accomplishes both.  Below is a summary of the passage and the three great truths that show why it can be termed a Top Bible Prophecy:

1. Sovereignty of God                  9:24-25
The prophecy begins by stating in Daniel 9:24 - "Seventy weeks have been decreed for your people and your holy city."  To understand how the Jews reckoned time, we know from passages such as Genesis 29:27-28, a "week" was a way of measuring a period of seven years or what is called a "heptad". Being that the Jewish calendar was based on the phases of the moon, each year was 360 days in length.  Hence 490 years are spoken of here in Daniel 9:24 that correspond to a period of time divinely prescribed by God.  

God's Sovereignty is His comprehensive rule over people, times and events. (Genesis 50:20; Psalm 90:1-2; Daniel 2:44; Romans 11:36)   Before God reveals the specifics of this time frame, He first of all lists six Divine purposes for the remainder of his dealings with his people Israel -
1. To finish transgression
2. To make an end of sin
3. To make atonement for iniquity.  

Those first three purposes would be accomplished in Christ's first coming to die on the cross and raise from the dead.  God is Sovereign enough to orchestrate all of time in order to send His Son to accomplish salvation once and for all. (Galatians 4:4)  Daniel then lists three more Divine purposes that relate to Christ's future second coming:
4. To bring in everlasting righteousness
5. To seal up vision and prophecy
6. To anoint the most holy

These last three Divine purposes are like the first three, they must necessarily come to pass.  All six have relationship to Israel, to history and to Christ.  God is Sovereign enough to bring them about. (Acts 2:23-24; Romans 11:25-26; Philippians 3:20-21)  Thus the first reason why Daniel 9:23-27 is a Top Bible Prophecy.  But notice the second truth taught...

2. Savior's Cross                          9:25-26a
From the Sovereignty of God we see his remaining explanation of the prescribed 70 weeks (490 years) that would lead up to the crucifixion of our Lord.  Recall the observation we made about how the Jews reckon time? In these two verses God revealed through this angel two divisions of this prescribed period, with the third being dealt with later in 9:26b-27.  In Daniel 9:25 we read - "So you are to know and discern that from the issuing of a decree to restore and rebuild Jerusalem until Messiah the Prince there will be seven weeks and sixty-two weeks; it will be built again, with plaza and moat, even in times of distress."  

The first divided section deals with "seven weeks" or "49 years".  The decree to rebuild and restore Jerusalem is recorded in Nehemiah 2 and occurred on March 14, 445 b.c.  Whenever you count 49 years from that date, you arrive at 396 b.c, the exact year the city was done and also whenever Malachi the prophet finished his prophecy.  

The second divided section of 62 sevens or 434 years is reckoned from the completion of the city in 396 b.c to the crucifixion week of our Lord in 33 A.D.  Daniel 9:26a states - "Then after the sixty-two weeks the Messiah will be cut off and have nothing, and the people of the prince who is to come will destroy the city and the sanctuary."  Now whenever you do a little math and combine these two divisions together (49 years plus 434 years = 483 years) and multiply 483 years times 360 days, you arrive at a figure of 173,880 days.  If we take the decree to rebuild and restore Jerusalem (March 14, 445 b.c) and count 173,880 days, we would arrive at April 6, 33 A.D, the day in which Jesus rode into Jerusalem on his triumphal entry!  That very week would be when our Lord was to be crucified or "cut off" as predicted by Daniel.  

So we see the truths of God's Sovereignty, leading to the Savior's cross which in turn brings us to the third major truth found in this top Bible prophecy, namely...

3. Surrounding events leading to Christ's return 9:26b-27
Daniel's prophecy jumps from the cross to the future wherein history will be coming to its intended end before Christ's return.  The third and final division of the seventy weeks is classified as "one week" or a seven year period wherein this "prince" will make a covenant with Israel.  In the middle of this seven year period, the prince (elsewhere called "Anti-Christ, Son of Perdition and other names) will break his treaty and thus revealing his true colors.  Thus "Anti-Christ" is the subject of these verses, with his rebellion and blasphemy being the primary predicted events.  This final seven year period or "week" spoken of in Daniel is referred to by other names throughout the Bible.2

This focus of Daniel's 70th week is designed to show the stage upon which the second coming of Christ will take place.  The "complete destruction" upon the one "who makes desolate" (Anti-Christ), though not explicitly stated here in Daniel 9:24-27, is shown in other texts to be accomplished by one Person, the soon coming King of Kings and Lord of Lords.  2 Thessalonians 2:8 illustrates - "Then that lawless one will be revealed whom the Lord will slay with the breath of His mouth and bring to an end by the appearance of His coming." 

Conclusion
Praise be to God for the top Bible prophecy of Daniel 9:24-27 that reveals the Sovereignty of God, the Savior's Cross and the Surrounding events of Christ's second coming.  

Endnotes:_____________________

1. Other top prophecies that have been studied previously are: Genesis 3:15; 12:1-7; Deuteronomy 30; 2 Samuel 7:8-16; Psalm 110; Isaiah 53 and Jeremiah 31:31-34.  The reader is encouraged to type in "Top Bible Prophecy" in the search engine on this blog site to view the previous entries in this study.
  
2.  Note the names given for Daniel's "seventieth week" throughout scripture:
1. Day of Israel's Calamity. Deuteronomy 32:35
2. Jacob's trouble or troubled time. Jeremiah 30:7; Daniel 12:1
3. Day of Wrath. Zephaniah 1:15
4. When you arrive in the New Testament, Daniel 9:26b-27 constitutes the backdrop for Jesus' teaching on the times leading up to His second coming in Matthew 24:15 and Mark 13:14.    
5. Day of the Lord. 1 Thessalonian 5:2
6. The Tribulation and Great Tribulation, Matthew 24:21,29
7. Judgment leading to Christ's return. Revelation 6-19 

Book of Daniel in a nutshell

Daniel 1:9 "Now God granted Daniel favor and compassion in the sight of the commander of the officials."

Brief Introduction
In today's post I am interested in acquainting the reader with an overview of the Book of Daniel.  Daniel was a Jewish lad of 15 years of age when he and his fellow Jews were taken away into exile by the Babylonians to the land of Babylon.  Nebuchadnezzar, the king of what came to be called the "Neo-Babylonian Empire" took the Jews into captivity over a period of three stages in 605 b.c, 597 b.c and the final defeat of Jerusalem occurring in 586 b.c.  These dates are important to consider for getting into the reader's mind both Daniel's day and the prophets who were ministering in Jerusalem.  Daniel would had been among those in the first deportation, Ezekiel in the second stage of exile and Jeremiah representing those Jews who saw Jerusalem fall in the final wave of exile in 586 b.c.  Daniel's book is interesting because he begins writing it as a young man of 15 and receives the visions from God up until past his 85th year of life.    

Ways in which to approach Daniel
As a young man Daniel had been called and gifted by God to receive and interpret visions, as well as compose the series of revelations that would span the over 70 years he would spend in Babylon.  To get a feel for the types of things Daniel wrote in his book, we can divide the Book up topically or chronologically:

Three Topical sections covered in Daniel
Section 1: Testimonials Daniel 1,3,6
-Daniel and his 3 friends. Chapter 1
-The 3 friends and the fiery furnace. Chapter 3
-Daniel and the lion's den. Chapter 6

Section 2: Prophecy Daniel 2, 4, 7-12
-Predictions for the remainder of history until Christ's return. Chapter 2
-Prediction of the humbling and restoration of Nebuchadnezzar. Chapter 4
-Predictions and further elaborations on prophecies of history until Christ's return. Chapters 7-12

Section 3: History Daniel 5
-The empire of Babylon falls to the Persians


Four sections of Daniel in Chronological order
1. Daniel 1-4 occurs during the reign of King Nebuchadnezzar of Babylon 605b.c-562 b.c
This is where we see Daniel in his youth and where the themes of God's Sovereignty and Kingdom are developed.

2. Daniel 7-8 occurs during the brief reign of Nebuchadnezzar's son, known in history as Nabonidus in 556 b.c.  History outside of scripture records that Nabonidus had a son by intermarriage with his father's daughter of a different mother by the name of Belshazzar.  As Nabonidus grew more interested in seeking adventure to fill his appetite for archaeological relics, Belshazzar was installed as his co-king and overseer of the empire.  It was with this background that Daniel, a far older man, received his second series of visions concerning history in general and the time in between the Old and New Testaments.  

3. Daniel 5-6 Though appearing in the text of Daniel before chapters 7-8, chapters 5-6 chronologically are revealed to Daniel after 7-8.  Daniel's book primarily is organized more in a topical, rather than a Chronological manner.  In the language of the court, Belshazzar is called "son" of Nebuchadnezzar due to his being in the dynastic line of Nebuchadnezzar (Daniel 5:2). Daniel interestingly enough ends up being 3rd in command over Babylon in Daniel 5:29, a title which would enable him to serve the court after the switch from the Babylonian to Persian Empires.  It is in these chapters we see Daniel make statements about events near to his day and the King of Persia, Darius, issue a decree by Daniel's pen of the universal reign of God's Kingdom. (Daniel 6:26-28)  

4. Daniel 9-12 is the longest and most far reaching prophetic section of Daniel.  Composed by Daniel in his mid-eighties, we see the most remarkable prophecies recorded in the Old Testament.  It is in this last section where we see all of God's prophetic insights to Daniel come to bear.  The Book of Daniel ends as a sealed book, a "padlock", awaiting the time when Jesus in Matthew 24 and other books such as Revelation will come and "unlock" the wonders revealed in Daniel.  

It is hoped that this brief survey has aided the reader in gaining a greater appreciation and grasp of the Book of Daniel.  

P3 Why study the Revelation of Jesus Christ - Revelation 1:3

Revelation 1:3  Blessed is he who reads and those who hear the words of the prophecy, and heed the things which are written in it; for the time is near.

Review
I offer once again the quote I gave a couple of days ago from the late pastor and Southern Baptist preacher Dr. W.A Criswell: No other book in the Bible has as much circumference and height and depth as does the apocalypse of Jesus Christ.  It describes the great consummation of the age, and we are in the plan and that program and that unfolding now.  We are involved in it.  It is a part of our life and ultimately a part of our destiny.  When we read the Book of Revelation, we read about ourselves.  When we scan the vistas of the ages in this book, we are looking at the destiny of our own souls.  It is not something far off; the time is at hand.  It concerns us."1

For the past couple of days we have been interested in understanding why the Book of Revelation is so important for the Christian.  So far we considered the reasons of the Person of Christ being revealed and the prophecies of things to come.  In today's post we want to look at one more reason to study Revelation from Revelation 1:3 - namely the Promises of Blessing.  

Promises of Blessing.              1:3
Revelation 1:3 states - "Blessed is he who reads and those who hear the words of the prophecy, and heed the things which are written in it; for the time is near."  What does it mean to be "blessed"? According to Greek Scholar W.E Vine, the word translated "bless" speaks of "the nature of that which is the highest good".2  Whenever you and I think of "blessing", we conceive of blessings mainly having to do with "material things" or "spiritual highs".  Though such realities can flow from blessing, the true heart of blessing is having more of God's Power and Presence in your life.  

You and I as Christians are in desperate need of the vertical in order to impact the horizontal.  What do I mean by that? Whenever you are exposed for any length of time to this world, your way of living quickly becomes horizontal, meaning that all that matters is what you see in front of you and around you.  However the Book of Revelation is refreshing because it presents all of life as being about the vertical - that is God centered, Christ exalting and Spirit saturated.  Only when we are vertical in our vision can we affect the horizontal around us.  Revelation starts off with the vertical and reveals how the horizontal world right now and will be impacted by Christ's return.  

According to Revelation 1:3, a three-fold vertical promise of "blessing" is given.  First it starts with the blessing to the one who "reads".  That word translated "read" speaks of public reading, preaching or teaching of the scriptures.  Whenever Jesus entered into the synagogue at Nazareth to preach his first sermon in Luke 4:16, that word "read" was used.  When the Apostle Paul was writing instructions to the young pastor Timothy in 1 Timothy 4:13, he said to give himself to "public reading, exhortation and teaching."  Revelation is meant to be preached, and thus we see a promise of more of God's power and presence in the preacher. 

But notice also two other blessings: namely to those who "hear" and those who "heed".  Those who "hear" obviously refers to the ones who are listening to the preaching of the Book. Remember, by Divine inspiration John wrote this book to seven churches in Asia Minor.  The Book of Revelation was meant to be circulated, preached and heard in the churches.  Then that third word "heed" refers to the obedience and embracing of Revelation's message by both the preacher and the person in the pew.  All Christians know that it is not enough to be a mere hearer of the Word, but also a doer thereof. (James 1:22-25) 

Conclusion So then it is important for the Christian to hear and heed the words of Revelation? We know that the Person of Christ is revealed, that prophecies about the future are given and that promises of blessing abound in Revelation.  John punctuates these reasons with the final little phrase at the end of Revelation 1:3 "the end is near".  Quite literally, this particular present age is drawing to a close.  The final tick of the final second of God's prophetic clock is about to go to twelve.  History as we know it is ready to exhale and give away to Christ's return, Millennial reign and New Heavens and new Earth.  My prayer is dear friend that you are read to be met by the Master of the Book of Revelation - Jesus Christ.  I close with these words from Romans 10:9 "If you will confess with your mouth Jesus is Lord and believe in your heart that God raised Him from the dead, you will be saved."  


End Notes:______________

1. W.A Criswell.  Expository Sermons on Revelation.  Pages 13-14

2. W.E Vine. Expository Dictionary of New Testament Words. Page 133

P2 Why Study the Revelation of Jesus Christ - Revelation 1:2

Revelation 1:2 "who testified to the word of God and to the testimony of Jesus Christ, even to all that he saw.

Review:
Yesterday after covering the occasion for its writing, as well as some practical points of consideration, we listed three main reasons for studying Revelation: Person of Christ is revealed, Prophecy of things to come and Promises of Blessing.  Yesterday we dealt at length about the revelation of Christ Himself.  In today's post I want us to consider a second reason why it is important for the Christian to study this book: Prophecy of things to come.   

Prophecy of things to come.    1:2
Whenever people think of the Book of Revelation, they most often think of the book as being all about Prophecy.  In most cases that notion is almost certainly true.  We must remember that the Book of Revelation is partially historical, partially symbolic, partially descriptive and mostly prophetic.  It is historical in that John wrote to seven literal churches.  It is historical in that some of the events described do refer to the persecutions going on in John's day.  Revelation is also descriptive in how it often interprets its own details. With that said, the bulk and primary thrust of Revelation has to do with what Christ is going to bring about at His second coming.  

Prophecy in the Bible serves five functions: to warn, comfort, correct, to predict and to point to Jesus Christ.  We won't take space today to trace the first four of those functions through the scripture, however the final function of prophecy stands as Prophecy's chief purpose: point to Jesus Christ.  Revelation 1:1 states that the book was written "to show to His bond-servants, the things that must soon take place." Revelation 1:3 explicitly tells us that: "Blessed is he who reads and those who hear the words of the prophecy".  In Revelation 1:2 we see reference to the "testimony of Jesus Christ", which according to Revelation 19:10 constitutes the spirit of prophecy.  

According to Revelation 1:19, the key verse of the whole book, we read:  "Therefore write the things which you have seen, and the things which are, and the things which will take place after these things." The first part about "the things which you have seen" covers Revelation 1.  The second part about "the things which are" deals with Revelation 2-3 and 4-5.  Then the final part of 1:19 concerning "things which will take place" will be unfolded in 4-5 and mainly in 6-22.  

Most of the book tells you about the future to come.  Isn't that important for us as Christians to know?  It most certainly is!  1 Peter 3:15 exhorts Christians to give reason for the hope that is within them.  How can you have hope to communicate today if you are unsure about Who holds tomorrow? Revelation solves that issue.  Or how about the purifying function of prophecy, as stated in 1 John 3:3 as "the one who has this hope in Him is made pure, even as he is pure". Again reading, studying and hearing Revelation being preached or taught cleanses the mind and sanctifies the heart.  Certainly what Jesus prayed in John 17:17 applies to Revelation's prophetic function: "Father sanctify them in your truth, for your Word is truth."  So the Book of Revelation is crucial to the Christian because the Person of Christ is revealed and the Prophecies of things to come.  More tomorrow.....

P1 - Why Study the Revelation of Jesus Christ - Revelation 1:1

Revelation 1:1-3 "The Revelation of Jesus Christ, which God gave Him to show to His bond-servants, the things which must soon take place; and He sent and communicated it by His angel to His bond-servant John."

Introduction:
The late pastor and Southern Baptist preacher Dr. W.A Criswell wrote these words about the Book of Revelation in his commentary: No other book in the Bible has as much circumference and height and depth as does the apocalypse of Jesus Christ.  It describes the great consummation of the age, and we are in the plan and that program and that unfolding now.  We are involved in it.  It is a part of our life and ultimately a part of our destiny.  When we read the Book of Revelation, we read about ourselves.  When we scan the vistas of the ages in this book, we are looking at the destiny of our own souls.  It is not something far off; the time is at hand.  It concerns us."1

The background and occasion for John's apocalypse was a most desperate situation.  Under the watchful gaze of the Roman Empire and the increasing persecutions of the Emperor Domitian, Christianity was being chased and exiled.  Attempts had been made to stamp it out.  The aged Apostle John at this point was in his mid-nineties.  John Foxe, church historian on the martyrdom of Christians from the days of Christ, writes in the famous "Foxe's Book of Martyrs": "This saint was at once a prophet, apostle, divine, evangelist and martyr."  Than later on Foxe notes again: "Being at Ephesus, he was ordered by the Emperor Domitian to be sent bound to Rome, where he was condemned to be cast into a couldron of boiling oil.  But here a miracle appeared in his favour; the oil did him no injury, and Domitian, therefore, not being able to put him to death, banished him to Patmos to work in the mines."2 

The occasion for Revelation reminds us that there are no excuses for not following and serving Jesus
In reflecting on the occasion of the composition of Revelation, the book certainly takes away the excuses people commonly use for not trusting in nor serving Jesus.  Sometimes Christians may say: "I'm too old" or "it's too late to start". However the Apostle John was in his mid- nineties when he wrote Revelation, and nearly that same age when he composed his prior works: The Gospel of John and 1,2,3 John.  Other people will often complain: "I'll wait to do something for the Lord when times get better and I have more money".  What about John? He was in exile with no resources and times could not had been more dire for him.  Yet John did not hesitate in taking up his quill and by the Spirit's grace of inspiration pen the visions of Revelation.  For sixty years John had been a Christ-follower.  He never got over those first words he heard the Master say: "come follow me."   

Why Study Revelation?
In this blog today we are as it were docked at a bay, waiting to sail. I want us to consider why it is important for the Christian to study this book.  In times past I have written on the manner of interpreting the book and main message and features of the book.  At times I may make references to those items - however my main interest in this post and the ones to follow is to understand: Why this book?  Note the following three reasons why you and I should study and apply the Book of Revelation: Person of Christ is revealed, Prophecy of things to come and Promises of Blessing.  The first of these will occupy the remainder of today's post.

Person of Christ is Revealed.  1:1
The word translated "revelation" is the Greek word "apocalupsis" from whence comes our English words "apocalypse" and "apocalyptic".  Anytime we see this word it is referring to an uncovering or unveiling of whatever was previously hidden from sight.  The Revelator is also the Supreme Object - Jesus Christ.  In Revelation 1 alone we find nearly forty titles mentioned of Jesus Christ, encompassing nearly 20% of the 200 or so titles of Jesus Christ found throughout the whole Bible.  Just two names or titles merit our attention in this first reason for studying Revelation.

Whenever you look at the title: "Jesus Christ", you are encountering a mountain of truth contained within those two terms.  "Christ" speaks of His Deity, His position, His Pre-existence as God's Chosen or "Anointed One". (Isaiah 42:1) Not only was Christ chosen, anointed or appointed by the Father, but also too the Son Himself volunteered to come from Eternity into time through the virgin birth. (Hebrews 10:1-7) With the position of Christ describing His Deity, the name "Jesus" describes the human nature which He in His Person partook and assumed. As "Christ" He was always been co-eternal and co-sharer in the One Divine Nature with the Father and the Spirit.  However "Jesus" was designated of Him to indicated the miraculous virgin birth conception that would form His sinless humanity. (Luke 1:35) (Matthew 1:23)

The Book of Revelation is all about unfolding the Person, the Purpose and Plan of Jesus Christ.  Revelation 1-3 unfolds the truth of Christ's Lordship over His church and chapters 4-5 detail Christ and His Worship.  In Chapters 6-18 of Revelation we see Jesus Christ and His Sovereignty over history in general (6-11); Jewish history (12); the historical defeat of Anti-Christ and his forces (13-16) and Christ's final historical defeat of this world system, Babylon the Great (17-19).   As Revelation 11:15 states - "Then the seventh angel sounded; and there were loud voices in heaven, saying, “The kingdom of the world has become the kingdom of our Lord and of His Christ; and He will reign forever and ever.”  

More tomorrow.....

Top Bible Prophecy #7 The New Covenant

Jeremiah 31:31-34 “Behold, days are coming,” declares the Lord, “when I will make a new covenant with the house of Israel and with the house of Judah, 32 not like the covenant which I made with their fathers in the day I took them by the hand to bring them out of the land of Egypt, My covenant which they broke, although I was a husband to them,” declares the Lord. 33 “But this is the covenant which I will make with the house of Israel after those days,” declares the Lord, “I will put My law within them and on their heart I will write it; and I will be their God, and they shall be My people. 34 They will not teach again, each man his neighbor and each man his brother, saying, ‘Know the Lord,’ for they will all know Me, from the least of them to the greatest of them,” declares the Lord, “for I will forgive their iniquity, and their sin I will remember no more.”

Previous Top Bible Prophecies and today's Top Bible Prophecy
We have been viewing what I term "Top Bible Prophecies" periodically throughout the past few months.  This series is designed to acquaint the reader with scriptures that deal with major themes of God's prophetic program.  I have included both the blog date entries and top prophecies we have looked at in the listing below:
1. Genesis 3:15 The Seed Promise 4/12

2. Genesis 12 God's Covenant with Abraham 4/18 and 4/19

3. Deuteronomy 30 The Promised Land 5/1

4. 2 Samuel 7:8-16 A Shepherd and a King 5/2

5. Psalm 110 5/24 and 5/25

6. Isaiah 53 The Lamb of God 5/29a

If the reader desires to view the entire series, just type in "Top Bible Prophecies" in the search browser on this blog site, and all six of the posts should appear in their chronological sequence.     

In continuing on with our study, we come to what will be the foundational passage of both the future of Israel and our current New Testaments: Jeremiah 31:31-34.  In this passage (as well as several others scattered throughout the Old Testament Prophets), mention is made to what the Bible calls "The New Covenant".  Thankfully there is ample scripture in the New Testament that explains what is meant by this term and prophecy and why it is important for Christian understanding today.

Hebrews 8-10 is the divine commentary on Jeremiah 31:31-34 serves to explain the similarities and differences of the Old and New Covenants
Whenever you turn to Hebrews 8, you are treated to a Divine commentary on the meaning and significance of the New Covenant articulated in Jeremiah 31 and other Old Testament passages.  In Hebrews 8:1-5 we see a summary section of Hebrews 1-7 that explains the author's purpose in presenting the superiority of Jesus Christ as the believer's Eternal High Priest.  After the summary of Hebrews 8:1-5, we see these words in 8:6 - "But now He has obtained a more excellent ministry, by as much as He is also the mediator of a better covenant, which has been enacted on better promises."  Those three underlined words serve to give the reader an outline of the remainder of Hebrews 8:7-10:25 in explaining the similarities and differences between what is called the "first" or Old Covenant and the "second" or New Covenant:

1. The New Covenant exceeds the Old due to a better ministry.  8:7-9:10

2. The New Covenant exceeds the Old due to a better Mediator. 9:11-10:18

3. The New Covenant exceeds the Old due to better promises. 10:19-25

The main point of the discussion about the Old and New Covenants

The conversation about the Old and New Covenants can be described as having to do with the ability to live the Godly life being commanded by God to His people.  The "Old Covenant" was given to the descendants of Abraham under Moses' administration in Exodus 19:5-24:8 as a temporary system for the people of Israel to use in their lives following their Exodus and salvation.  Though God revealed righteous principles to live by to His people, there was never any power promised through the Mosaic covenant revealed at Sinai.  Although the people stated their confidence in Exodus 19:8 "all that the Lord has spoken, we will do!", yet it was clear that the Old Covenant could not produce the needed power for Godly living.  Only after 40 days of time had passed, we find the people bowing themselves to a golden calf while Moses is on top of Mt. Sinai in Exodus 32.   

Like Noah, like Abraham and all the Genesis patriarchs, the nation of Israel was still saved by grace alone through faith alone - a truth that is spelled out in Exodus 19:1-4.  However as God began to reveal the Law of God from 19:4 onward, it was designed not to impart righteousness, but demand it.  The design of the Old Covenant was to show the people their continual need for God's grace. God knew when He had revealed the Law that there was going to need to be a New Covenant.  The Old Covenant parallels in function the original covenant of works given to Adam and Eve in the Garden that was broken by their disobedience.  Just as they needed God's second provision of the graceful covenant of Genesis 3:15-21, Israel would need a New Covenant due to their breakage of the Covenant at Sinai.   

Comparing the Old and New Covenants as seen in Hebrews 8:7-13: Power for Godly Living

As I noted earlier, the whole discussion about Old versus New Covenant has to do with the need to live the Godly life being demanded of the believer by God. As you read Hebrews 8:7-13, and particularly 8:10-13, you discover the following comparisons between the Old and New Covenant systems:

1. New Power for Living.  Hebrews 8:10a

The Old Covenant demanded godliness, but only the New Covenant can give the power to live the Godly life.

2. New Way of Knowing (God).  Hebrews 8:10b-11

In the Old Covenant God was unapproachable, however in the New Covenant God is relational.  In the Old Covenant the people could only know about God from a distance, in contrast the New Covenant the people can know God.

3. New Forgiveness of sins. Hebrews 8:12

In the Old Covenant system sin is shown as sin, whereas in the New Covenant sin is forgiven.

4. New Change of life.  Hebrews 8:13

The Old Covenant has no ability to bring about the necessary change of heart.  All the Old Covenant could do was demand change and point to the grace of God.  In the New Covenant change is expected, since the power of the Holy Spirit comes to indwell the heart at saving faith and begins the progressive, transforming work of sanctification.  

Final thoughts on the New Covenant Prophecy

We must remember that the original prophecy of the New Covenant in Jeremiah 31:31-34 was given to Israel with the expectation of fulfillment in the future.  The only thing God did not reveal was in what manner he was going to begin the fulfillment.  The New Covenant's point was and is to bridge the promises of God to Abraham to the fulfillment of those promises in Jesus Christ.  Jesus Christ's first coming inaugurated the New Covenant era and promises to be experienced by grace-called believers in this age.  The church's current spiritual foretaste of the New Covenant blessings is based upon the guaranteed completion of it in Israel in the future.  Because of this prophecy, we in this age foretaste New Covenant blessings through the Gospel: power for Godly living, knowing God, forgiveness of sins and change.