Dispensationalism
In 2002, an ecumenical council of many reformed pastors and theologians gathered to discuss Dispensationalism’s unbiblical view of the modern day political nation of Israel. This ecumenical council discussed and assembled a document explaining what the biblical perspective on modern day Israel is. In short, the modern day nation-state of Israel is not in covenant, and set apart by God from all other nations as part of the Abraham covenant, but is simply a secular nation-state created by a United Nations charter in 1948. The "true Israel", the "Israel of God" is, and has always been God’s covenant people. In the Old Testament, these were almost exclusively the elect of the Jews of the nation of Israel. In the New Testament period, these are the elect of both Jews and Gentiles, together in the New Testament church. True spiritual descendants of Abraham, both Jews and Gentiles united in the gospel of Jesus Christ , found in the Old and New Testament periods, are, and have always been, God's elect and covenant people (Galatians 3:28 – 29).
Click here to view the full document that they assembled.