Jesus Blood and Death
Q: Is it true that John MacArthur did not believe Christ's blood saves and only His death is how we're saved?
A: No, that was a slanderous lie propagated by hyper-fundamentalists. MacArthur denied that the literal blood is literally "what" saved, as if when Scripture says we are sprinkled by His blood (1 Pet. 1:2) that refers to "the fluid itself" coming upon us. Instead, the literal shedding of blood did its saving work by being representative of a substitutionary atonement on behalf of sinners. Humans sin. The wages of sin is death, & after death is only judgment, yet only by man's perfect blood can one be saved, none are perfect but Christ, so his death and resurrection are key in the Gospel which we believe and thus trust in Christ's life, death and resurrection, on our behalf that made us right with God.
Book: The Atonement
See also this topic here.
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