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I've been seeing the beginnings of this kind of movements within Pentecostal/Charismatic circles recently.... I've been hearing stuff like this in those churches recently and a lot of people sadly seem to be being taken in by the power and show.......There is some thought that the office of Apostle and Prophet is about to be restored to the church and it appears that those who subscribe to this thinking think that they are the anointed ones (as you would expect)

I fear we are watching the beginnings of a cult forming before our eyes.

Yes...you are observing rightly. Here's an interesting article about this movement and it's roots.

http://members.ozemail.com.au/~rseaborn/New_Apostolic_Reformation.html

I'm lazy. Here it is clickable for any interested.

http://members.ozemail.com.au/~rseaborn/New_Apostolic_Reformation.html

If you don't use HTML, it works this way.

From the article....

Now we are introduced to another major feature of the current move namely Kingdom Now Dominionism. Previously Latter Rain teachers saw a second and repeated Pentecost as a final harvest of souls before Christ could come back. Now there is a major addition to the Latter Rain/Restoration concept. The restored apostles and prophets will lead a new and reconstituted body of Christ in conquering the kingdoms of this world and establishing the Kingdom of God upon the earth.

This dominion mentality is conceived as a gigantic end-time revival that will sweep the whole earth in its wake. Some even refer to a billion souls being swept in to the kingdom. An elite company of overcomers from out of the larger church will subdue all things and will be so endued with supernatural power that the first church apostles will be envious of the latter day apostles.

According to his view, summarised from the statements made by a number of its exponents, "the church isn't going sit and take it any more. The church isn't going to wait to be helicoptered out of the world in some rapture rescue plan. The church will stay right here and by its spiritual authority even defeat the principalities and powers in the heavenlies, dragging them to earth and putting them under their heel". Paul Cain, a survivor of the Latter Rain (1950) is currently marketing a vision of an elite company of overcoming spiritual warriors called "Joel's army". This end-time spiritual army unit will be an invincible band, which leads the church in dominion on the earth. A purging of the wider church of those who will not follow the new order is necessary to constitute a unified global church.

Teachers of the new order tell us that all this has been prophesied. This is an end-time fulfilment of the Feast of Tabernacles. These teachers assert that Passover found fulfilment in the sacrifice of Christ on the cross. The Feast of Pentecost was fulfilled in the outpouring of Spirit, and now the only remaining feast is that of Tabernacles to be fulfilled in the last days' church. It is a second Pentecost with restored apostles and prophets. This end time spiritual army will put all God's enemies under its feet, yes even the last enemy, death itself. This introduces us to another added teaching of the Latter Rain (1950).