"And it shall come to pass that I will establish my people, O house of Israel. And behold, this people will I establish in this land, unto the fulfilling of the covenant which I made with your father Jacob; and it shall be a New Jerusalem. And the powers of heaven shall be in the midst of this people; yea, even I will be in the midst of you."
The Lord will establish His people, including all of the "house of Israel." The plan is global. But when it comes to the Americas, His people are those in the audience at the moment He was speaking to "this people." And the land of promise for them is "this land." Meaning that wherever it was that Christ was speaking involved two things: The ancestors of the remnant, and the land of promise.
Now the statement gets interesting because Christ refers to a covenant He made personally with "your father Jacob." Which "Jacob" is this referring to? And, if the Old Testament father whose name was changed to Israel, then why refer to him by his earlier name ("Jacob") rather than by his new name ("Israel")? I've described the reasons for distinguishing between these two names for a single man in Nephi's Isaiah. It is relevant here and I'd remind you of that discussion.
In Jacob's final blessing to his sons, he blessed Joseph as one "separate from his brethren" to inherit a land "unto the utmost bound of the everlasting hills." (Gen. 49: 26.) The covenant between Christ and Jacob affected this blessing given Joseph. It is in the "utmost bound of the everlasting hills" that Zion or the New Jerusalem is to be built. And it will be Jacob's posterity, the remnant visited by Christ, who will build it. Christ's visit to these people reaffirms the prior covenant, and reconfirms the Lord's intent to fulfill His covenant with Jacob. It is for Jacob's sake this is done. Covenants between the Lord and His sons are always fulfilled; for the Lord takes His word very seriously. His word cannot be broken. (D&C 1: 38.) But, as I have explained in Beloved Enos, these are the words of His covenants. It is not merely vain words spoken using His name as authority by those whom He did not authorize to speak such words. (Matt. 7: 22-23.)
Since the statement involves global gathering of all the "house of Israel," it would appear this reference to "Jacob" is a reference to the global, overall covenant for the entire collection of remnants (plural) throughout the world, wherever they are scattered. However, the crowning portion of the covenant, the capstone which Jacob was given for his posterity in his covenant, was the promise of the New Jerusalem. When that New Jerusalem has come again, it will be "unto the fulfilling of the covenant which [Christ] made with your father Jacob."
Implicit in the return of a New Jerusalem is the redemption of a worthy assembly of Jacob's posterity. It is the culmination of history. It is the final redemption of a people among whom the Lord may take up His residency.
This New Jerusalem will involve "the powers of heaven" being "in the midst of this people." Also, the Lord "will be in the midst of you." For the Lord to take up His residence with people requires them to be saved, clean every whit, and to receive at last the "fullness of the Gospel of Jesus Christ." These are not pretenders who claim, but do not do. Even penitent harlots and publicans are preferred to the self-righteous who claim to be something they are not. (Matt. 21: 28-32.)
Why are "the powers of heaven" mentioned first? Must the "powers of heaven" precede the Lord's presence? Is that why they are mentioned by the Lord first, and His dwelling among them is mentioned second? What does that suggest about the manner in which we proceed into the presence of the Lord? How do we experience the "powers of heaven?" What is that power? Is a "form of godliness without any power" a sufficient substitute for the "powers of heaven?" (JS-H 1: 19.)
Do the "powers of heaven" invariably precede and in turn lead to the Lord's presence? Why?
Reading these words you begin to see how our Lord is consistent and determined. His covenants matter. For the sake of those who have obtained a covenant with Him, He will always deliver what He promises. For those who break their covenants with Him, there is no promise. He has always been the same. (Lev. 26: 15-17.)
Read again the words of condemnation given against us, which remain in effect still today:
It is not that we haven't been warned. It is that we just will not allow the warnings to inform us. We prefer to pretend rather than to do. We certainly have a form of godliness, but we lament even in General Conference about the lack of power in that form.