Quote of J. Vernon McGee from this "Through the Bible Radio Program" put into book form in his commentary on the book of 1 Peter
In his commentary on the book of 1 Peter, copyright 1991, page 20, J. Vernon McGee said the following about the blood of Jesus Christ:
" 'And sprinkling of the blood of Jesus Christ...' There is often a silence about the blood of Christ, even in fundamental circles. As long as the blood of our Lord coursed through His veins, it had no saving value for us; but when that precious blood was shed, Christ Jesus gave His life. The life of the flesh is in the blood. He shed that blood that you and I might have life.
Remember that Peter is writing to Jews who had been brought up in Judaism. They were the Diaspora, believing Jews living in Asia minor. They knew the Old Testament, and they understood that the high priest on the Day of Atonement took blood with him when he went into the Holy of Holies, and that he sprinkled the blood seven times on the mercy seat. Now the Lord Jesus Christ has taken His own blood to the throne of God (the throne at which we are judged as guilty sinners), and He sprinkled His blood there. He gave His life and paid the penalty for us. Now that throne of judgment is the throne of grace where you and I can come and receive salvation.
My friend, the gospel has not been preached until the meaning of the blood of Christ has been explained. It may offend you aesthetically--the offense of the cross is that He shed His blood. Of course it is not pretty, but your sin and my sin are not pretty either. Our ugly sin is what made it necessary for Christ to die for us.
This reminds me of a story about a terrible accident which occurred at a railroad crossing. Several people were killed when the train hit a car. There was a court trial, and the watchman who had been at the crossing at the time of the accident was questioned.
'Where were you at the time of the accident?'
'I was at the crossing.'
'Did you have a lantern?'
'Did you wave that lantern to warn them of the danger?'
'I certainly did.'
The court thought that was enough evidence. When the watchman walked out of the court he was heard to mumble to himself, 'I'm sure glad they didn't ask me about the light in the lantern because the light had gone out.'
My friend, there can be a lot of lanterns waved in the circles of fundamentalism and evangelicalism and conservatism. However, unless there is the message of the blood of Jesus Christ and the sprinkling of the blood which cleanses us from all sin, there is no light in the lantern."