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Revelation 3:17
Because thou sayest, I am rich, and increased with goods, and have need of nothing; and knowest not that thou art wretched, and miserable, and poor, and blind, and naked: (Revelation 3:17)
Need of nothing.
The climax of the Laodiceans’ boast is that their situation could not be improved. Such self-satisfaction is fatal, for the Spirit of God never enters where a need for His presence is not felt, yet without that presence newness of life is impossible.
Increased with goods.
 Literally, “have become rich,” “have prospered” (RSV). Not only does the Laodicean church claim to be rich, but she also makes the fatal mistake of considering that these riches are the result of her own labors (cf. Hosea 12:8).
I am rich.
This may be understood both literally and spiritually. Laodicea was a prosperous town, and doubtless some of the Christians there were well to do. Apparently this church had suffered no serious persecution. Pride in its prosperity led naturally to spiritual complacency. Of itself wealth is not wrong. However, the possession of wealth subjects its possessor to temptations to pride and self-complacency, and against these his only protection is spiritual humility.
Christians who are poor in earthly possessions feel themselves rich and increased with spiritual goods, yet are like the ancient philosopher who proudly proclaimed his “humility” by wearing a torn and threadbare robe. The pride they take in their assumed spirituality shines forth through the holes in their garments. The possession of important truths held only on the level of intellectual acceptance but not allowed to permeate the soul, leads to spiritual pride and religious bigotry. Even the church of God, strong in the structure of its organization and rich with jewels of truth, can easily become a doctrinal bigot and immorally proud of its riches of truth. “The sin that is most nearly hopeless and incurable is pride of opinion, self-conceit. This stands in the way of all growth” (7T 199, 200). Humility of mind is fully as important in God’s sight as humility of heart.
Knowest not.
 He who knows not, and knows not that he knows not, is well-nigh hopeless. The ignorance of their true condition that characterizes Laodicean Christians stands in sharp contrast with Christ’s certain knowledge of the true condition of His churches, as reflected by His repeated assurance to each, “I know thy works” (chs. 2:2, 9, 13, 19; 3:1, 8, 15).
Thou art.
The subject is emphatic in the Greek. The force of the sentence is, “knowest not that it is thou who art the wretched one ...”
Wretched … naked.
The true picture, here presented, is exactly the opposite of the boast made by the Laodicean church. Instead of being rich to the point of needing nothing, this church is, in reality, so much a pauper that she even lacks clothing.