From: http://preterism.ning.com/forum/topics/paul-refers-to-the-old
Elements of the world: (Galatians 4:3) Weak and beggarly elements. (Gal. 4:9) A yoke of bondage. (Gal.5:1) "the ministry of death," (2 Corinthians 3:7) for example. In this article we will look at another term used by Paul to describe the old covenant.
For when we were in the flesh, the passions of sins which were aroused by the law were at work in our members to bear fruit to death. (Romans 7:5) Remember, please, Paul is speaking in this place to his Jewish brethren who know the law (see verse one of chapter seven). There are many other places in this epistle were he addresses Gentiles, but in this verse he is speaking to Jewish Christians.
Many are quick to tell us that being “in the flesh’ only means we have a physical body that breathes, has a beating heart, and senses that allow us to communicate with our material world. Other insist this verse is about “flesh’ versus Spirit are two ways of viewing the same individual.
Paul is speaking covenantal truth. His Jewish readers had physical bodies under the law. They died to the old covenant of Moses through the body of Christ that they could be married to Him who was raised from the dead. That’s resurrection. They are now Christians in a better covenant, (and they still wear physical bodies).
The sense of it is conveyed by the past tense used by Paul as he says (‘when we were in the flesh.’) If Paul were speaking of earthen vessels (which he does elsewhere) then his statement would be foolish.
They were, as Jews, all in the old, fleshly covenant of Moses. The covenant of fleshly works. The covenant of if you do this and I will do that. If you do well, will you not be accepted? And if you do not do well, sin lies at the door. And its desire is for you, but you should rule over it." (Genesis 4:7)
As Christians, they are no longer bound by the old covenant of flesh, that could not give life. Paul speaks of ‘flesh as a covenantal identity. With this in mind let’s look at two verses from the next chapter. For those who live according to the flesh set their minds on the things of the flesh, but those who live according to the Spirit, the things of the Spirit. For to be carnally minded is death, but to be spiritually minded is life and peace. (Romans 8:5-6)
What did Paul mean by set their minds on the things of the flesh? The earthly Temple. The earthly priesthood. The earthly animal sacrifices. The earthly land of Palestine. All of these things were synonymous with the covenant of “flesh effort” and “death.”
Christians set their minds on the things of the spirit the things their father Abraham looked for. By faith Abraham obeyed when he was called to go out to the place which he would receive as an inheritance. And he went out, not knowing where he was going. By faith he dwelt in the land of promise as in a foreign country, dwelling in tents with Isaac and Jacob, the heirs with him of the same promise; for he waited for the city which has foundations, whose builder and maker is God. (Hebrews 8:10)
With that in mind let’s look at one more chapter. But, as he who was born according to the flesh then persecuted him who was born according to the Spirit, even so it is now. (Galatians 4:29) Our passage in Galatians 4 is of great import to this matter of accurate biblical interpretation. Here again Paul is addressing his Jewish readers. Tell me, you who want to be under law, do you not listen to the law? Verse 12.
Paul outlines the text according to his purposes. Abraham had two wives, each of which bore a son. The slave woman, Hagar, bore a son who was the result of mere fleshly effort, while the free woman, Sarah, bore a son who was the product of God’s promise and His power. For a time because the son of Hagar was the oldest there was hostility between him and Sarah son Isaac. Paul used the same imagery to show how the older son ( those who desire to be under the law ) were persecuting the younger son (those who were according the Spirit). Those who were born according to the flesh then persecuted him who was born according to the Spirit even so it is now.
In the days of the covenant eclipse, a man was determined by the covenant he was under. So then, those who are in the flesh cannot please God. (Romans 8:8)