The phrase
"ultimate sovereignty" means having the highest power and authority over everything. It refers to having complete control and decision-making ability without anyone or anything above you.
Full definition
To temper any concerns about the transfer of this power, the Government retained
ultimate sovereignty over the setting of the rate and granted only operational control over the attainment of a centrally determined inflation target.
Every nation is technically exempt from international law as there is no world government which has
ultimate sovereignty over the nations; international laws are treaties, and at the end of the day the nations are sovereign and can withdraw or ignore them at will.
In the first sense, we are called to acknowledge
the ultimate sovereignty of God.
Taken collectively they justify what was affirmed in chapter 3 as primary notes in the meaning of the term:
the ultimate sovereignty of God; the acceptance of this sovereignty through human response and obedience to God's will; and a final, victorious consummation of the total process.
Three meanings can be distinguished, although none of the three is really complete when it is separated from the others: (1) the eternal,
ultimate sovereignty of God, his kingship (as in the familiar, «Thine is the kingdom and the power and the glory forever and ever»); (2) the rule of God in and among men in so far as God's sovereignty is acknowledged and his will is done; (3) the complete and perfect establishment of God's rule in the age to come.»
Our hope as believers is that the houses of this world will all crumble at some point, bowing to the weight of this world and to
the ultimate sovereignty of Christ.