On a long forgotten shelf, alone stood a clock. The clock was not forgotten because of lack of greatness, for the clock was a marvelously crafted clock, but for many, many years the clock lay silent. In years before it ran and chimed, and it ticked and it tocked, but for many years it lay dormant. Frozen in time the clock sat quietly until it happened… On May 14, 1948 God's prophetic clock started ticking again - LOUDLY.
More so than any other sign or prophecy I would have to say that the existence of Israel is by far the greatest sign. There are so many prophecies given that were hinging on the existence of Israel, that prior to May 14, 1948, Bible scholars were tempted to (and many did) deny the literal interpretation of the prophecies in regards to the nation of Israel. These same prophecies are the reason that now, since we've seen this amazing rebirth (and survival!) of a nation, we are anxiously waiting on the edge of eternity.
Look at how Time Magazine's 80 days that Changed the World words it from an article written by Romesh Ratnesar titled "The Dawn of Israel":
"What I am trying to do is make the whole world safe for Jews," Harry Truman wrote as he wrestled over the decision to recognize a Jewish state in Palestine. Deeply affected by the Holocaust, Truman sympathized with Jewish aspirations for a homeland. In November 1947 he lobbied for the U.N. resolution that divided Palestine into Jewish and Arab states. Britain announced it would hand authority over Palestine to the U.N. by May 14, 1948. Secretary of State George Marshall advised against recognition, warning Truman that Arab countries would cut off oil and unite to destroy the Jews. On the eve of British withdrawal-to be followed by an immediate Jewish declaration of independence-he told Truman "the great office of the President" was at stake. But Truman's mind was made up. At 4 p.m., David Ben-Gurion read a 979-word declaration of independence in front of a small audience at the Tel Aviv Art Museum. He finished, "The state of Israel is established! The meeting is ended." At midnight, British rule over Palestine lapsed; 11 minutes later White House spokesman Charlie Ross announced U.S. recognition. "God put you in your mother's womb," the Chief Rabbi of Israel later told Truman, "so you would be the instrument to bring the rebirth of Israel." With Truman's decision, the hopes of the Jewish people were realized, but so too were Marshall's fears. Arab opponents of the new nation immediately declared war, prompting a bloody struggle over Israel's existence that would rage into the next century.
For almost 2500 years, starting with Jewish captivity under Babylon, then Persia, then Greece, then Rome, and for almost 2000 years since the birth and rejection of the Messiah, the Jews were dispersed. (That in itself was a prophetic event due to Israel's 'falling away' and rejection of God) The Jews were a people without a nation for centuries. Why is that important? Because God said that he would one day re-gather the children of Israel into the Land promised them through his covenant with Abraham. This prophetic re-gathering (Ezek. 36:10-11; 37:1-6) which we have seen take place within this century, is to serve as a sign to the world that the 'Day of the Lord' draws near.
"Assuredly, I say to you, this generation will by no means pass away till all these things take place." - Matt 24:34
For more on this, please check out 'Signs of the Times Part II (Israel is born)'