Rom. 4:5 But to him that worketh not, but believeth on him that justifieth the ungodly, his faith is counted for righteousness.
6 Even as David also describeth the blessedness of the man, unto whom God imputeth righteousness without works,
7 Saying, Blessed are they whose iniquities are forgiven, and whose sins are covered.
8 Blessed is the man to whom the Lord will not impute sin.
The condemnation of the "ungodly" is due to TWO essentials. They are not righteous as defined by God's Law and they are penalized for unrighteousness.
The state of "blessedness" in verses 6-8 is the reverse of those two problems. "The ungodly" (v. 5) is imputed righteousness by faith "without works" (v.6) and his sins are "forgiven" (vv. 7-8).
Now it is how that state of "BLESSEDNESS" is received that Romans 4:9-12 considers:
9 ¶ Cometh this blessedness then upon the circumcision only, or upon the uncircumcision also? for we say that faith was reckoned to Abraham for righteousness.
10 How was it then reckoned? when he was in circumcision, or in uncircumcision? Not in circumcision, but in uncircumcision.
11 And he received the sign of circumcision, a seal of the righteousness of the faith which he had yet being uncircumcised: that he might be the father of all them that believe, though they be not circumcised; that righteousness might be imputed unto them also:
12 And the father of circumcision to them who are not of the circumcision only, but who also walk in the steps of that faith of our father Abraham, which he had being yet uncircumcised.
As "A.D.33" pointed out earlier, Rome believes that circumcision under the Old Covenant was replaced by baptism under the New Covenant and this is explicitly spelled out in the Catholic Church Catechism (#527; and in the glossary under "Circumcision"). This is the very defense behind the use of Colossians 2:12 by Catholic Advocates. Hence, merely substitute the term Baptized for circumcised in Romans 4:9-12 and you have the truth glaringly illustrated that baptism or any other divine rite conveys any kind of saving grace:
9 ¶ Cometh this blessedness then upon the BAPTIZED only, or upon the UNBAPTIZED also? for we say that faith was reckoned to Abraham for righteousness.
10 How was it then reckoned? when he was in BAPTISM, or in UNBAPTISM? Not in BAPTISM, but in UNBAPTISM.
11 And he received the sign of BAPTISM, a seal of the righteousness of the faith which he had yet being UNBAPTIZED: that he might be the father of all them that believe, though they be not BAPTIZED; that righteousness might be imputed unto them also:
12 And the father of BAPTISM to them who are not of the BAPTIZED only, but who also walk in the steps of that faith of our father Abraham, which he had being yet UNBAPTIZED.
(NOTE: John the Baptist was the father of baptism and he was saved as he believed in the very gospel he preached in John 3:36 but was UNBAPTIZED).
Furthermore, Paul uses Abraham a PRE-MOSES saint, thus a PRE-LAW saint to prove that what is true of Abraham in regard to Justification by faith without works, without ordinances is true of ALL who are "of that faith" regardless if they had been uncircumcised or circumcised - meaning circumcision/baptism plays absolutely no part in justification by faith:
11 And he received the sign of BAPTISM, a seal of the righteousness of the faith which he had yet being UNBAPTIZED: that he might be the father of all them that believe, though they be not BAPTIZED; that righteousness might be imputed unto them also:12 And the father of BAPTISM to them who are not of the BAPTIZED only, but who also walk in the steps of that faith of our father Abraham, which he had being yet UNBAPTIZED
Case closed.