Well said, Robert Burns.
Being that most Catholics demonstrate a perfectly inverted view on private revelations (not speaking specifically of Maria Valtorta or Medjugorje or John Leary or anyone here, just the general phenomenon) I’d like to briefly share a little dilly to set the record straight:
Declarations
Since the abolition of canons 1399 and 2318 of the former Code of Canon Law by Pope Paul VI on 14 October 1966, in the decree of the Congregation for the Propagation of the Faith, A.A.S., 58, p. 1186, publications about new apparitions, revelations, prophecies or miracles, et cetera, have been allowed to be distributed and read by the faithful without the express permission of the Church and without the Nihil Obstat and Imprimatur.
In Chapter II, No. 12, of the Second Vatican Council’s “Lumen Gentium” is stated that, “The Holy Spirit…distributes special gifts among the faithful of every rank…such gifts of grace whether they are of special enlightenment or whether they are spread more simply and generally, must be accepted with gratefulness and consolation, as they are especially suited to, and useful for, the needs of the Church…Judgments as to their genuineness and correct use lies with those who lead the Church and whose special task is not indeed to extinguish the spirit, but to examine everything and keep that which is good.”
“Extinguish not the spirit. Despise not prophecies. But prove all things; hold fast to that which is good” (1 Thessalonians 5:19-21).
This is not a recommendation but a directive!
Pope Leo X said, “When it is a question of prophetic revelations the Pope is the sole judge” (Fifth Lateran Council, 1513).
“In cases which concern private revelations it is better to believe than not to believe, for, if you believe, and it is proved true, you will be happy that you have believed, because Our Holy Mother asked it. If you believe, and it should be proved false, you will receive all blessings as if it had been true, because you believed it to be true” (His Holiness Pope Urban VIII, 1623-1644).
Pope Benedict XV expressed himself as follows on private revelations: “The approbation of revelations implies nothing more than, after mature examination, it is permissible to publish them for the unit of the faithful. Though they do not merit the same credence as the truths of religion, one can, however, believe them out of human faith, conforming to the rules of prudence by which they are probable, and supported by sufficient motives that one might believe in them piously.”
The Church does not oblige us to believe in any particular prophecy as a matter of faith, but we are indeed obliged to believe that prophecies may be made even in our own times [lest we court Modernism, the denial of the supernatural], for this is in the Gospel: “The Holy Spirit will speak to many in the latter days.” (The abstract concept of time is absent in the Bible. This is related to the absence of time in heaven.)
Supernatural Phenomena
No private revelation is indispensable to the faith.
The revelation ended with Jesus Christ. Saint John wrote in the Gospel, “There is much else besides that Jesus did. If all of it were put in writing, I do not think the world itself would contain the books which would have to be written” (John 21, 25).
The Second Vatican Council decree on the Lay Apostle states that the Church law permits not only to believe in the supernatural phenomena but always to state their belief to others. The Catechism of the Catholic Church (¶ 67) states, ‘throughout the ages, there have been so-called ‘private’ revelations…It is not their role to improve or complete Christ’s definitive Revelation, but to live more fully by it in a certain period of history.’
Every person has been given a special mission with sufficient graces to complete it. One of these gifts is prophecy which can be about words of faith as well as things to come. [This refutes another branch of Modernism which wants us to think of prophecy as mere exhortation.]
In all ages men have been divinely instructed in matters expedient for the salvation of the elect…and in all ages there have been persons possessed of the spirit of prophecy, not for the purpose of announcing new doctrines, but to direct human actions’ (Saint Thomas Aquinas: Summa: 2:2:174: Res. et ad 3).
According to Pope Benedict XIV, 'neither angels nor devils can foretell future events, which are the proper objects of prophecy, unless communicated to them by God. Neither can man of his own nature know the future unless God communicates it to him’ (Pope Benedict XIV, Heroic Virtue, III, 144,150).