Nonsense. Romans 9 - 11 refutes this quite nicely.
No it does not. It is spiritual israel that is being reference. God is not going to save all people of a particular bloodline regardless of what they do. That will not be justice. That will not be fair to me nor to you if you are not jewish. God will save all in the house of Israel of Abraham's seed.
Gal 3:27 For as many of you as have been baptized into Christ have put on Christ.
Gal 3:28 There is neither Jew nor Greek, there is neither bond nor free, there is neither male nor female: for ye are all one in Christ Jesus.
Gal 3:29
And if ye be Christ's, then are ye Abraham's seed, and heirs according to the promise.
There is no longer Jew or Greek. We are all one in Christ. We are all Abraham's seed. We cannot examine every text in the chapter you made reference to now but let me just use a few scriptures.
Rom 9:4 Who are Israelites; to whom pertaineth the adoption, and the glory, and the covenants, and the giving of the law, and the service of God, and the promises;
Rom 9:5 Whose are the fathers, and of whom as concerning the flesh Christ came, who is over all, God blessed for ever. Amen.
Rom 9:6
Not as though the word of God hath taken none effect. For they are not all Israel, which are of Israel:
Rom 9:7
Neither, because they are the seed of Abraham, are they all children: but, In Isaac shall thy seed be called.
Rom 9:8
That is, They which are the children of the flesh, these are not the children of God: but the children of the promise are counted for the seed.
These opening texts to the entire discussion in chapter 9, 10 and 11 makes it clear that not everyone who is a physical Israelite is a child of promise and a Child of Abraham. Consider verse 6,
"For they are not all Israel, which are of Israel:" Look at those verses in another version.
Rom 9:4 Who are Israelites: who have the place of sons, and the glory, and the agreements with God, and the giving of the law, and the worship, and the hope offered by God:
Rom 9:5 Whose are the fathers, and of whom came Christ in the flesh, who is over all, God, to whom be blessing for ever. So be it.
Rom 9:6
But it is not as if the word of God was without effect. For they are not all Israel, who are of Israel:
Rom 9:7
And they are not all children because they are the seed of Abraham; but, In Isaac will your seed be named.
Rom 9:8
That is, it is not the children of the flesh, but the children of God's undertaking, who are named as the seed.
At the very beginning, exactly who Israel is is being discussed. Not every physical Israelite is apart of Israel. Paul is showing that apart from being a physical Israelite you can be a spiritual Israelite. God is not out to save people because of their race but because of their acceptance of him.
Rom 2:28 For he is not a Jew, which is one outwardly; neither is that circumcision, which is outward in the flesh:
Rom 2:29 But he is a Jew, which is one inwardly; and circumcision is that of the heart, in the spirit, and not in the letter; whose praise is not of men, but of God.
Within those chapter's Paul again reiterates that there is no difference between the physical jew and greek.
Rom 10:12 For there is no difference between the Jew and the Greek: for the same Lord over all is rich unto all that call upon him.
Rom 10:13 For whosoever shall call upon the name of the Lord shall be saved.
Can we say that whosoever calls upon the name of the Lord is included in Abraham's seed. If any man be in Christ he is Abraham's seed. There should be no shock that in the next chapter we see that all Israel shall be saved.
Rom 11:26 And so all Israel shall be saved: as it is written, There shall come out of Sion the Deliverer, and shall turn away ungodliness from Jacob:
Rom 11:27
For this is my covenant unto them, when I shall take away their sins.
Lets go back to the verses above and compare.
Rom 9:4
Who are Israelites; to whom pertaineth the adoption, and the glory, and the covenants, and the giving of the law, and the service of God, and the promises;
Rom 9:5 Whose are the fathers, and of whom as concerning the flesh Christ came, who is over all, God blessed for ever. Amen.
Rom 9:6
Not as though the word of God hath taken none effect. For they are not all Israel, which are of Israel:
It is clear. It was established exactly who Israel is in this passage. The Israel that God will save are not the physical israelites but he spiritual one's. Not the members of the physical seed of Abraham but the members of the spiritual seed of Abraham. No genetically similar people but spirtually similar people.