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Why are the nations plotting rebellion?*“Plotting rebellion”: The word is only found here in the OT and is variously translated as “rage,” “uproar,” “assemble,” “consult together.” In the context and with the Hebrew verse parallelism it seems that “conspiring” or “plotting rebellion” best fits here. The peoples devise schemes, but they're pointless.
The kings of the world prepare to attack,“To attack”—implied. and the rulers conspire together against the Lord and his anointed one,In this context “anointed one” means the king of Israel. saying,
“Let's break the chains and throw away the cords that bind us.”
But the one who sits enthroned in heaven laughs. The Lord mocks them.
He will thunder at them, and terrify them in his fury, saying,
“It is I who placed my king on Zion, my holy mountain.”
“I will proclaim the Lord's decree,” says the king. “He told me, ‘You are my son. Today I have become your father.§Literally, “begotten you.”
Ask me, and I will give you the nations as your possessions—the whole earth will belong to you.
You will break them with a rod of iron, smashing them like pottery.’ ”
10 So then you kings, be wise!*Referring back to those mentioned in verse 2. Be warned, you rulers of the world!
11 Serve the Lord in reverence, celebrate with trembling!
12 Submit to his son“Son”: referring to verse 7. so that he will not become angry and you die suddenly. His anger“Anger”: throughout the Psalms God is spoken of as becoming angry, usually in response to sin and wickedness. However, this should not be equated to the human form of anger with its volatile, unpredictable, and emotional elements. It is really describing God's strong hostility to evil. flares up quickly, but how happy are all those who go to him for protection.
 

*2:1 “Plotting rebellion”: The word is only found here in the OT and is variously translated as “rage,” “uproar,” “assemble,” “consult together.” In the context and with the Hebrew verse parallelism it seems that “conspiring” or “plotting rebellion” best fits here.

2:2 “To attack”—implied.

2:2 In this context “anointed one” means the king of Israel.

§2:7 Literally, “begotten you.”

*2:10 Referring back to those mentioned in verse 2.

2:12 “Son”: referring to verse 7.

2:12 “Anger”: throughout the Psalms God is spoken of as becoming angry, usually in response to sin and wickedness. However, this should not be equated to the human form of anger with its volatile, unpredictable, and emotional elements. It is really describing God's strong hostility to evil.