The ìlowest deepî (4:76) that Satan is referring to here seems to be representative of the Hell Satan is experiencing within himself as well as all around him.  If the ìlowest deepî Satan is experiencing right now is painful enough, the ìlower deepî is inconceivable to Satan.  Turning away from God is what caused Satan to be in the ìlowest deepî he is in right now.  The fact that there is a ìlower deepî out there someplace threatening Satan makes no sense, since nothing can be as painful as the separation from God, and Satan is already experiencing that pain right now.

In terms of the cosmos, Satan is as far away from Heaven as one can get, and with every sinful decision Satan makes, he is getting farther and farther away from heaven and from God.  Satan right now is in hell, which is in the ìlowest deepî of the universe, whereas Heaven is the highest possible point one can obtain.  If one is already in the ìlowest deepî of the Universe, than there is no existence of a lower deep, except if Satan is referring to his mind and what it is capable of doing.  Satan's mind seems to have more control over his actions than Satan himself.  Satan wanted power, and in some strange twist, Satan got it, but not in the means in which he wanted it.  Satan's mind now has power over Satan and his decisions.  Satan can decide to do one thing, but his mind will do another, and prevent Satan from doing what he truly desires, like returning to the safety and blissful Heaven.  Satan himself in some ways would like to, but his mind, as powerful as it is, will only cause Satan to fall once again in due time.  This will put Satan in the "lowest deep" possible, a world in which God himself can not help Satan, and Satan stands no chance of helping himself, except to give into the temptations that his mind is offering.  

Isaiah XIV (Contemporary English Version) says, "You, the bright morning star, Lucifer, have fallen from the sky!  You brought down other nations; now you are brought down.  You said to yourself; I'll climb to heaven and place my throne above the highest stars.  I'll sit there with the gods far away in the north.  I'll be above the clouds, just like God Most High."  But now you are deep in the world of the dead."

 

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