Well, it gets a bit complicated. Third Wave was created by C. Peter Wagner, a charismatic evangelical minister. It is dominionist and Christian reconstructionist, which means ultra-conservative, right-wing Christian theology. The main things with Third Wave is a belief in generational curses and demonic possession of people, places and concepts. 3rd Wavers go on on what they call Prayer Walks. Prior to a Prayer Walk it is determined that a specific area is under demonic possession. There are several ways this is done, one being are there any new age stores there or admitted pagans. With their Prayer Walks, 3rd Wavers consecrate an area to God and exorcise the demon or demons living there. Ted Haggard is a big 3rd Waver and conducted a number of Prayer Walks around Colorado Springs to exorcise the demons allegedly living there.
This article (a transcribed sermon actually) comes from another conservative Christian site, which considers 3rd Wave to be a heresy. It is a fairly good explanation of 3rd Wave theology from a traditional Christan point of view.
http://www.biblebb.com/files/mac/chaos6.htmAnother good description of 3rd Wave strangeness can be found this article, also from a traditional conservative Christian site:
http://www.directionjournal.org/article/?1055In history "blood libel" generally refers to the belief held by certain Christians in the Middle Ages that Jews killed young, innocent Christian children, drained their bodies of blood and used that blood in their religious rituals as a direct spiritual and magical counterfeit to the Blood of Christ that the process of transubstantiation produced during the Mass. It can also refer to the more generalized belief in the medieval period that Jews were responsible for plagues, well poisonings and deaths of animals. If a child was found dead, many medieval Christians believed that the Jews were the cause. I should point out that the Romans believed the same things about the early Christians, claiming that Christians practiced cannibalism in actual fact, used blood of Roman citizens in their rituals and were responsible for plagues, etc. Also, a bit later, the same beliefs and accusations were leveled against the so-called witches.
I hope that helps. It's just a brief, off-the-cuff explanation.