I have no doubt you are well versed in Scripture and have embraced it with all your heart. In so doing, you have arrived at opinions based on personal interpretation. Is private interpretation of the Bible condoned in the Bible Itself? No, it is not (2 Peter 1:20). Was individual interpretation of Scripture practiced by the early Christians or the Jews? Again, "NO" (Acts 8:29-35). The assertion that individuals can correctly interpret Scripture is false. Even the "founder" of Sola Scriptura (Martin Luther), near the end of his life, was afraid that "any milkmaid who could read" would found a new Christian denomination based on his or her "interpretation" of the Bible. As we can now see, he was right.
Can there be more than one interpretation of the Bible? No. The word "truth" is used several times in the New Testament. However, the plural version of the word "truth" never appears in Scripture. Therefore, there can only be one Truth. So how can there be over 20,000 non-Catholic Christian denominations all claiming to have the "Truth"?
Moreover, is the Bible to be taken literally - "word for word?" No. The Bible doesn't state anywhere that It should be taken literally. The Bible was written by different authors with different literary styles at different times in history and in different languages. Therefore, the writings should be interpreted with these circumstances in mind. The Bible is a religious book, not a scientific or a history "textbook."
Did Jesus Christ write down any part of the New Testament with His own hand? No, He did not. If the Bible was to be the sole authority of the Church, shouldn't the Founder have written down His Own teachings? Shouldn't He have at least stated something similar to the following: "the written works of My disciples will be the authority upon which My Church is based?"
To have the Bible as the only and sole authority of Christianity is to invite chaos into His Church. There are at least 5 Protestant denominations created every year based on a different interpretation of the Bible. Theoretically, anyone who owns a Bible can create their own denomination based on their own interpretation of Scripture. The Bible Itself never states that It is the sole and only authority of Christianity. The word "Bible" is not even mentioned in Scripture. However, it is one of the authorities in Christianity, but where does It state that It alone is the only authority?
That said, let's recall our Lord's words, as recorded by the Apostle, Matthew and the Evangelist, Luke.
Matthew 26:26 - While they were eating, Jesus took bread, said the blessing, broke it, and giving it to his disciples said, "Take and eat; this is my body."
Luke 22:19 - Then he took the bread, said the blessing, broke it, and gave it to them, saying, "This is my body, which will be given for you; do this in memory of me."
Jesus states that the bread is His body. Since He is God, then that bread has become God. Jesus further states do this. For 2,000 years, Catholics and Orthodox have followed that commandment. After saying the words of Consecration, the priest elevates the host which has now become the Body of Christ. Dr. Scott Hahn, a theologian and former protestant minister, recognized these verses of Scripture at that moment and immediately responded in humility: My Lord and my God!