Washington (CNN) – When it comes to jumping into the race for 2012, it's possible the only person who knows what Chris Christie is doing is Chris Christie.
"The storm of speculation is incredible," a close adviser to the New Jersey Governor said to CNN. "But this is a decision that will come from Chris Christie on his terms."
Christie is scheduled to give a closely watched speech at the Ronald Reagan Presidential Library on Tuesday night. The high-profile address and renewed hand-wringing over the current GOP field have both fueled speculation the Republican governor is reconsidering a presidential campaign.
Just last Thursday, Christie told a group of students at Rider University he isn't running.
"It's got to be something that you and your family really believe is not only the right thing to do but I think what you must do at that time in your life both for you and your country. And for me the answer to that is: it isn't," Christie said.
Christie gave a more forceful denial in a speech to the American Enterprise Institute last February. It was Sherman-esque on steroids.
"I threatened to commit suicide. I did. I said what do I have to do short of suicide to convince people I'm not running. Apparently I actually have to commit suicide to convince people I'm not running," Christie said.
On Monday, former New Jersey Gov. Tom Kean ratcheted up the speculation that things have changed when he told the National Review On-Line Christie is giving it all a second thought.
"It's real," Kean said. "He's giving it a lot of thought. I think the odds are a lot better now than they were a couple weeks ago."
On Tuesday, Christie's brother sought to tamp down that speculation in an interview with a New Jersey newspaper. Todd Christie told the Star-Ledger he is "sure" his brother is not running.
"If he's lying to me, I'll be as stunned as I've ever been in my life," Todd Christie said to the newspaper.
Christie is under intense pressure to enter the race from Republican activists and donors who are cringing at the prospect of picking between Texas Gov. Rick Perry and former Massachusetts Gov. Mitt Romney.
The New Jersey governor is listening to those pleas. He also remains an active team player for Republican causes. On Tuesday morning, Christie appeared at a fundraiser in Missouri for a Congressional candidate.
But an 11th hour decision to join the race comes with potential peril. A late entry would result in intense media scrutiny. Witness the shooting star and scorching after burn for Minnesota Rep. Michele Bachmann.
Christian conservatives signaled Tuesday they are ready to challenge Christie on social issues. Last August, Christie outraged some on the religious right when he appointed a Muslim judge. Critics of the decision said it could lead to Sharia law in New Jersey.
The governor's response to the criticism was vintage Christie.
"This Sharia law business is crap. It's just crazy. And I'm tired of dealing with the crazies," Christie said.
Prominent religious conservatives took issue with Christie's comments.
"He's made some very questionable appointments of some key positions," Family Research Council President Tony Perkins said at a news conference Tuesday. "He has some backing from individuals who are clearly on the other side of most social issues. So I think he would have a difficult time gaining a lot of support among social conservatives."
The reality is Christie is already up against looming fall deadlines for putting his name on the ballot in several primary states.
"It's not easy to put a campaign together on the run," long-time Republican campaign strategist Ed Rollins said.