“This cup is the new covenant in My blood, which is shed for you” . . . knowing that you were not redeemed with corruptible things, like silver or gold . . . but with the precious blood of Christ, as of a lamb without blemish and without spot.
(Luke 22:20 and 1 Peter 1:18-19)
The well-known words from the Lord’s Supper in Luke 22:20 remind us that the glorious riches of grace found in the new covenant are all provided by the shed blood of Jesus Christ, as He died on the cross for us. “This cup is the new covenant in My blood, which is shed for you.” Customarily, we think of forgiveness of sins when we hear these words. Forgiveness is certainly included in the blessings secured by the death of our Lord. Notice, however, that Jesus did not say “this cup is forgiveness in My blood.” He said, “This cup is the new covenant in My blood.”
The new covenant is far more than forgiveness of sins. As previously indicated, the Scriptures reveal that the new covenant has three basic areas of blessings. First is the forgiveness of sins. “Their sins and their lawless deeds I will remember no more” (Hebrews 8:12). Second is an intimate relationship with the Lord. “All shall know Me, from the least of them to the greatest of them” (Hebrews 8:11). Third is an internal work of God producing an increasingly godly life in and through us. “I will put My laws in their mind and write them on their hearts” (Hebrews 8:10). The word of God further confirms that all of these grand blessings depend upon God’s provision, not our performance. “Not that we are sufficient of ourselves to think of anything as being from ourselves, but our sufficiency is from God” (2 Corinthians 3:5).
How can it be that such measureless spiritual abundance becomes ours through the new covenant of grace? Well, consider the amazing and effective redemption price paid to establish this new covenant. “Knowing that you were not redeemed with corruptible things, like silver or gold . . . but with the precious blood of Christ.” This new covenant was not purchased with limited earthly wealth, like silver and gold. Rather, it was paid for by infinite heavenly treasure, the blood of Christ. No wonder the new covenant provides such amazing and effective resources for all who depend upon the One who died for them.