The substance of the covenant is mainly identical with previous revelations. The land is to belong to Abram's seed. That seed is to be very numerous. But there is new emphasis placed on God's relation to Abram's descendants. God promises to be 'a God unto thee, and to thy seed after thee,' and, again, 'I will be their God' (verses 7, 8). That article of the old covenant is repeated in the new (Jer. xxxi. 33), with the addition, 'And they shall be My people,' which is really involved in it. We do not read later more spiritual ideas into the words, when we find in them here, at the very beginning of Hebrew monotheism, an insight into the deep truth of the reciprocal possession of God by us, and of us by God. What a glimpse into the depths of that divine heart is given, when we see that we are His possession, precious to Him above all the riches of earth and the magnificences of heaven! What a lesson as to the inmost blessedness of religion, when we learn that it takes God for its very own, and is rich in possessing Him, whatever else may be owned or lacking!
To possess God is only possible on condition of yielding ourselves to Him. When we give ourselves up, in heart, mind, and will, to be His, He is ours. When we cease to be our own, we get God for ours. The self-centred man is poor; he neither owns himself nor anything besides, in any deep sense. When we lose ourselves in God, we find ourselves, and being content to have nothing, and not even to be our own masters or owners, we possess ourselves more truly than ever, and have God for our portion, and in Him 'all things are ours.'