In that he saith, A new covenant, he hath made the first old. Now that which decayeth and waxeth old is ready to vanish away.
He - God.
Made the first old (at the time of speaking the prophecy) - 'antiquated the first covenant.' From the time of God's mention of a NEW covenant (since God's words are all realities) the first covenant was ever dwindling away, until its complete abolition on the introduction of the Gospel. Both cannot exist side by side. Verbal inspiration is proved in Paul's argument turning wholly on the one word "NEW," which occurs but once in the Old Testament.
That which decayeth, х to (G3588) palaioumenon (G3822)] - 'that which is being antiquated:' growing out of date (at the time when Jeremiah spake). Waxeth old, х geeraskon (G1095)] - with senile decrepitude. For in Paul's time the new had set aside the old covenant. х Kainee (G2537)] New (Testament) implies that it is of a different kind, and supersedes the old: not merely recent [nea] (cf. Hosea 3:4-5).