Know ye that the LORD he is God: it is he that hath made us, and not we ourselves; we are his people, and the sheep of his pasture.
Know ye that the Lord he (is) God - Hebrew, 'Yahweh is 'Elohiym (H430);' as contra-distinguished from all whom the pagan called 'gods' (cf. Psalms 46:10, based on Deuteronomy 7:9). The destruction of Sennacherib, in Psalms 46:1-11, is a type of the coming overthrow of the anti-Christian faction, the result of which will be the recognition of Yahweh by all nations.
(It is) he (that) hath made us, and not we ourselves: (we are) his people, and the sheep of his pasture.
These are the two grounds for our recognizing Yahweh as God; first that 'He hath made us;' secondly, that 'we are His people and His sheep'-namely, by His having redeemed us (Acts 20:28). The same two-fold ground appears in Psalms 95:6-7. "Not we ourselves" is added to mark how altogether of God's grace, not of our working even in part, our creation and our redemption alike are (Ephesians 2:8-10: Psalms 98:1). Contrast Pharaoh's vaunt (Ezekiel 29:3). "Made us," as applied to the Israelites, the literal and the spiritual, includes adoption by grace, as well as creation. The result of His making us (in this sense) is, "we are His people, and the sheep of His pasture." Compare 1 Samuel 12:6, margin; Deuteronomy 26:18; Deuteronomy 32:6; Isaiah 29:23; Isaiah 43:7. The Chaldaic and Jerome substitute the bad Hebrew marginal (Qeri') reading х low (H3807a) for lo' (H3808)], 'And His we are' for 'not we ourselves.' The Septuagint and the other old versions, with the English version, support the Hebrew text (Kethibh), which suits the sense better.